Fundamentals of Accounting Essay

For â€Å"Goods for Sales† inventory is usually divided into 1. Raw Materials : a) Natural Raw Materials: Cotton, Wools and etc. b) Synthetic Raw Materials: Acrylic, Viscose, Nylon, Polyester, etc. 2. Work in Process (WIP) : It’s starting with making Fibre from raw materials (Natural and Synthetic). Following by the process of spinning with the produced Fibre and come out with Yarn as the final product in spinning. Furthermore, Yarn will be processed into Grey Fabric by the process of weaving. Lastly, Processed Fabric is to be done from Grey Fabric. Processed Fabric will be used for Technical Textiles, Readymade Garments and Home Textiles. These products will contribute to further production of final goods. 3. Finished Goods : Finished goods will be categorised under the brand of PADINI, SEED, PADINI AUTHENTICS, P&Co, PDI, MIKI, VINCCI and so on. For example of finished goods are: sweater, skirt, knit vest, cotton pant, dress, shirt, belt, bag, tie, jeans, blouse, scarf, jacket, trousers, blazer and so forth. 1.2 Process of Manufacturing Raw materials that can be divided into two distinct categories: those derived from natural materials (cotton, et cetera) and synthetic materials (polyester, et cetera). Fibre will be produced by compounding raw materials into one. Fibre then will undergo the process of spinning to become yarn. The production process begins with yarn purchasing and progresses through knitting, dyeing, and finishing. The processed fabric is then ready for further production. Process of Manufacturing (after processed fabric) is given below in details: No. Design It is given by buyers to manufacturers containing sketches including measurements of particular styles Manual/Computerized 02 Basic Block Basic block is an individual component of garments without any style of design Manual/Computerized 03 Working Pattern When a pattern is made for a particular style with net dimension regarding the basic block along with allowance then it is called working pattern. Manual/Computerized 04 Sample Garments After making a sample, it is sent to buyer for approval to rectify the faults Manual 05 Approved Sample After rectify the faults, sample is again sent to buyers. Manual 06 Costing Fabric Costing, Making Charged, Trimmings, Profit Manual 07 Production Pattern Making allowance with net dimension for bulk production Manual/Computerized 08 Grading Different in sizes. S, M, L, XL, XXL Manual/Computerized 09 Marker Making Marker is a thin paper which contains all the components for different sizes for a particular style of garments Manual/Computerized 10 Fabric Spreading To spread the fabrics on table properly for cutting Manual/Computerized 11 Cutting To cut fabric according to marker dimension Manual/Computerized 12 Sorting & Bundling Sort out the fabric according to size and for each size make in individual bundles Manual 13 Sewing To assemble a full garments Manual 14 Ironing & Finishing After sewing we will get a complete garment which is treated with steam ironing & also several finishing processes are done for example extra loose thread cutting Manual 15 Inspection Should be approved as initial sample Manual 16 Packing Treated by Polyethylene bag Manual 1.3 Inventories Valuation Method Cost is determined using the first-in-first-out method for Padini Holdings Berhad for the financial year ended 30 June. p. 62 Note: *Full page copy of Financial Statement for this particular section will show at Appendix. 1.4 Amount of Closing Inventories The amount of closing inventories as reported in the financial statement for Padini Holdings Berhad was RM192, 285, 000 for the financial year ended 30 June. p. 80 Note: *Full page copy of Financial Statement for this particular section will show at Appendix. References: 1) http://www.indiamart.com/kishco-silver/products.html 2) http://crisil.com/pdf/research/CRISIL-Research-cust-bulletin_jan12.pdf 3) http://en.wikipedia.org/wiki/Textile_industry 4) http://www.bloomberg.com/quote/PAD:MK 5) http://tlc.howstuffworks.com/home/how-is-fabric-created1.htm

Motivational Letter Example Essay

This letter is to express my interest in bringing my diverse professional background and experience to your organization.   I possess excellent interpersonal skills and am effective in motivating, mentoring, and coaching others demonstrating solid leadership skills. As you can gather from my attached resume, I am currently working as a Realtor for a major real estate firm.   My professional background includes working in both the public and private sector and it demonstrates my flexibility and adaptability to work in a variety of work environments. In addition to the skills noted on my attached resume, I can also offer your organization: Excellent customer service skills and a proven ability to increase customer satisfaction. An ability to work in a fast-paced environment utilizing my multi-tasking skills. Self-motivated and goal-oriented professional dedicated to achieving personal and professional growth. It is my hope that my education and professional experience will convey to you that I have the qualifications to make a valuable contribution as a School Counselor at any institution.   Should you have any questions, I can be reached at the number listed above.

