Answer the following four questions for the attached case on Schick Technologies.
1. The summary of the different types of revenue reporting issues include the fact that consignment sales were illegally included in revenue. Also the shipments of trial products to the customers were misleadingly included in sales. Most importantly, end of quarter shipments were made to warehouses that were leased by Schick Technologies itself. When shipments were made on trial basis to customers, there was no obligation on the customers to buy those products, yet these were added to sale revenues.
In addition, Schick Technologies recorded bogus sales, and did not recognize huge product returns. Schick Technologies dishonestly entered consignment sales as actual sales.
2. The suit concluded on June 21, 2005, when the SEC made the announcement that the US District Court for the Eastern District of New York entered a final judgment against defendants Schick Technologies. The final enforcement ...
This explanation provides you a comprehensive argument relating to Schick Technologies