DAO Web Page of Fame

Celebrating Summer Successes Since 2006

  INDUCTEE:  Burke, Josh

YEAR:   2009

CATEGORY:  Pivot Tables

 

 

campbell logo.gifDuring his internship, Josh was given a project to streamline the trade expense/accrual process for Campbell USA.  The trade expense is for trade promotions performed by grocers (Campbell customers) on behalf of Campbell.  Campbell reimburses the grocers for these promotions, and Josh observed that the company was classifying 100% of this liability balance in the current portion of the balance sheet.  Josh knew this was hurting the company in the eyes of credit agencies who use the breakout between current and non-current liabilities when assessing a company’s credit rating.  After assembling data on 600,000 separate trade promotions, Josh used pivot tables to quickly determine that  4% of these promotions were paid over a year after the actual trade event and thus qualified as non-current liabilities.  Josh used the 4% number to quantify the dollar amount of liabilities that could be reclassified as non-current as part of his argument to change how these liabilities would be classified in the future.

Josh’s work and insights received the following praise from Carolyn Smart, Brand Finance Manager:

"I was very impressed with Josh's approach to this project and his use of tools to analyze the data and quantify the impact of his findings. Josh's recommendations not only improved the efficiency and consistency of our trade accrual process, but they also improved the accuracy of our balance sheet account classifications. We have already implemented several of his recommendations and truly value the insights that he brought to one of our largest expenses.”