Causes of the French Revolution Essay

An illustration of this is in document figure 11 which has both —– and —– factors from a societal scientific discipline position. This papers shows the members of the national assembly who decided to take a base and vowed to non divide until they made a fundamental law subsequently known as the â€Å"Tennis Court Oath† . This papers truly shows the continuity the people of France had to do life every bit just for both the royals. provincials and everyone in between. As you now know there are many factors that led up to the Gallic Revolution and one of the biggest causes was economic crisis. While the royal household was happy holding banquets the people of France were hungering and many could hardly afford the monetary value of a four pool loaf of staff of life. In document figure 15 it shows how the monetary value of staff of life skyrocketed in merely a year’s clip and how much of a person’s income was spent on staff of life. Not merely was the monetary value hideous but it was the chief component in their diet so they could non travel without it. This papers is a secondary beginning and it shows both political and economic positions in a societal scientific discipline position. Another illustration of economic confusion is in document figure 10. In this papers it shows the fiscal jobs in France during 1789. The economic system was so unhealthy that non merely were the urban common mans in debt the male monarch besides was. When adding up the monetary value of nutrient. rent. tithe. revenue enhancements. and dressing it put the common mans at an amazing 170 % entire. and although it was a lesser sum the male monarch was besides in debt by a humongous 60 % . This papers has both political and economic points and even though it is a secondary beginning it truly makes you believe about how difficult it must hold been for the people to merely last. Throughout history there have been many people who wanted power. to be a leader and stand over others and demo that they are of a greater category. And to the people king Louis XVI and Marie Antoinette were seeking to demo their laterality. Political positions have ever been a large portion of society and they were besides a immense subscriber to the start of the Gallic Revolution. Document figure one has a picture for both King Louis XVI and Marie Antoinette which clearly shows that they are rich and powerful. As you look at Marie in this image you can see that she had no job paying a monetary value to look beautiful and Louis closet indicates that he has large luxuries and they love to demo it. This papers is a primary beginning and has political. economic. and cultural positions. Another great illustration for a political cause is document figure three. This papers non merely has a political position it besides shows economic. cultural. and psychologically positions in a primary beginning. It talks about the adversities a adult female and her hubby are confronting seeking to run into the demands of the royals. the papers states â€Å"The revenue enhancements and feudal dues are oppressing us. † What sent many people over the border was non being treated reasonably until they eventually snapped.

Coaching and aligning a team Term Paper Example | Topics and Well Written Essays - 500 words

Coaching and aligning a team - Term Paper Example This cooperation among team members can be enhanced further by the leadership of the team leader. For the time being, the Chairman must play the role of the team leader and must consider the fact that even when team members are intelligent or hard-working, each member has their own strengths and weaknesses. His experience and wisdom can ably guide the management team to work together. However, initially it can be a daunting task to ensure that each team member has left any previous experiences and biases behind so they can focus solely on the current situation. Katzenbach and Smith (1993), write in an article titled, The discipline of teams, note â€Å"When individuals approach a team situation, especially in a business setting, each has preexisting job assignments as well as strengths and weaknesses reflecting a variety of talents, backgrounds, personalities, and prejudices† (p. 168). This meant being very effective in coaching the management team to focus on their rolees and stay out of politics. The chairman must also learn how to listen to the members of the Board but he must be firm in emphasizing that they should not be involved in the operational aspects. Another advice that the Chairman of the Board can take is that he must employ his excellent interpersonal skills. This would mean being open, frank, or straightforward in his transactions with both management team and board members. It would be helpful to have good demeanor in communicating with the team since they are all professionals; however, as Chairman, he must speak out his mind to arrest the situation. He could start by having a personal briefing to each member ( both mgt, team and board members) so he can address the issues directly and succinctly. By doing so, he is evaluating the opinion of each person which can help him make his own decisions later. In short, he is consulting the people as a coach. Managers do appear to prefer medium by corresponding it to the richness of the

Essay assignment Example | Topics and Well Written Essays - 500 words - 3

Assignment - Essay Example However, these programs cannot eliminate food insecurity completely. This work represents the project, including the number of strategies, which will help to reduce the rate of food insecurity in the USA. The first measure, which must be included in the program, is an annual monitoring of the state of food security. The forecast of socio-economic development of the country should contain the current and medium-term balance of production and the consumption of basic foodstuffs. This step will give the government an opportunity to predict the gabs in the process of development of the food market and take steps for their elimination. The second measure includes the introduction of the analysis of price and food proportions into the practice of the government in order to increase the volume of agricultural products, raise the investment attractiveness of the industry, ensure its financial sustainability and profitability. An important problem of food security remains the quality of food. The poor areas of the USA are often imported with the products, which are of low quality and do harm to human health. Considering this issue, it is necessary to organize a system of quality control of the imported products for the whole technological chain. The particular attention should be paid to the turnover of raw materials and food products with the high level of genetically modified sources. It is necessary to introduce the measures for stimulation and certification of eco products. At the state level, the government should actively promote healthy nutrition policy. The next measure concerns the building of a strong nutrition safety net. Even those people, who have a good level of income, can face financial troubles, caused by seasonal unprofitability, family conditions and so forth. In this case, it is important for them to be supported by the state authorities by means of the available access to the USDA’s assistance

