Chapter 6 Merchandising Operations and Internal Control

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Table of Contents Chapter 6 Merchandising Operations and Internal Control LEARNING OBJECTIVES LEARNING OBJECTIVES (continued) Management Issues in Merchandising Businesses PPT Slide PPT Slide Cash Flow Management Profitability Management PPT Slide Features of the Perpetual Inventory System Control of Merchandising Operations Discussion Inventory Systems PPT Slide Periodic Inventory System Periodic Inventory System (Continued) Discussion Perpetual Inventory System Perpetual Inventory System Perpetual Inventory System (Continued) Taking a Physical Inventory Taking a Physical Inventory (Continued) Inventory Losses Discussion A. Merchandising Transactions Sales Terms Sales Terms (Continued) Purchases of Merchandise on Credit Transportation Costs on Purchases Purchases Returns and Allowances Payments on Account Sales of Merchandise on Credit Payment of Delivery Costs Returns of Merchandise Sold on Credit Receipts on Account Discussion Internal Control Structure: Basic Elements and Procedures Internal Control Defined Elements of Internal Control The Control Environment The Accounting System Control Procedures Discussion Limitations of Internal Control Limitations of Internal Control Discussion A. Internal Control over Merchandising Transactions Internal Control and Management Goals Goals for Management Controls for Meeting Managementís Goals Control of Cash Sales Receipts PPT Slide PPT Slide PPT Slide PPT Slide PPT Slide PPT Slide Discussion Accounting for Discounts Sales Discounts Purchases Discounts Discussion PPT Slide PPT Slide PPT Slide

Author: Needles & Powers