5-‹#›

5-‹#›
5-‹#›
 Accounting for
Chapter 5 Merchandising Operations
Learning Objectives
After studying this chapter, you should be able to:

1. Identify the differences between service and merchandising

companies.

2. Explain the recording of purchases under a perpetual inventory

system.

3. Explain the recording of sales revenues under a perpetual inventory

system.

4. Prepare an income statement for a merchandiser.

Sale R
Net sale: -
Sale returns. Allowance -
Sale Discount

5-‹#›
 Preview of Chapter 5

Loading…

Financial Accounting
IFRS Second Edition
Weygandt Kimmel Kieso
5-‹#›
 not perform services
I
Merchandising Operations provide goods

Merchandising Companies
Buy and Sell Goods
got
higherprice
tracking
sell at on
buy lower price,
at
-
Waltmart
Eg:Winmart, BigC,

Wholesaler Retailer Consumer

The primary source of revenues is referred to as

sales revenue or sales.
Previous: service revenue

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Merchandising Operations
Service comp:
NP
Service Per-Expense
Income Measurement
=

Not used in a
service business.

Loading… Illustration 5-1

Cost of goods sold is the total

cost of merchandise sold during
the period.

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Merchandising Operations

Operating service comp-> Cus

Cycles Merchandisor

Merchandison Cus
Suppliers
->
->

The operating cycle

of a merchandising
company ordinarily
is longer than that of
a service
company.

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Merchandising Operations

Flow of Costs *
Illustration 5-4
~

Opening Inventory (mira their 100) -> available

+ 100
Buy previous period,
not

Purchase
i
sold
ti kitre no chia ban tel
10
Opening It
:Available for sale
mua

- Sale
=110 =Ending Inventory

sold
I

90 20

co'll0 chi ban go-> ending ↳

thong saw beginning I 20
=

Companies use either a perpetual inventory system or a periodic inventory

system to account for inventory.

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Merchandising Operations

Flow of Costs
chebo perpeptual, k" ho periodic
Perpetual System ->

● Maintain detailed records of the cost of each inventory

purchase and sale. Lay"Lang-ghi
Bain hang-ghi
-

● Records continuously show inventory that should be on

hand. Sit fit hang lai
vory so can

● Company determines cost of goods sold each time a

sale occurs. Molairtimer lion
for lai/
gross profit cho thing to hang.

Dis:mi Cai mua/ban- ghi, loinhuan

higiayphutwas debt so' hiring -> whip them, make sure refine trang
Ads:But

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Merchandising Operations

Flow of Costs
Periodic System Ithng 1 law)

● No detailed inventory records of goods on hand

throughout the period.
● Cost of goods sold is determined only at the end of
accounting period
Nhan no that the atby tang ring thing bit

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Merchandising Operations Flow of Costs

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Merchandising Operations

Flow of Costs
Additional Consideration
Perpetual System:
●
values.
Loading…
Traditionally used for merchandise with high unit

● Provides better control over inventories.

● Requires additional clerical work and additional cost to
maintain inventory records.

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Recording Merchandise Transactions

Sale
Buy

5-‹#› LO 1 Identify the differences between service and merchandising companies.

 Recording Purchases of Merchandise

● Made using cash or credit (on account).

Illustration 5-6

● Normally recorded when

goods are received.

● Purchase invoice should

support each credit
purchase.

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

 Recording Purchases of Merchandise – Credit purchase

Illustration 5-6
Illustration: Sauk Stereo (the
buyer) uses as a purchase invoice
the sales invoice prepared by PW
Audio Supply, Inc. (the seller).
Prepare the journal entry for
Sauk Stereo for the invoice from
PW Audio Supply.
Date Aca Cr Dr
45
Inventory 3508
S

May 4 Alay able 3,500

↑

invoice

↳chim rations
5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.
 Recording Purchases of Merchandise - Freight

Freight Costs – Terms of Sale Sellers Buyers

Illustration 5-7
Shipping terms
-
Cus
Ai chi stp? I
- FOB
shipping point:
FOB destination:seller

Seller places goods Free On

Board the carrier, and buyer
pays freight costs.

Seller places goods Free On

Board to the buyer’s place of
business, and seller pays
freight costs.

Freight costs incurred by the seller are an operating expense.