Examination of the Extent to which section 51 Companies Act 2006 has Essay

Examination of the Extent to which section 51 Companies Act 2006 has clarified the Law relating to Pre-Incorporation Contracts - Essay Example The purpose of pre-incorporation contracts is to encourage entrepreneurship and efficiency in creating simplicity and flexibility in formation and maintenance of companies. It also satisfies the need of an upcoming company to acquire rights and liabilities. This ensures that the company can start with business after incorporation. The challenge is that these companies do not have legal personality, due to their inexistence, and thus cannot make agreements. It is therefore important to evaluate the advantages and the shortcomings, and the future of the same on the role of promoters. If the Company does nothing, it is taken to have ratified to the agreement and the promoter is not be personally liable for the agreement. However, if the incorporation of the company has not been done or, after incorporation, rejects the agreement, the promoter becomes automatically liable for liabilities that may be created in the course of acting as promoter and entering into agreements. The liability i s then discharged only if the company subsequently enters into an agreement on similar terms or in exchange of, the pre-incorporation contract; or to the ends that the Board ratifies or is taken to have ratified the contract or action. The only option is then to have a promoter or agent contract in the company’s behalf. They thus incur liability for the company before incorporation. A promoter, according to the case of Twycross v Grant, 3 is one who forms a company with reference to specific projects and set it going, and take necessary steps to meet that purpose. This includes those who take the procedural steps necessary to form the company, or sets up the company’s business, but not those acting merely in professional capacity on the instructions of a promoter. They deal with formalities of registration of companies, from finding directors and shareholders to holding negotiations for business contracts for the new companies. They are also involved in the formation o f a company and are thus personally liable for the pre-incorporation contracts as neither the principle and agent relationship exists. Reason being the lack of that relationship between the agent and the principal as there is in real sense no principle. The common law puts in obstacles to those wishing to contract on behalf of such companies. This is to discourage people from signing or contracting on behalf of non-existent companies. These companies are not legal entities and thus are not permitted to perform juristic acts. According to common law, no person has the right to act as an agent of a company not yet established, in the expectation of ratification after it becomes incorporated. A company cannot then gain legal status before its existence of attaining contractual rights or sustaining contractual liabilities that exist from pre-incorporation agreements. These contracts cannot then oblige a company. The status of promoters ceases to exist after formation of the board of dir ectors. Promoters of the company may also undertake to enter into contracts on the entity’s behalf, where the company may later refute to approve or consent after incorporation. This position is important as it prevents fiduitiary promoters claiming to be acting for the company, as in the case of

Organisations and Behaviour Essay Example | Topics and Well Written Essays - 2750 words - 1

Organisations and Behaviour - Essay Example Decision making is something that keeps the organization active and flourishing while adapting the uncertainties in the environment. The process of Decision making gets heavily influenced by the rate at which the information travels and the number of members it can reach inside an organization. These two factors are generally considered as less positive in a hierarchical structure of an organization. Today the trend of participation of the workers in the decision making process is significantly dominating the markets. According to Frederick Winslow Taylor who is regarded as the Father of Scientific Management, the management of the firm should organize the work in a manner which will make optimum use of the workers, by dividing the work and introducing efficient methods for making a product. Taylor’s concept focused mainly on hierarchic organization structures and task specialization. Taylorism states that there is a best way for each task and it can be learnt through proper t raining and development. (Asseldonk & Vos, 2007, pp. 1-3) The theory of Taylorism represents a mass production system. This theory views the workforce simply as machineries which can be made efficient by the reduction of wastage. However, this theory completely neglects the usual complications that happen within a normal human being. Hawk Car company continuously followed conventional production methods as was proposed by Taylor’s theory. The workers used to follow an assembly line production process where each one had to perform a specific job. Job specialization created frustration among the workers. Their job became monotonous. For example, the worker who used to fit lights into the vehicles, continued to fit lights for his whole work life. He never knew how to fix the seats in a car. As a result the workers felt lazy and de-motivated with their work. Also the hierarchical system in the management treated the workers as costs. Their opinion or suggestion was not at all con sidered to be important. Due the hierarchy structure of the organization, the workers felt uncomfortable speaking to their managers about their discomfort. The relationship between the manager and the workers followed the authoritative style where two way communications was never entertained. The higher level employees only used to give directions to the workers and the supervisors only had a close watch on their works. No one bothered about the grievances of the employees. (tiplady.org.uk. n.d, pp.1-2) also the standardized form of production failed to meet the market demands. Taylorism way of management prescribed the organization to separate the planning and execution activities. It recommended division of labor and too much hierarchy into the management. However, the management of Hawk Car Company realized soon that too many levels in the organization makes the functions too much complicated. For the betterment, management opted for participative style of management where the la yers of hierarchy were reduced putting emphasis on the participation of each member in the decision making and planning process. It also trained the employees in such a manner so that they can gain knowledge about the entire production system. The workers were provided scope to grow in their position by better performance. The training focused on the worker’s personal issues as well which were addressed with care. The aim of this remodeling decision