Category Management
What is P&L?
Profit and Loss
What is GL Accounting?
General Ledger
What does "employee onboarding" entail?
Onboarding is the process of incorporating a new employee into a company and familiarizing them with the company culture and policies, so they can become an effective and contributing member of the team.
What is a district manager?
District Managers are management professionals who oversee the operation of multiple stores, restaurants, branches, or locations within a particular region.
What does QSR stand for?
Quick Service Restaurant
What internal teams should a category manager collaborate with and why?
Marketing, Pricebook, Vendor Management, Client Relations
What is the difference between an accountant and a CPA?
One has a license :)
What is more important in HR, complex problem solving skills or communication skills?
Employee to defend answer.
Name two duties of a District Manager.
District Manager can have many duties, but in general, their main job is to direct and oversee all operational aspects including distribution, customer service, sales, marketing, human resources and administration in accordance with the bank's objectives
What does "Retail" refer to in industry?
Convenience store retail
What is the difference between purchasing manager and procurement manager?
Purchasing focuses on short-term goals such as fulfilling the five rights in a transaction (right quality, right quantity, right cost, right time, and right place), whereas procurement management focuses on strategic, long-term goals like gaining a competitive advantage or aligning itself with corporate strategy
What does GAAP stand for?
Generally Accepted Accounting Principles
What are HR managers/directors duties in the area of compensation?
Ensure that payroll complies with state laws and federal regulations. Oversee pay distribution to employees. Work with managers to develop employee promotion and retention strategies. Oversee compensation and payroll support teams.
Who do district managers report to?
The retail head office (different titles for each company).
Regional Managers or Regional Directors
What is the industry standard of convenience retail and petroleum wholesale accounting/finance software?
PDI.
What are one of the four goals of purchasing?
What does it mean to "close the books?"
Closing your books means returning the balance of your temporary accounts back to zero. To do this, you need to make journal entries to transfer the balance, known as closing journal entries. These are made at the end of the accounting period, typically monthly, quarterly, and annually.
What role does HR play in training?
The role of HR in training and development is to assist employees in reaching their highest potential. This vital role can be fulfilled through the following functions: Employee guidance and mentorship. Monitoring employee performance.
Who reports to District Managers?
Store managers.
What does CPG stand for?
Consumer Packaged Goods
Is a merchandiser the same as a buyer?
A retail buyer focuses on product. They research fashion trends and are responsible for selecting the products that appear in store or online. Retail merchandisers ensure commercial and financial viability of the product.
What is excise tax?
Excise taxes are imposed on various goods, services and activities. Depending on the excise tax, the manufacturer, retailer or consumer may be liable.
Recruitment, Retention and Motivation
Who is responsible for the gum stuck in the parking lot at a location?
Store Manager
What is the name of the largest convenience store chain in the United States? (Spell it.)
7-Eleven