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									Running head: COST ACCOUNTING: THE ROAD TO BECOMING A PART OF PROCTER AND GAMBLE   1




            Cost Accounting: The Road to Becoming Part of Procter and Gamble

                                  Olivia P. Richardson

                                East Carolina University
COST ACCOUNTING: THE ROAD TO BECOMING A PART OF PROCTER AND GAMBLE                               2


        I plan to graduate from East Carolina University in May 2013 with my Bachelor of
Science in Business Administration, with a concentration in Accounting. Hopefully, I will get
into graduate school so I may either receive my Master of Business Administration or my Master
of Science in Administration. I have jumbled in my head on what I specifically wanted to do
when I graduated from ECU. I took the time to relate my favorite classes to some similar, real-
life jobs. I absolutely loved my managerial accounting and cost accounting classes. What I liked
the most was being able to fill in journal entries using the information I was provided to
determine what goes in and out of a company, like inventory, money, etc. This helped me to
realize what I would like to do when I graduate. Once I have finished my college education, I
plan to work as a Cost Accountant.

        Cost accountants are one of the major positions in a company that help keep the company
running smoothly and efficiently. "The role of a Cost Accountant is to systematically assess the
costs that are associated with manufacturing the product(s) or distributing the service(s) of the
hiring organization" ("Cost accounting career,"). They deal with the main elements of cost,
which are raw materials, labor, and indirect expenses and overhead. They prepare various
reports, such as reconciliations, variance analysis, budget analysis, and end-of-the-month reports
(inventories, cost of goods sold, etc). They typically decide what cost accounting procedures and
methods are used. A cost accountant can tell the company whether particular decisions they are
making can bring them a profit or hurt them in the long-run.

        The company that I would love to work for is Procter and Gamble. They develop beauty
and grooming brands, including Crest, Secret, Head & Shoulders, and others. They also produce
household care items, such as Bounty, Pampers, Febreze, and many others. Their purpose is very
simple. They state: "We will provide branded products and services of superior quality and value
that improve the lives of the world’s consumers, now and for generations to come" ("Purpose,
values, and," 2012). They operate in about 80 countries, but reach out to more than 180 countries
throughout the world. Their values are important to them because it helps keep their company
operating within the company, with their partners, and with their near 4.4 billion consumers.
Their values include integrity, leadership, ownership, passion for winning, and trust. P&G has
held on to these values for more than 160 years. They continue to innovate new brands and
increase the variety of their current brands by listening to their diverse consumers and how they
can improve their lives with P&G products. They just recently became a huge sponsor of the
2012 London Olympic Games and the 2012 World Choir Games in Cincinnati. They also just
recently sold their brand Pringles to Kelloggs. P&G continues to make their company even
larger. They are building a new plant in Guangzhou, China that should be functioning by 2013.
They say that it "will be one of the largest in China and eventually the company will be investing
$1 billion dollars... This is just one example of how Procter & Gamble plans to be growing
overseas and increasing revenue as a global company" (Mylant, 2012).

        One of Procter and Gambles principles discuss how they are externally focused, so it is
very important to keep communication between the company and their external sources. P&G
connects with their external environment through different methods. They are always looking for
innovations through their current partners, future partners, and consumers. They have a website
link called "Connect + Develop" that allows anyone to submit any innovations they may have
that P&G might be interested in or ways to improve the brands that they currently manufacture.
COST ACCOUNTING: THE ROAD TO BECOMING A PART OF PROCTER AND GAMBLE                                   3


They are very open to outsiders because the people using their products are the ones that can best
communicate what works and what does not work. P&G also have worldwide sites that are
translated into the languages of the many countries that they serve. As mentioned before, P&G
has recently become sponsors of some of the biggest events of the world. They are giving
themselves a big name by sponsoring such events. They find it very important to communicate
with their external sources. They say that "providing clear and accurate information to the media
and general public maintains integrity in [their] relationships with the public. Because this is so
important, all P&G business units have a designated external relations or communications
function responsible for communicating product information
and Company positions on a range of issues" ("Our values and," 2009). This projects a huge
image of trust to all who would be affected by these products.

         The organizational structure of Procter and Gamble is very important for them to
communicate well and enable them to grow. They have a chairman, two vice chairmen, and
executives that cover various sections of the company like particular product categories, research
and development, and overseers of continental areas where plants are located. This allows all
aspects of the company to be equally looked over instead of one area being favored over another.
This also allows all of the details to be communicated efficiently and be well-understood. Many
of the various presidents report to the president of operations or the president of global business
units, who then report to the CEO. All of their policies are titled with "respect". They have
policies dealing with respect of government and the law, respect in the workplace, respect in the
marketplace, and respect in society and their communities. All of their policies talk about being
fair in the game while also staying out of things that could potentially get not only the individual,
but the company in trouble.

         There are a few reasons why I feel Procter and Gamble would really work for me. Firstly,
I trust their brands. I actually use quite a few of the products that they manufacture, such as
Crest, Head & Shoulders, and Always. Their products have never let me down. Whenever I shop
for these kinds of items, I always stick with that brand and will not settle for another kind.
Knowing that I am able to trust such a company with their numerous brands makes me feel as
though I can trust working with a company such as P&G. This leads me to another point. I feel I
can also work with them because some of their values match with my major values, especially
integrity and trust. I always want to try to do the right thing so that not only am I gaining the trust
of someone else, but I am able to satisfy myself knowing that I did the right thing.

       If Procter and Gamble ever decide to hire me as one of their cost accountants, they will
have surely made a good choice. With someone who trusts their products, is passionate about her
occupation, and values the same things as they do, they can trust that I will give my all in this job
and be dedicated to the company. Being able to work for such a respectable company would be
an honor. I would love to uphold and ensure the vision of the company: "[To] be, and be
recognized as, the best consumer products and services company in the world" ("Our values
and," 2009).
COST ACCOUNTING: THE ROAD TO BECOMING A PART OF PROCTER AND GAMBLE                        4


Bibliography

   Cost accounting career. (n.d.). Retrieved from http://www.mba-today.com/accounting-
    finance-careers/cost-accountant-career.html
   Purpose, values, and principles. (2012). Retrieved from
    http://www.pg.com/en_US/company/purpose_people/pvp.shtml
   Mylant, J. (2012, April 08). [Web log message]. Retrieved from
    http://seekingalpha.com/article/483731-there-will-be-no-stopping-procter-gamble-an-
    options-strategy-to-consider
   Our values and policies. (2009). Retrieved from
    http://www.pg.com/images/company/who_we_are/pdf/values_and_policies907.pdf
   Organizational chart p&g - procter and gamble. (2012, April 19). Retrieved from
    http://www.theofficialboard.com/org-chart/procter-gamble

								
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