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  • Accounting for Inventory and Cost of Goods Sold Expense

    Accounting for Inventory and Cost of Goods Sold Expense

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    “The most significant expense in an enterprise is the cost of goods sold (COGS) and it can vary depending on the company’s industry, production process, inventory levels, and consumer demand. Inventory accounting is the accounting technique for identifying and recording all of the products and inventory held by an organization. When an organization sells a product to its customers, it records its purchase price as a sales revenue and deducts the purchase price from the value of the inventory on hand. Inventory accounting is crucial for organizations that produce goods

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    In the case of a large retailer, our client, we have the task of reviewing the cost of goods sold and inventory expenses from their 3rd quarter results. Our review of financial statements from the second quarter shows some significant trends that merit discussion in this case study. First, the sales growth for the quarter has been less than 2%, which does not justify the increase in total costs, as they rose 6.2%. The explanation given in the reports was that it is due to the increase in inventory. But from

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    Inventory costs are an important component of accounting for the goods sold. I’ve discussed inventory costing in the past so I’ll briefly recap the topic for those who don’t know. Inventory costs are the expenses that a company incurs in acquiring, producing, and storing goods. The costs include raw materials, work in progress (WIP), finished goods, and returned goods. When a business acquires goods, it’s typically at cost, which includes selling prices or prices at which the business wants to sell the goods. This is

  • Unilevers Lifebuoy in India Implementing Sustainability

    Unilevers Lifebuoy in India Implementing Sustainability

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    I believe we can learn something significant from Lifebuoy, and we should learn from their sustainability program, which has earned them the coveted Green Peal from Greenpeace. Unilever’s Lifebuoy is known for its ‘Freshness-Love’ motto, which has worked wonders for the brand. Unilever India, which is now the second largest consumer goods company in the country, aims to achieve carbon neutrality by 2030, and Lifebuoy’s sustainability programs are

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    India is one of the fastest growing economies globally, and Lifebuoy, one of Unilever’s iconic brands is embarking on a journey to become a sustainable and profitable brand. Unilever’s Indian business is expected to grow at over 10% by 2019 as part of its growth strategy. As part of this strategy, Unilever India launched Lifebuoy brand in 2012 to address a growing consumer need for hand hygiene. In this 6

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    Lifebuoy is a well-known soap brand under the Unilever group. I’ve been a fan of Lifebuoy’s products for over a decade. In India, the brand is popular amongst the masses and I have personally encountered several times. As per the statistics, Lifebuoy has over 50% share of the personal hygiene market, which is quite an achievement considering the price tag of its products. Lifebuoy is a trusted and beloved product in the household. But in India

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    In the context of the global Sustainable Development Goals (SDGs) that seek to end poverty, reduce inequality, and safeguard our planet, we at Unilevers India have taken a proactive step to integrate sustainability into its core business. As a brand that prides itself in providing affordable soap and sanitary products to underprivileged communities, Unilevers India has recently launched a unique and groundbreaking social initiative that is creating a societal impact. Unilevers Lifebuoy is the world’

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    “Unilever’s Lifebuoy soap manufacturing unit in Hyderabad was established in 2006. It is situated in the heart of Hyderabad and houses a dedicated unit for green water and waste water treatment. In 2014, Lifebuoy, along with its parent company’s Group, entered into an agreement to implement the ISO 14001:2015 environmental management system. This system has helped to improve Lifebuoy’s overall environmental performance and reduce the company’s carbon

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    Lifebuoy, the personal care brand owned by Unilever (NYSE:UNL) aims to make people clean, healthy, happy and safe. It is a brand that promotes a good lifestyle through cleanliness, hygiene, and natural ingredients. Lifebuoy has been a pioneer in the development of personal care products in India, particularly its laundry detergent “Lifebuoy Unilever”. In the recent past, the company has implemented sustainability in the

  • Doug Rauch Solving the Food Paradox

    Doug Rauch Solving the Food Paradox

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    I don’t know how many times I’ve stared blankly at my computer screen, wondering if it’s the right year to write this blog post. Every year, at this time, I’d write about the problem of “The Food Paradox,” which has been plaguing our collective culinary scene for decades: We eat more calories, gain weight, but don’t grow taller. Our diet has changed, but our height has barely budged. Bonuses And yet we’re all thicker in the middle. How

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    In “The Big O” by Dan Pink, the author challenges the conventional wisdom by arguing that most business problems can be solved in just five critical actions: focus, culture, knowledge, motivation, and performance. “Paradox” refers to the fact that most of the problems we’re currently facing in the modern world cannot be solved with a combination of just five key actions, because they are interdependent, and the paradox is that if we focus only on one or two of these, we’ll never tackle the other. But

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    Doug Rauch is the CEO and Co-founder of Trader Joe’s and has been writing about sustainable grocery for over two decades. He was also the former Executive Editor at the Wall Street Journal where he oversaw the Journal’s food coverage. He has made a career of helping people to get the most from every meal. In this section, I am going to write about Trader Joe’s in terms of the sustainability. Trader Joe’s is a family-owned grocery chain with its stores

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    Doug Rauch, the new president and CEO of Trader Joe’s, took on one of the biggest challenges in food retailing when he took over the helm in September 2011. Rauch was an expert on this topic, and the industry was skeptical, given his background at Whole Foods, which he helped bring under the brand name. So, we had a long conversation with Rauch that resulted in this article. Title: Doug Rauch Solving the Food Paradox Section: Trader Joe

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  • Richard Henkel GmbH

    Richard Henkel GmbH

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    Richard Henkel GmbH, located in Dresden, Germany, was established in 1995. It is a family business that has grown in the past 20 years to a thriving enterprise employing 148 people in 8 branches. Today the company produces over 1,000,000 meters of labels per year. Our mission is to provide the highest quality labels in Europe. In pursuit of this objective, we have been continuously expanding and modernizing our manufacturing process. One of the key factors in

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  • Patel Brothers Retail Brand Legacy

    Patel Brothers Retail Brand Legacy

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