Fundamentals of Accounting

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1.1 Types of Inventories
Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by a business.

1) The type of inventories using by Padini Holdings Berhad is categorised under “Goods for Sale”. For example, cotton, polyester, viscose, fibre, yarn and et cetera.

For “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.
Process
Job



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

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