Accountant’s Guide to Retail Management

Course Description

Retailing, the business of selling consumer goods to final consumers, is constantly changing. Retailers are particularly affected by changes in the consumer population; in the economic, social, technological, and political environment; and in competitive conditions. This course teaches you the main requirements of effective retail management: personal qualifications of management; an adequate financial structure; necessary physical facilities; effective policies and procedures; and competence, loyalty, and productiveness of personnel. Also discussed are online retailing strategy, improving Internet presence, and future changes in retailing.

Learning objectives

• a:7:{i:0;s:58:"Recognize the importance of retailing to the U.S. economy.";i:1;s:37:"Recognize the structure of retailing.";i:2;s:101:"Identify advantages and disadvantages of online retailing, and methods to improve an online business.";i:3;s:47:"Identify the skills requirements of management.";i:4;s:53:"Recognize attributes of successful retail businesses.";i:5;s:57:"Identify the basic factors in choosing a retail location.";i:6;s:70:"Recognize differences between customers from urban and suburban areas.";}
• a:3:{i:0;s:58:"Recognize the key decisions when planning store equipment.";i:1;s:39:"Recognize the factors affecting layout.";i:2;s:69:"Recognize characteristics affected by the organization’s structure.";}
• a:10:{i:0;s:53:"Identify the steps to recruit an adequate work force.";i:1;s:65:"Recognize techniques for evaluating an employee training program.";i:2;s:59:"Identify the goals of a compensation program for personnel.";i:3;s:83:"Recognize some of the major causes for job dissatisfaction and employee complaints.";i:4;s:55:"Recognize the characteristics of merchandise budgeting.";i:5;s:54:"Recognize the steps involved in the budgeting process.";i:6;s:50:"Identify ways to measure monthly stock variations.";i:7;s:42:"Identify the types of formal buying plans.";i:8;s:60:"Recognize factors that influence the quantities to purchase.";i:9;s:73:"Identify inside and outside sources of information on customer’s wants.";}
• a:9:{i:0;s:31:"Identify merchandise resources.";i:1;s:67:"Recognize benefits of different options for purchasing merchandise.";i:2;s:39:"Recognize the attributes of an invoice.";i:3;s:37:"Identify the terms of sale discounts.";i:4;s:65:"Recognize how the terms of sale and datings on invoices are used.";i:5;s:49:"Recognize the limitations of merchandise control.";i:6;s:45:"Identify the goals of merchandise management.";i:7;s:45:"List the basic types of unit control systems.";i:8;s:41:"Identify how to minimize stock shortages.";}
• a:6:{i:0;s:97:"Identify the advantages of centralizing the activities in receiving and distributing merchandise.";i:1;s:81:"Recognize information captured when receiving and recording incoming merchandise.";i:2;s:44:"Recognize limitations of pricing techniques.";i:3;s:48:"Identify some of the factors influencing markup.";i:4;s:59:"Recognize steps involved in the retail advertising program.";i:5;s:62:"Identify different types of effective interior store displays.";}
• a:5:{i:0;s:85:"Recognize non-personal methods of sales promotions - email, telephone and mail-order.";i:1;s:56:"Identify consumer premiums used to promote retail sales.";i:2;s:61:"Identify the general rules and elements in the sales process.";i:3;s:49:"Identify the major causes of customer complaints.";i:4;s:72:"Identify other customer services use to improve the shopping experience.";}
• a:9:{i:0;s:46:"Recognize a variety of types of retail credit.";i:1;s:73:"Recognize the credit legislation with which retailers should be familiar.";i:2;s:82:"Identify measurements used to evaluate the effectiveness of the credit department.";i:3;s:52:"Recognize the purposes served by accounting records.";i:4;s:69:"Identify the attributes of the balance sheet and operating statement.";i:5;s:55:"Identify different methods used for accounting control.";i:6;s:64:"Recognize the advantages and disadvantages of the retail method.";i:7;s:64:"Recognize methods for an allocation or distribution of expenses.";i:8;s:69:"Identify the steps involved in an analysis and comparison of expense.";}
• a:5:{i:0;s:90:"Identify different internal theft problems that create the need for prevention strategies.";i:1;s:96:"Recognize external crimes that retailers must monitor to identify, control, and limit pilferage.";i:2;s:83:"Recognize the prime responsibility of executive management leadership in retailing.";i:3;s:123:"Identify the elements that online marketers should take into account when evaluating the opportunities of online retailing.";i:4;s:43:"Identify trends in the future of retailing.";}

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.