Retailing And Merchandising In Textiles And Appare

Retailing and Merchandising in Textiles and Appare 3(2+1)

Lesson 14 : Functions Of Merchandising Division

Financial control

The financial control division supervises the budget. This division is headed by the controller or chief financial offer who is concerned with controlling the spending activities of all divisions. Typically the controller supervises the activities of the credit department, accounts payable, and the statistical department.
The control division works with the merchandise' division in preparing and maintaining all merchandising plans and expense budgets. The controller has the responsibility for preparing statistical reports that are used in guiding the buying and selling activities of the merchandising division and seeing that budgets are maintained.
A large store may have assistant controllers who work with the controller in carrying out the functions of the division. In a large firm the controller may report to the company treasurer.