Fundamentals of Accounting Essay

For Goods for sales inventory is usuall(a)y divided up into1. in the buff Materials a) Natural Raw Materials Cotton, Wools and etc.b) artificial Raw Materials Acrylic, Viscose, Nylon, Polyester, etc.2. Work in shape (WIP) Its starting with reservation Fibre from raw materials (Natural and Synthetic). Following by the process of spin with the produced Fibre and pursue out with Yarn as the concluding product in spinning. Furthermore, Yarn go out be processed into Grey framework by the process of weaving. Lastly, tasteful model is to be do from Grey Fabric. branched Fabric exit be apply for Technical Textiles, Readymade Garments and Home Textiles. These products will add up to further product of final goods.3. unblemished Goods Finished goods will be categorise under the brand of PADINI, SEED, PADINI AUTHENTICS, P&Co, PDI, MIKI, VINCCI and so on. For example of finished goods are sweater, skirt, mess up vest, cotton pant, dress, shirt, belt, dish aerial, 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 celluloid materials (polyester, et cetera). Fibre will be produced by compounding raw materials into one. Fibre because will undergo the process of spinning to become narrative.The production process begins with yarn purchasing and progresses through knitting, dyeing, and finishing. The processed framework is consequently ready for further production. Process of Manufacturing (after processed stuff) is condition below in details No.DesignIt is given by purchasers to manufacturers containing sketches including measurements of special(a) modesmanual of arms/Computerized02 canonical BlockBasic block is an somebody component of decorates without any style of form manual(a)/Computerized03Working PatternWhen a pattern is made for a crabbed style with net dimension regarding the staple block along with fitting then it is called working pattern.Manual/Computerized04Sample Garments afterwards making a ensample, it is sent to buyer for approval to rectify the faults Manual05 canonical SampleAfter rectify the faults, sample is again sent to buyers.Manual06costFabric courting, Making Charged, Trimmings, ProfitManual07Production PatternMaking allowance with net dimension for bulk productionManual/Computerized08GradingDifferent in surfaces. S, M, L, XL, XXLManual/Computerized09 bulls eye MakingMarker is a thin paper which contains all the components for different sizes for a particular style of garmentsManual/Computerized10Fabric public exposureTo spread the fabrics on table in good order for cuttingManual/Computerized11 faux pasTo cut fabric according to mark dimensionManual/Computerized12 form & BundlingSort out the fabric according to size and for each size make in individual bundles Manual13SewingTo assemble a full garmentsManual14iron & FinishingAfte r sewing we will get a complete garment which is treated with steam ironing & in any case several finishing processes are done for example extra loose trace cuttingManual15 brushupShould be approved as initial sampleManual16 packing materialTreated by Polyethylene bagManual1.3 Inventories Valuation MethodCost is determined using the first-in-first-out method for Padini Holdings Berhad for the financial year ended 30 June. p. 62Note *Full rascal replica of Financial Statement for this particular region will show at Appendix.1.4 descend of Closing InventoriesThe amount of closing inventories as reported in the financial educational activity for Padini Holdings Berhad was RM192, 285, 000 for the financial year ended 30 June. p. 80Note *Full page copy of Financial Statement for this particular section will show at Appendix.References1) http//www.indiamart.com/kishco-silver/products.html2) http//crisil.com/pdf/research/CRISIL-Research-cust-bulletin_jan12.pdf 3) http//en.wikipedia .org/wiki/Textile_industry4) http//www.bloomberg.com/quote/PADMK5) http//tlc.howstuffworks.com/ base/how-is-fabric-created1.htm