Store Management Waec Syllabus

Introduction to Store Management

1. Store Management
   • Meaning of store management;
   • Importance of store management;
   • Functions of a store manager;
   • Characteristics of a store manager;
   • Customer services:
     • pre-sale services
     • after-sale services
2. Functions of Management
   • Planning;
   • Organization;
   • Leading;
   • Staffing;
   • Controlling.
3. Factors to be considered in establishing a Store
   • Market
   • Finance
   • types of stock
   • transport
   • accessibility
   • security
   • government regulation
   • personnel.

Concepts of retailing and wholesaling

1. Retailing
   • Definition
   • Functions of a retailer
2. Wholesaling
   • Definition;
   • Functions of a wholesaler
3. Warehousing
   1. The meaning of warehousing
   2. types of warehousing;
   3. the importance of warehousing
4. Transportation
   • definition;
   • means of transportation;
   • advantages and disadvantages of each means of transportation;
   • factors that will determine the choice of transport

Stock Control

1. Introduction to Stock Control
   • Meaning of stock control;
   • Importance of stock control;
   • Types of stock records-Stock list, Bin card/ Store Card, Store requisition form and Delivery notes
2. Methods of Stock Control
   • Manual method;
     • Periodic, perpetual, and annual stocktaking.
   • Computerized method;
   • Levels of stock control;
     • maximum level.
     • minimum level.
     • reorder level.
   • Issuing of stock:
     • FIFO and LIF
3. Pricing
   • Definition of pricing
   • Types of pricing:
     • skimming
     • mark-up
     • mark-down
     • penetration
     • below or above mark pricing

Organizational policy

1. Organizational Policy
   • Definition
   • Employment policy
   • Decision;
     • customer services
     • public relations
2. Organizational Standards
   • Definition of standards;
   • Productivity standards;
   • Standard for customer satisfaction
3. Organizational Culture
   • Definition of culture;
   • Explanation of organizational culture;
     • attitude to customers
     • relationship with co-workers
     • relationship with the Boss
     • dress code

Business Communication

1. Overview of Communication
   • Definition of communication;
   • Types of communication;
     • oral, written and non-verbal.
   • (iii) Business documents;
     • letters, memos, reports and circulars
2. Electronic Communication
   • Definition of communication;
   • Means of communication
     • fax, telephone, email, radio messages.
   • Word Processing – Using a computer to write business letters

Business Law

1. Overview of Basic Business Law
   • definition
2. Law of contract
   • elements of a contract.
   • Rights and obligations of employer and employee
3. Agency
   • Definition
   • Types of agents
   • Creation of agency
   • Rights and obligations of principals and agents
4. Sale of Goods Act
   • Contract of sale
   • Formalities of sale
5. Government Regulation of Business:
   • Meaning and uses of :
     • Patent right;
     • Copyright;
     • Trademark.
   • Health and Safety at Work Act.
   • Consumer Protection agency
   • License
6. Government Regulatory Agencies
   • NAFDAC, NDLEA, SON

Record Keeping

1. Documentation
   • Definition of filing and indexing
   • Rules of filing
   • Filing and indexing method
2. Source document
   • Meaning;
   • Types.
     • Invoices, receipts, cheques, vouchers
3. Trade Documents
   • Documents used in foreign trade;
     • Bills of Lading, Certificates of Origin, Consular invoice, Insurance certificate, inspection certificates, Bills of
     • Exchange, Indent, Letters of Credit, Proforma invoice
   • Documents used in the home trade.
     • Order, Enquiry, Waybill, Consignment note, Manifest, invoice, proforma invoice Receipts, Credit and Debit note, Vouchers

Book Keeping

1. Subsidiary Books
   • Meaning, Types, Uses, Purchase and Sales day book, Returns outwards/inwards books, Cash books
2. Imprest System
   • Definition and description of the imprest system;
   • Preparation of petty cash book
3. Final Accounts
   • Definition and purpose;
   • Simple Trading, Profit and Loss Account and Balance sheet
4. Sales / Turnover
   • Meaning;
   • Calculation of rate of sales turnover

Risk Management Risk Management

1. • Definition;
   • Methods of risk management.
     • Sound management practices
     • Reduction of risks – optimum stock level
     • Hedging
     • Risk transfer through insurance

Handling Finances of the Store 10.1 Investments

1. Investments
   • Meaning
   • Capital Investment:
     • Meaning
     • investment in the capital market;
     • functions of the Stock Exchange;
     • advantages of shareholding.
   • Money market instruments:
     • Meaning
     • treasury bill;
     • commercial papers;
     • bonds
2. Taxation
   • Meaning of tax;
   • Importance of tax;
   • Types of tax.
     • Income tax, Import duties, excise duties, VAT