5-‹#›
LO 2
 Lain / gia
tang gia'tri nun
hang.
via

Freight costs incur by the buyer – FOB shipping point

Illustration: Upon delivery of the goods on May 6, Sauk Stereo (the

buyer) pays Acme Freight Company €150 for freight charges, the
entry on Sauk Stereo’s books is:

May 6
615/Inventory (New I was
5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.
 Freight costs incur by the seller – FOB Destination

In contrast, if the freight terms on the invoice had required PW Audio

Supply (the seller) to pay the freight charges, the entry by PW
Audio Supply would have been:

May 4

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

Recording Purchases of Merchandise – Purchase
Returns & Allowances
Ktrahang bi lii, hong return
Hang to give to who h ban, to ban to who knack discount?.
-

->

Purchase Returns and Allowances

Purchaser may be dissatisfied because goods are damaged or
defective, of inferior quality, or do not meet specifications.

Purchase Return Purchase Allowance

Return goods for credit if the
sale was made on credit, or
for a cash refund if the
purchase was for cash.
May choose to keep the
merchandise if the seller will
grant an allowance
(deduction) from the purchase
price.

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

 Mua hang to, tra lain ignore lac
Recording Purchases of Merchandise

Illustration: Assume that on May 8 Sauk Stereo returned to

PW Audio Supply goods costing €300.

/Account / I
May 8
pagein
soo

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

 Recording Purchases of Merchandise –
Purchase discounts

Purchase Discounts
Credit terms may permit buyer to claim a cash discount for
prompt payment.

Advantages: Example: Credit

terms may read 2/10,
● Purchaser saves money. n/30.

● Seller shortens the operating cycle.

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

 Recording Purchases of Merchandise –
Purchase discounts

Purchase Discounts

of month
end

2/10, n/30 1/10 EOM n/10 EOM

2% discount if 1% discount if Net amount due

paid within 10 paid within first 10 within the first 10
days, otherwise days of next days of the next
net amount due month. month.
within 30 days. tra () 10
gay air
tier cia
thing
saw- Hiring 1% CK thang way mua hang, deadline m10

neir tra () 10 12% chief thang saw phaitratien

Khan
wgay
(hi ngay
na hany
bat burcphaitra trong 30
ngay

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

 Recording Purchases of Merchandise –
Purchase discounts

Illustration: Assume Sauk Stereo pays the balance due of

€3,500 (gross invoice price of €3,800 less purchase returns
and allowances of €300) on May 14, the last day of the
discount period. Prepare the journal entry Sauk Stereo
makes to record its May 14 payment.
4 14105: 2%cK
Wagay:
-

I mentory /**
May 14
to

195001200/13,40 0

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

 Recording Purchases of Merchandise –
Purchase discounts

Illustration: If Sauk Stereo failed to take the discount, and

instead made full payment of €3,500 on June 3, the journal
entry would be:

June 3

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

 Recording Purchases of Merchandise

Summary of Purchasing Transactions

Inventory
Debit Credit

4th - Purchase €3,800 €300 8th - Return

6th – Freight-in 150 70 14th - Discount

Balance €3,580

5-‹#› LO 2 Explain the recording of purchases under a perpetual inventory system.

 Recording Sales of Merchandise

● Made using cash or credit (on account).

Illustration 5-6

● Normally recorded when

earned, usually when
goods transfer from seller
to buyer.

● Sales invoice should

support each credit sale.

LO 3 Explain the recording of sales revenues

5-‹#›
under a perpetual inventory system.
 Recording Sales of Merchandise
gia'
Not ban la bi

~ & chener tech?

Journal Entries to Record a Sale- Not giamua aw tohang

ban

#1 Cash or Accounts receivable XXX Selling

Sales revenue XXX Price

#2 Cost of goods sold XXX

Cost
Inventory XXX

LO 3 Explain the recording of sales revenues

5-‹#›
under a perpetual inventory system.
 Recording Sales of Merchandise – Credit sales

Illustration: Assume PW Audio Supply records its May 4

sale of €3,800 to Sauk Stereo on account as follows.
Assume the merchandise cost PW Audio Supply €2,400.
Thiring to tien ngay
what

/Baupor 1/3,500
May 4

May 4 COGS
now

Dentory
FOB destination:

5-‹#› /Deliveryexpense) in
LO 3 Explain the recording of sales revenues
under a perpetual inventory system.
 Recording Sales of Merchandise

Sales Returns and Allowances

● “Flipside” of purchase returns and allowances.

● Contra-revenue account (debit).

● Sales not reduced (debited) because:

► Would obscure importance of sales returns and

allowances as a percentage of sales.

► Could distort comparisons.

