Macys Cost Accounting Lesson
Master Macy's Cost Accounting Quiz
Test your knowledge of Macy's innovative shift from retail accounting to cost accounting. This quiz covers key concepts, terminology, and benefits associated with this important transition in the retail industry.
Join us to see how well you understand the nuances of cost accounting at Macy's!
- 10 engaging questions
- Multiple choice and checkbox formats
- Learn while you play!
What kind of accounting is Macy's ditching?
Department Accounting
Retail Accounting
Financial Accounting
Management Accounting
Which of the following are nuances of Retail Accounting? (select all that apply)
Damaged items are not accounted for
It takes longer to reconcile than with ccost accounting
Inventory isn't valued precisely
Lost items are not accounted for
The retail industry is trending towards cost accounting
True
False
Which of the following are benefits of cost accounting? (select all that apply)
Item & vendor profitability and transparency
Its customer-centric
Retail sales are seen differently
Management has less responsibility
It has a healthier buying approach
POS + PERMS (in retail accounting) = _________ in cost accounting
Discount %
Markup
OTB
Sales
Perms reduce inventory in cost accounting
True
False
A price bucket is _________
A price point range for Macy's customers sas a result of cost accounting
A clearance bin at Macy's Backstage
A calculation used for finding a break-even price
A classification of a markdown planners use in cost accounting
What was the MAIN theme from cost accounting that you'll see affect other projects at the Macy's Account?
OTB
Sales and Discounts
Margin and Inventory Visibility
Reporting & Book Close
What does CDT stand for, in cost accounting?
Cross-Divisional Transfer
Customer Data Testing
Credit/Debit/Tap
Cost-Driving Transaction
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