Customer Relations
List 3 ways of demonstrating positive customer relations?
Greeting, Assistance, Positivity, Expression, etc.
What are Securities?
Investment tools such as stocks, bonds, shares, etc.
List the main headings in an income statement?
Revenue, Expense, Net Income/Loss
When are mock regionals, hosted by DECA Ontario?
This weekend! The mock case study is on Saturday, November 7th, and the mock exam is on Sunday, November 8th
Why is it important for businesses to develop a good rapport with customers?
They will want to come back and spend their money at that business
What is Cost Allocation?
The method in which costs are assigned to a product
List 3 of the most liquid assets, in order of most liquid to least?
Cash, Accounts Receivable, Inventory or Supplies
When are regionals? (Specific date for exam and case study)
Case study is on Saturday, November 21st. The exam is on Sunday, November 22nd
What is the importance of meeting and exceeding customer expectations?
Enhances customer experience; ensures customer loyalty and builds customer base; influences customer’s decisions
What is a Financial Ratio?
Provide comparison between financial statement items to determine the strength or weakness of a company
What is GAAP? (Provide 1 example)
A set of Generally Accepted Accounting Principles used to ensure accounting records are following correct procedures
What do you have to submit for the regional case study?
An audio file only
Describe the nature of customer relationship management?
Customer relationship management (CRM) is a technology for managing all your company's relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships.
What is Risk Retention?
A strategy where an entity sets aside a sum of money as protection against loss, instead purchasing insurance
What is the role of ethics in accounting?
Ethics requires accounting professionals to comply with the laws and regulations that govern their bodies of work. Accountants must be completely honest, and list all the information they are aware of if it can impact the company’s finances in any way.
If you are participating as a team, who is responsible for submitting the case study file?
The person whose last name appears first alphabetically, and is also known as the team captain
What are some strategies / techniques that can be used to foster positive customer relations?
Communicate; exceed your customer’s expectations; ask for feedback; show appreciation
What is Commodities Exchange?
A marketplace where ownership titles or standard units of commodities are traded by members
Discuss the nature of cost accounting budgets?
A budget for ensuring cost-effectiveness by accumulating, organizing, recording, calculating, analyzing and assessing the overall expenses incurred on a product/process/project
What format must your case study submission be in?
The audio file must be in .mp3 or .m4a format