LO 3 Explain the recording of sales revenues

5-‹#›
under a perpetual inventory system.
 Recording Sales of Merchandise – Sales Return

Illustration: Prepare the entry PW Audio Supply would make

to record the credit for returned goods that had a €300
selling price (assume a €140 cost). Assume the goods were
not defective. COES:cost
of good sold
Loading…

pawietunstm too
May 8

May 8

LO 3 Explain the recording of sales revenues

5-‹#›
under a perpetual inventory system.
Recording Sales of Merchandise – Sales returns

Illustration: Assume the returned goods were defective

and had a scrap value of €50, PW Audio would make the
following entries:

May 8

May 8

LO 3 Explain the recording of sales revenues

5-‹#›
under a perpetual inventory system.
 Recording Sales of Merchandise

Sales Discount
● Offered to customers to promote prompt payment.

● “Flipside” of purchase discount.

● Contra-revenue account (debit).

LO 3 Explain the recording of sales revenues

5-‹#›
under a perpetual inventory system.
Recording Sales of Merchandise – Sales discount

Illustration: Assume Sauk Stereo pays the balance due of

€3,500 (gross invoice price of €3,800 less purchase returns
and allowances of €300) on May 14, the last day of the
discount period. Prepare the journal entry PW Audio Supply
makes to record the receipt on May 14.

of
lIastd,iscount ener
May 14

LO 3 Explain the recording of sales revenues

5-‹#›
under a perpetual inventory system.
 Completing the Accounting Cycle

Adjusting Entries
● Generally the same as a service company.

● One additional adjustment to make the records agree

with the actual inventory on hand.

● Involves adjusting Inventory and Cost of Goods

Sold.

5-‹#› LO 4 Explain the steps in the accounting cycle for a merchandising company.
 Completing the Accounting Cycle

Illustration: PW Audio Supply has an unadjusted balance of

€40,500 in Inventory. Through a physical count, PW Audio
determines that its actual inventory at year-end is €40,000. The
company would make an adjusting entry as follows.

5-‹#› LO 4 Explain the steps in the accounting cycle for a merchandising company.
 Completing the Accounting Cycle

Closing Entries
● Generally the same as a service company.

● Close to Income Summary all accounts that affect net

income

● After closing, all temporary accounts have zero balances

● Retained Earnings has a balance that is carried over to

the next period

5-‹#› LO 4 Explain the steps in the accounting cycle for a merchandising company.
 Forms of Financial Statements

Income Statement
● Primary source of information for evaluating a company’s
performance.

● Format is designed to differentiate between the various

sources of income and expense.

5-‹#› LO 5 Prepare an income statement for a merchandiser.

 Forms of Financial Statements

Income
Statement
Presentation
of Sales

Illustration 5-14
5-‹#›
 Chapter 7
TRAINING
EMPLOYEES

©McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education.
 What Do I Need to Know? 1
L O 7-1 Discuss how to link training programs to
organizational needs.
L O 7-2 Explain how to assess the need for training.
L O 7-3 Explain how to assess employees’ readiness
for training.
L O 7-4 Describe how to plan an effective training
program.
©McG
What Do I Need to Know? 2
L O 7-5 Compare widely used training methods.
L O 7-6 Summarize how to implement a successful
training program.
L O 7-7 Evaluate the success of a training program.
L O 7-8
Loading…
Describe training methods for employee
orientation and onboarding and for diversity
management.
©McG
Introduction

Training
• Acquiring job-related knowledge, skills, abilities, and
behaviors
• Programs range from formal classes to one-on-one
mentoring
• On the job or at remote locations
• Should be linked to organizational needs and motivate
employees
©McG
Training Linked to Organizational Needs 1

Importance of Training
• More important than ever due to nature of modern
business environment
• Change requires employees to learn new skills continually
Loading…
• Growing reliance on teamwork creates demand for ability
to solve problems in teams and often requires training
©McG
Training Linked to Organizational Needs 2

Instructional Design
A process of systematically • Effective program teaches
developing training to meet skills and behaviors that
specified needs help organization achieve
goals
• HR professionals
approach training through
instructional design
©McG
Figure 7.1 Stages of
Instructional
Design

Jump to long description in appendix.

