Percentage of the final selling price that is (gross) profit. #RetailPlanning #FinancialManagement #Pricing #RetailSelling
Calculations to determine operational solvency based on ability to convert to cash. #FinancialManagement
The amount of money owed to vendors, mostly for merchandise inventory. Accounts payable appears on the balance sheet. #FinancialManagement
The practice of evaluating performance by comparing one retailers performance with that of other retailers using a similar retail strategy. A benchmarking analysis must define objectives or outcomes. Primary objectives for implementing benchmarking procedures could include: ...
Additional discount granted by certain vendors for payment made in advance of the discount date. #FinancialManagement
The amount of money that is due to an organization from its customer. Accounts receivable appears on the balance sheet. #FinancialManagement
Liabilities that accumulate daily but are only paid at the end of a time. #FinancialManagement
Used by retailers, accrual accounting requires revenues and expenditures to be recorded in the period they are generated or incurred, regardless of when the money is received or spent. #FinancialManagement
A standard used for comparative purposes. Generally the user will be rated against a benchmarked expert who has certain skill level. Financial and non-financial insight into operations, lead strategy, effect change and generate results for the organization. #Pricing ...
Gross Margin Return on Inventory (GMROI) = Gross Margin ÷ Average Inventory at Cost What it is This benchmark measures how efficiently the store has invested in inventory, or the store’s ability to turn inventory into cash after deducting the cost of inventory. This ratio...