chapter  8
18 Pages

Accounting history of the Scotch whisky industry

Managing consumption, production and maturation
WithJulie Bower

This chapter describes the evolution of the Scotch whisky industry anchored in the historical context of interaction with the socio-political environment. Attention is drawn to the complex rules and regulations that accompany overseas sales, where the international supply chain necessitates multi-jurisdictional tax planning, as well as the requirements of managing shipping and depletion asymmetries. In addressing the substantial financial commitment demanded by the maturation process, the optimisation opportunities presented by newly emerging financial innovation in areas such as securitisation and portfolio investment are explored.