Day 1 P/L

Hahahaha.. the chances are if you are reading this blog you were searching for guidance on how to account for day 1 profit and loss. You are a trader, accountant, auditor or a true-to-goodness hardworking student... Sorry.. this blog is to document my journey towards my dream. My dream of starting my own business.

I LOVE making jewelry. No pure lapidary but more the basic kind: wire wrap jewelry, costume jewelry, semi precious stones -citrine, amethyst, blue topaz.. you get the drift? Yup that's exactly what I want to do. Make jewelry and sell. As I mentioned elsewhere, I ain't claiming to be the next David Yurman. I know where I stand in terms of jewelry design in the ocean of talented artisans who can put me in my place whenever they want to. I only claim that I can make decent jewelry that is affordable AND pretty. I source the world for the best material. I will walk the length and breadth of Singapore, Bombay, Bangkok or anywhere else I travel to in an attempt to get the best material I can afford. I take this material and make them into simple and elegant jewelry. This hobby has become too expensive to continue. I am like a junkie with a serious addiction she can't break.

So it has come down to two things. Either I start selling what I make to continue to afford doing this or stop this altogether. I can't seem to stop. In the past 9 years since I have been working as an auditor I have been trying to stop. NO GO. I love making jewelry. I want to own my own business. So.. perfect combination ain't it? Time will tell.

I have truly come to the conclusion that I am much better off being a jeweler than an auditor/accountant. I had to ask myself if I can do this. Should I study for the CFA or make jewelry. I have been making jewelry since I asked myself that question. I think I should at least give myself a chance to do this. So.. that's where day 1 p/l comes into place. I have set up shop in Etsy. Day 1.....when this day end, I would know if it is a profit or a loss.

Check out my shop.