©McG
Training Linked to Organizational Needs 3

Learning Management System (LMS)

• Computer application that automates the administration,
development, and delivery of training programs
• LMS makes design process more efficient and effective
• The LMS can make training programs more widely
available and help companies reduce travel and other costs
by providing online training.
• Can link to performance management system to plan and
manage training needs, outcomes, and associated rewards
©McG
Needs Assessment 1

Needs assessment
• Evaluating the organization, individual employees, and
tasks to determine what kinds of training, if any, are
necessary
• These decisions do not necessarily include a training
program, because some issues should be resolved through
methods other than training
• Answers three questions:
1. Organization: what is the context in which training will occur?
2. Person: who needs training?
3. Task: What subjects should training cover?
©McG
Needs Assessment 3

Organization Analysis
• Process for determining appropriateness of training by
evaluating characteristics of the organization
• It looks at training needs in light of:
• The organization’s strategy – growing its personnel?
Customer base: narrow market segment or broad customer
base? And other strategic scenarios
• Resources available for training - budget, time, and expertise
for training? organization is willing to support the investment
in training
• Management’s support for training activities
©McG
Needs Assessment 2

©
N
aj

Loading…
la
h
F
ea
n
n
y/
G
et
ty

Pfizer employees go through a representative training phase that teaches them

m
I

about different Pfizer products and how to market them. Success at a drug
a
g
company such as Pfizer depends on the frequent introduction of new
es

medicines and the expertise of sales representatives who tell health care
professionals about those products.
©McG
Needs Assessment 4

Person Analysis
• Process of determining individuals’ needs and readiness
for training by answering three questions:
1. Do performance deficiencies result from a lack of knowledge,
skill, or ability? Or it’s attitudes, motivation, organization’s
input
2. Who needs training?
3. Are the employees ready for training? Are they willing and
able to learn?
©McG
Needs Assessment 5

Task Analysis
• The process of identifying and analyzing tasks to be
trained for - what is the content of training course.
• Conditions in which tasks are performed should be
considered:
• Job’s equipment and environment
• Time constraints, e.g deadlines
• Safety considerations
• Performance standards

• Those information will be the basis for determining which

tasks will be focused on training.
©McG
An examination of causes of performance
deficiencies in a group or individual is called
_____ analysis.
A. organizational
B. task
POLLING
C. person
QUESTION
D. needs
©McG
Readiness for Training
Readiness for Training
• Combination of employee characteristics and positive
work environment that permits training
• Necessary employee characteristics: ability to learn,
favorable attitudes toward training, motivation
• Work environment
• Situational constraints
• Social support
©McG
Table 7.1 What Managers Should Do to Support Training
Understand the content of the training.
Know how training relates to what you need employees to do.
In performance appraisals, evaluate employees on how they apply training to
their jobs.
Support employees’ use of training when they return to work.
Ensure that employees have the equipment and technology needed to use
training.
Prior to training, discuss with employees how they plan to use training.
Recognize newly trained employees who use training content.
Give employees release time from their work to attend training.
Explain to employees why they have been asked to attend training.
Give employees feedback related to skills or behavior they are trying to
develop.
If possible, be a trainer.
©McG
Planning the Training Program 1

Begins with establishing objectives for the training

program and deciding:
1. Who will provide the training
2. What topics the training will cover
3. What training methods to use
4. How to evaluate the training
©McG
Planning the Training Program 2

Training objectives include a statement of:

1. Expectations of what employee could do
2. Quality or level of acceptable performance
3. Conditions under which the employee is to apply what
he or she learned
4. Measurable performance standards
5. Resources needed to carry out desired performance
outcome
©McG
Planning the Training Program 3
In-House or Contracted Out?
• Organizations can provide an effective training program
even if they lack expertise in training
• Many organizations use outside experts
• Request for proposal (RFP)

• Training administration is done by an HR professional

©McG
Table 7.2 Categories of Training Methods
Method Techniques Applications
Presentation methods: Lectures, workbooks, Conveying facts or
trainees receive information video clips, podcasts, comparing alternatives.
provided by others. websites.
Hands-on-methods: trainees On-the-job training, Teaching specific skills;
are actively involved in simulations, role-plays, showing how skills are
trying out skills. computer games. related to job or how to
handle interpersonal
issues.
Group-building methods: Group discussions, Establishing teams or
trainees share ideas and experiential programs, work groups; managing
experiences, build group team training. performance of teams or
identities, learn about work groups.
interpersonal relationships
and the group.
©McG
Figure 7.2 Use of Instructional Methods

Jump to long description in appendix.

