Unit Objectives

At the end of this unit, you will be able to:

1. Understand importance of being an entrepreneur

 2 Understand concepts of tailor shop economics like book keeping, inventory management


Documentation is one the most crucial aspect of every job. By completing documents it is ensured that details of every transaction/event/incident are recorded and can be accessed when required.

Due to limitations of human memory, it is very difficult to remember each transaction and its details. In order to keep a record of all the transactions, routine or special, tailor maintains and updates different types of registers The importance of this information varies with time and situation. Some information is casual and day to day observation, while others are unusual and spontaneous. Due to limitations of human memory, a tailor’s recall capacity is limited. Important events/incidents can be recalled with accuracy if some writing exercise is carried out and notes are made.

Maintaining Registers

The need for maintaining registers is explained below:

. To keep a record of transactions carried out

. To maintain order and uniformity in recording details

. A register is a documentary proof of a transaction carried out

.  Gives a consolidated summary of a particular kind of transaction in a given period

. Can be used as a legal document

. Details of a past event can be retrieved whenever required

. To provide statistics of daily/monthly movement of men/material

. To maintain proper records of an incident on a day for future reference

 According to the requirement, the tailor can use some registers. Commonly used registers are:

. Handing/Taking over Register

. Visitor Register (In/Out Register)

. Measurement Register

. Material Register

While maintaining a register a tailor should always remember the following key aspects:

. Register is to be named and all the pages are to be numbered

. Register is to be kept in good condition

. Pages of registers not to be torn or detached

. Use only blue/black pen while making entries

. Avoid corrections/overwriting

. Do not relocate the register from its designated post

. One dedicated register to be maintained for a particular purpose

.  First entry of the day to be made on the current date

. All the fields of a particular entry are to be filled.

. Do not keep fields incomplete

Register Formats – Attendance Register

Cost Sheet

A statement which provides for the assembly of the detailed cost of a centre or a cost unit It is also a periodical statement.

A cost sheet is prepared to know the outcome and breakup of costs for a particular accounting period. Columnar form is most popular Although cost sheets are prepared as per the requirements of the management, the information to be incorporated in a cost sheet +should comprise of cost per unit and the total cost for the current period along with the cost per unit and the total cost of preceding period. Data of financial statement is used for preparation of cost sheet. Therefore, reconciliation of cost sheet and financial statement should be done on a regular interval.

The expenditure which has been incurred upon product for a period is extracted from the financial books and the store records and set out in a memorandum statement. If this statement is confined to the disclosure of the costs of units produced dividing the period, it is termed as Cost- Sheet, but where the statement records both total cost, profit and sales, it is usually known as Statement of Cost or Production Account.