|Author :||Jae K. Shim, Ph.D., CPA|
|Course Length :||Pages: 204 ||| Review Questions: 68 ||| Final Exam Questions: 65|
|CPE Credits :||13.0|
|IRS Credits :||0|
|Passing Score :||70%|
|Course Type:||NASBA QAS - Text - Technical - NASBA Registry|
|Primary Subject-Field Of Study:||
Management Services - Management Services for Course Id 856
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.
|Usage Rank :||0|
|Experience Level :||Overview|
|Additional Contents :||Complete, no additional material needed.|
|Additional Links :||
Retail Sales: Definition, Measurement, as an Economic Indicator
|Advance Preparation :||None.|
|Delivery Method :||QAS Self Study|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||10-Feb-2023|
|NASBA Course Declaration :||Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.|
|Approved Audience :||
NASBA QAS - Text - Technical - NASBA Registry - 856
|Keywords :||Business Management & Organization, Accountants, Guide, Retail, Management, cpe, cpa, online course|
|Learning Objectives :||
2. Recognize the structure of retailing.
3. Identify advantages and disadvantages of online retailing, and methods to improve an online business.
2. Recognize attributes of successful retail businesses.
2. Recognize differences between customers from urban and suburban areas.
2. Recognize techniques for evaluating an employee training program.
3. Identify the goals of a compensation program for personnel.
4. Recognize some of the major causes for job dissatisfaction and employee complaints.
2. Recognize the steps involved in the budgeting process.
3. Identify ways to measure monthly stock variations.
2. Recognize factors that influence the quantities to purchase.
3. Identify inside and outside sources of information on customers wants.
2. Recognize benefits of different options for purchasing merchandise.
2. Identify the terms of sale discounts.
3. Recognize how the terms of sale and datings on invoices are used.
2. Identify the goals of merchandise management.
3. List the basic types of unit control systems.
4. Identify how to minimize stock shortages.
2. Recognize information captured when receiving and recording incoming merchandise.
2. Identify some of the factors influencing markup.
2. Identify different types of effective interior store displays.
2. Identify consumer premiums used to promote retail sales.
2. Identify other customer services use to improve the shopping experience.
2. Recognize the credit legislation with which retailers should be familiar.
3. Identify measurements used to evaluate the effectiveness of the credit department.
2. Identify the attributes of the balance sheet and operating statement.
3. Identify different methods used for accounting control.
4. Recognize the advantages and disadvantages of the retail method.
2. Identify the steps involved in an analysis and comparison of expense.
2. Recognize external crimes that retailers must monitor to identify, control, and limit pilferage.
2. Identify trends in the future of retailing.
|Course Contents :||
Chapter 1: Retailers and Their Structure
The Structure of Retailing
Chapter 1 Review Questions
Chapter 2: Retail Management Requirements
Requirements of Management
Chapter 2 Review Questions
Chapter 3: Retail Store Location
Location: A Continuing Problem
Chapter 3 Review Questions
Chapter 4: Store Buildings, Fixtures, and Equipment
The Store Front and Exterior
The Store Interior
Chapter 4 Review Questions
Chapter 5: Arranging the Store’s Interior-Layout
Factors Affecting Layout
Self-Selection and Self-Service
Chapter 5 Review Questions
Chapter 6: Structure of Retail
Meaning of Organization
Organization of Small Stores
Organization of Large Stores
Chain Store Organization
Major Trends in Store Organization
Chapter 6 Review Questions
Chapter 7: Retail Human Resource Management
Human Resource Management (HRM) Objectives and Functions
Compensating Retail Personnel
Compensating Managerial Personnel
Obtaining Satisfactory Personnel Performance
Chapter 7 Review Questions
Chapter 8: Merchandising Policies and Budgets
General Merchandise Policies
Merchandise Budgeting: Meaning and Objectives
Basic Elements in Merchandise Budgeting
Chapter 8 Review Questions
Chapter 9: Planning and Selecting Item Assortments
Determining Customers' Wants
Chapter 9 Review Questions
Chapter 10: Buying: Selecting Merchandise Resources
Main Types of Suppliers
Chapter 10 Review Questions
Chapter 11: Buying: Negotiating with Merchandise Resources
Terms of Sale: Discounts
Terms of Sale: Dating
Other Negotiations for Merchandise
Chapter 11 Review Questions
Chapter 12: Merchandise Control
The Nature and Purpose of Merchandise Management
Basic Types of Merchandise Control Systems
IT and Merchandise Management
The Physical Inventory
Chapter 12 Review Questions
Chapter 13: Handling Incoming Merchandise
Layout and Equipment for Receiving
Chain Store Handling of Incoming Merchandise
Organization for Incoming Merchandise
Chapter 13 Review Questions
Chapter 14: Pricing
Pricing to Maximize Profits
Some Factors Influencing Markup
Adjustments in Selling Prices
Chapter 14 Review Questions
Chapter 15: Advertising and Display
Steps in the Retail Advertising Program
Chapter 15 Review Questions
Chapter 16: Other Non-Personal Methods of Retail Sales Promotion
Online, Telephone and Mail-Order Selling
Promoting Sales through Improved Packaging
Governmental Concern over Sales Promotion Practices
Chapter 16 Review Questions
Chapter 17: Personal Salesmanship
Importance of Retail Salesmanship
Elements of a Retail Sale
The Selling Process
Management’s Responsibility for Personal Salesmanship
Chapter 17 Review Questions
Chapter 18: Customer Services
The Number and Variety of Services
Customer Complaints and Adjustments
Some Other Customer Services
Chapter 18 Review Questions
Chapter 19: Retail Credit Collection
Types of Retail Credit
Problems of Selling on Installment Credit
Banks, Finance Companies, and Credit Card Companies
Collection of Past-Due Accounts
Evaluating the Credit Process
Chapter 19 Review Questions
Chapter 20: Basic Accounting Controls
The Essentials of Accounting Records
The Balance Sheet
Retail Method: Basic Principles
Chapter 20 Review Questions
Chapter 21: Analyzing and Controlling Expenses
Distribution (Allocation) of Expenses
Expense Comparisons and Analyses
The Goals of Sales Transactions Systems
Types of Sales Transactions
Chapter 21 Review Questions
Chapter 22: Retail Security and Loss Prevention
Fire and Accident Protection
Chapter 22 Review Questions
Chapter 23: Management Coordination and Leadership
Coordination for Profitable Operations
Major Tools of Coordination
Executive Leadership in Retailing
Chapter 23 Review Questions
Chapter 24: Online Retail
Online Retail Strategy
Improving a Retail Website
Future Changes in Retailing
Chapter 24 Review Questions