Source: “2017 Training Industry Report,” Training, November/December 2017, pp. 20–33.
©McG
Training Methods 1

Classroom Instruction
• Usually a trainer lecturing group
• Distance Learning
• Trainees at different locations
• Videoconferencing, email, instant messaging, document-sharing
software, web cameras
• Interaction between trainer and audience may be limited
©McG
Training Methods 2
Computer-based Training
• E-Learning
• Electronic performance support systems (EPSS)
On-the-Job Training
• Person with job experience and skill guides trainees
• Apprenticeships – skilled trades
• Internships – learn for being professionals
©McG
Table 7.3 Typical Jobs for Apprentices and Interns

Apprenticeship Internship
Bricklayer Accountant
Carpenter Doctor
Electrician Journalist
Plumber Lawyer
Nursing assistant Nurse
Welder blank
©McG
Training Methods 3

Simulations Business Games

• Represent real-life situations in • Trainees gather and analyze
which trainees make decisions information and make
resulting in outcomes that mirror decisions that influence the
what would occur on the job outcome
• Avatars
Case Studies
• Virtual reality
• Detailed descriptions of a
situation that trainees study
and discuss
©McG
Training Methods 4
Behavior Modeling
• An effective way to teach interpersonal skills with role-playing
and feedback, participants observe other people demonstrating
the desired behavior, then have opportunities to practice the
behavior themselves.
Experiential Programs
• Learning concepts and applying them by simulating
behaviors involved and analyzing activity
• Connecting analysis with real-life situations
• Adventure learning - A teamwork and leadership training
program based on the use of challenging, structured outdoor
activities
©McG
Teamwork

©David Pu’u/Getty Images

One of the most important features of organizations today is teamwork.

Experiential programs include team-building exercises like wall climbing and
rafting to help build trust and cooperation among employees.
©McG
Training Methods 5

Team Training
• Individuals work together to achieve a common goal
• Cross-Training Team training in which team members
understand and practice each other’s skills so that they are
prepared to step in and take another member’s place.
• Coordination Training Team training that teaches the
team how to share information and make decisions to
obtain the best team performance.
• Team Leader Training Training in the skills necessary for
effectively leading the organization’s teams.
©McG
Training Methods 5

Action Learning
• Teams get actual problem
• Work on solving problem
• Loading…
Commit to action plan
• Responsible for carrying out plan
©McG
Implementing the Training Program 1

Principles of Learning
• Employees learn best when training links to current tasks
• Employees need chance to demonstrate and practice what
they have learned
• Trainees need to understand whether or not they are
succeeding
• Well-designed training helps people remember content
• Written materials should have an appropriate reading level
©McG
Table 7.4 Ways That Training Helps Employees Learn 1

Training Activity Ways to Provide Training Activity

Communicate the Demonstrate the performance to be expected.
learning objective. Give examples of questions to be answered.
Use distinctive, Emphasize key points.
attention-getting Use pictures, not just words.
messages.
Limit the content of Group lengthy material into chunks.
training. Provide a visual image of the course material.
Provide opportunities to repeat and practice material.
Guide trainees as they Use words as reminders about sequence of activities.
learn Use words and pictures to relate concepts to one
another and to their context.
Prompt trainees to evaluate whether they understand
and are using effective tactics to learn the material.

Sources: Adapted from R. M. Gagne, “Learning Processes and Instruction,” Training Research Journal 1 (1995/96), pp. 17–28; and Traci Sitzmann,
“Self-Regulating Online Course Engagement,” T&D, March 2010, https://www.td.org.
©McG
Table 7.4 Ways That Training Helps Employees Learn 2

Training Activity Ways to Provide Training Activity

Elaborate on the Present the material in different contexts and settings.
subject Relate new ideas to previously learned concepts.
Practice in a variety of contexts and settings.
Provide memory cues Suggest memory aids.
Use familiar sounds or rhymes as memory cues.
Transfer course content Design the learning environment so that it has elements
to the workplace. in in common with the workplace.
Require learners to develop action plans that apply
training content to their jobs.
Use words that link the course to the workplace.
Provide feedback about Tell trainees how accurately and quickly they are
performance. performing their new skill.
Show how trainees have met the objectives of the
training.
©McG
Implementing the Training Program 2
Transfer of Training
• On-the-job use of knowledge, skills, and behaviors learned
in training
• Implementation strengthened by social support
• Communities of practice - Groups of employees who work
together, learn from each other, and develop a common
understanding of how to get work accomplished.
©McG
Measuring the Results of Training 1

