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Business Related Question: Breakage
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As previously mentioned I'm THIS close to officially being self employed. Understand: I don't watch business shows like The Apprentice or Dragon's Den. I read books by 50 Cent. I watch Breaking Bad. I watch Top Boy. As an graduate I like the idea of the reverse of how people see 'street artists' turn into Harvard graduate. I like the idea of doing the opposite, if you will.
I mention Breaking Bad (without spoilers) because they are talking about 'Breakage'.
I notice if an customer breaks somethigng Primark/K-Mart/etc it's profit loss accounts to 'breakage loss'.
I'd like to ask how business people deal with breakages in their line of business.
I am not with the police and your comments are privately stored for my notes ONLY, Walter and Jesse. |
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By (user no longer on site)
over a year ago
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If a customer has broken an item without purchasing it then it's listed as "breakage loss"
"It depends what kind of business you have though. For example, a demolition outfit aren't very good if they DON'T break something!  "
Strictly speaking that's classed as "services rendered" but ha ha  |
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"It depends what kind of business you have though. For example, a demolition outfit aren't very good if they DON'T break something! "
Niiiiiiiiiiice! :p Okay, let's say your company breaks something the customer didn't want breaking...? |
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By (user no longer on site)
over a year ago
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All comes under 'shrinkage'. Shrinkage is loss of physical product though theft, ood, stocktaking, breakage etc. Various controls need implicating to avoid these losses. Failure to address shrinkage effects bottom line profit. |
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By (user no longer on site)
over a year ago
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Woah hang on, you're all missing the most important part of this post, the most glaringly obvious yet subtly made point........50 Cent writes books?  I thought that fella had trouble writing his own name let alone full on books |
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By *icketysplitsWoman
over a year ago
Way over Yonder, that's where I'm bound |
"Woah hang on, you're all missing the most important part of this post, the most glaringly obvious yet subtly made point........50 Cent writes books? I thought that fella had trouble writing his own name let alone full on books "
Thanks for making me laugh.
If you break more than you sell then there is a problem.
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By (user no longer on site)
over a year ago
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"It depends what kind of business you have though. For example, a demolition outfit aren't very good if they DON'T break something!
Niiiiiiiiiiice! :p Okay, let's say your company breaks something the customer didn't want breaking...?"
Sounds like an issue for your liability insurance. |
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By (user no longer on site)
over a year ago
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Does it not work best as a loss? (Shrinkage)
The items we make and services we provide are only breakable by us, in the unlikely event that this happens we make that breakage right and deduct the costs from profit labelling them as cost, in some cases this would mean that a job or order was a complete minus to us but luckily this hasn't happened yet and when it does it will be balanced by the rest of the month.
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"Breakages would sit in the loss column and come off your stock assets. If you break clients' things then you will lose business but your insurance should cover you.
"
I used the right honourable gentleman's business as a example. I'm talking about breakage in general... I really didn't want to come to this but the best way I can describe what I mean is season 2 of Breaking Bad when Jesse's mate gets robbed of the 'food' and money. Jesse said it was an breakage. Does that make sense? |
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"Woah hang on, you're all missing the most important part of this post, the most glaringly obvious yet subtly made point........50 Cent writes books? I thought that fella had trouble writing his own name let alone full on books "
Actually lost count of how many he HAS written. With ghost writers ofc... But the books like 'The 50th Law' and 'From Pieces to Weight' are the kind of books that interest me.
Hustling. I've never been business school. I'm not business minded. But I know hustling.
And no, I've never sold hard drugs. I don't mean THAT kind of hustling. :P |
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By (user no longer on site)
over a year ago
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"Breakages would sit in the loss column and come off your stock assets. If you break clients' things then you will lose business but your insurance should cover you.
I used the right honourable gentleman's business as a example. I'm talking about breakage in general... I really didn't want to come to this but the best way I can describe what I mean is season 2 of Breaking Bad when Jesse's mate gets robbed of the 'food' and money. Jesse said it was an breakage. Does that make sense?"
So you want drug dealing tips?  |
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