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    The Toliza Museum of Art

    Bilmes, Linda

    • Reference: HBS-KS1124-E

    • Year: 2012

    • Number of pages: 6

    • Geographic Setting: Middle East;Qatar;Saudi Arabia;United Arab Emirates

    • Publication Date: Apr 15, 2015

    • Fecha de edición: May 26, 2011

    • Source: HBSP (USA)

    • Type of Document: Case

    • Industry Setting: Technology;Transportation;Transportation & warehousing

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    Description

    Juan Antonio Jimenez is the new Executive Director of the Toliza Museum of Art located in Spain. Jimenez is concerned that the museum lost money in 2008 and wants to understand what the financial results for the current year (2009) are likely to be. The museum has an extensive collection of contemporary and classical art which are shown as Regular Exhibits. The museum also hosts travelling Special Exhibits made up of items loaned by other galleries for a short period of time. The case asks students to use variance analysis to examine the causes of the 2008 losses based on the current cost allocation and to do a straightforward revenue projection based on a scenario where concessionary ticket prices are increased. The second half of the case uses activity based costing to reallocate costs and examine whether the Special Exhibits were profitable in 2008.

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    Keywords

    Accounting Budgeting Budgets Financial management Nonprofit accounting Variances