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Lecture "International accounting - Chapter 4: Merchandising operations" has content: What are merchandising operations, accounting for inventory in the perpetual system, adjusting and closing the accounts of a merchandiser, preparing a merchandiser’s financial statements, three ratios for decision making. | International accounting Chapter 4: Merchandising Operations LOGO Chapter 4 MA. Nguyen Quoc Nhat Learning Objectives 1. Describe and illustrate merchandising operations and the two types of inventory systems 2. Account for the purchase of inventory using a perpetual system 3. Account for the sale of inventory using a perpetual system 4. Adjust and close the accounts of a merchandising business 5. Prepare a merchandiser’s financial statements 6. Use gross profit percentage, inventory turnover, and days in inventory to evaluate a business 7. Account for the sale of inventory using a periodic system 8. Prepare worksheets for a merchandiser www.themegallery.com Company Logo Chapter ‘s content 4.1 What Are Merchandising Operations? 4.2 Accounting for Inventory in the Perpetual System 4.3 Adjusting and Closing the Accounts of a Merchandiser 4.4 Preparing a Merchandiser’s Financial Statements 4.5 Three Ratios for Decision Making www.themegallery.com MA. NguyenQuocNhat Company Logo nhatnq.faa@gmail.com 1 International accounting Chapter 4: Merchandising Operations 4.1 What Are Merchandising Operations? www.themegallery.com Company Logo 4.1 What Are Merchandising Operations? The operating cycle of a merchandiser is as follows : 1. It begins when the company purchases inventory from a vendor. 2. The company then sells the inventory to a customer. 3. Finally, the company collects cash from customers. www.themegallery.com Company Logo 4.1 What Are Merchandising Operations? Inventory Systems: There are two main types of inventory accounting systems: ● Periodic system ● Perpetual system www.themegallery.com MA. NguyenQuocNhat Company Logo nhatnq.faa@gmail.com 2 International accounting Chapter 4: Merchandising Operations 4.1 What Are Merchandising Operations? Inventory Systems: There are two main types of inventory accounting systems: ● Periodic system - the business physically counts its inventory periodically to determine the quantities on hand ●