Evaluation Methods
• To evaluate whether conditions are in place for transfer of
training, the organization can ask employees three
questions about specific training-related tasks
1. Do you perform the task?
2. How many times do you perform the task?
3. To what extend do you perform difficult and challenge learned
tasks?
©McG
Measuring the Results of Training 2

Training Outcomes – what has changed as a result of

the training.
• Information such as facts, techniques, and procedures that
trainees can recall after training
• Skills that trainees can demonstrate in tests or on the job
• Trainee and supervisor satisfaction with training program
• Changes in attitude related to training content
• Improvements in individual, group, or company
performance
©McG
Measuring the Results of Training 3
Applying the Evaluation
• Helps with future decisions about the organization’s
training programs
• Organization may identify a need to modify the training
and gain information about the kinds of changes needed.
©McG
Figure 7.3 Measures of Training Success

Jump to long description in appendix.

©McG
Applications of Training 1

Onboarding
• Ongoing process that aims to prepare new employees
for full participation
• Conscious attempt to get new hires to identify and
connect with employer
©McG
Applications of Training 1

Orientation
• Training designed to prepare new employees to:
• Perform their jobs effectively
• Learn about organization
• Establish work relationships

• Objective is to familiarize new employees with rules,

policies, and procedures
©McG
Applications of Training 2

Diversity Training
• Designed to change employee attitudes about diversity
• Needs to respect and value diversity of employees
• Programs may focus on:
• Behavior changes
• Constructive ways to handle communication barriers, conflicts, and
misunderstandings
• Cultural immersion
©McG
Have you ever participated in a diversity
training course? If so, did you find it
valuable?
A. Yes, and it was very useful.
B. Yes, but it covered information I already knew,

POLLING
C. No, but I think it would be enlightening,
D. No, and I don’t think it would be very useful.
QUESTION
©McG

Appendix of Image Long

Descriptions
 Appendix to Figure 7.1 Stages of Instructional
Design
1. Assess needs for training
2. Ensure readiness for training
3. Plan training program: objectives, trainers, methods
4. Implement training program: principles of learning,
transfer of training
5. Evaluate results of training.
All of these stages can be influenced by feedback.

Return to original slide

©McG
Appendix to Figure 7.2 Use of Instructional Methods

Instructor-led classroom 45 percent.

Blended (combination of methods) 35 percent.
Online or computer-based 30 percent.
Virtual classroom or webcast 15 percent.
Mobile only 3 percent.

Return to original slide

©McG
Appendix to Figure 7.3 Measures of Training
Success
Trainee satisfaction
Return on investment
Transfer of training
Performance improvements
New skills, knowledge

Return to original slide

©McG
Appendix to Figure 7.4 Measures of Training
Success
Stage 1: Compliance
Understand company policies, rules, and regulations.
Stage 2: Clarification
Understand job and performance expectations.
Stage 3: Culture
Understand company history, traditions, values, norms, and
mission.
Stage 4: Connection
Understand and develop working and interpersonal relationships.

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 Forms of Financial Statements

Income
Statement
Key Items:
● Net sales

Illustration 5-14
5-‹#›
 Forms of Financial Statements

Income
Statement
Key Items:
● Net sales
● Gross profit

Illustration 5-14
5-‹#›
 Forms of Financial Statements

Income
Statement
Key Items:
● Net sales
● Gross profit
● Gross profit rate

Illustration 5-14
5-‹#›
 Forms of Financial Statements

Income
Statement
Key Items:
● Net sales
● Gross profit
● Operating
expenses

Illustration 5-14
5-‹#›
 Illustration 5-13
Forms of Financial Statements

Income
Statement
Key Items:
● Net sales
● Gross profit
● Operating
expenses
● Other income
and expense

Illustration 5-14
5-‹#›
 Forms of Financial Statements

Income
Statement
Key Items:
● Net sales
● Gross profit
● Operating
expenses
● Other income
and expense

Illustration 5-14
5-‹#›
 Forms of Financial Statements

Income
Statement
Key Items:
● Net sales
● Gross profit
● Operating
expenses
● Other income and
expense
● Interest expense
Illustration 5-14
5-‹#›
 Forms of Financial Statements Illustration 5-14

Income
Statement
Key Items:
● Net sales
● Gross profit
● Operating
expenses
● Other income and
expense
● Interest expense
● Net income
5-‹#›
 Forms of Financial Statements

Classified Statement of Financial Position

Illustration 5-16

5-‹#› LO 5 Prepare an income statement for a merchandiser.

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5-‹#›