Physcal Stock Verification Procedure

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Sunil Kumar (Querist)
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08 April 2009 Hi Friends,
This is sunil from delhi. & can someone help me ? what is the procedure of physical Stock Verification

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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08 April 2009 Please check Query answered by me in expert section.

CA CS CIMA Prakash Somani

CA CS CIMA Prakash Somani (Expert)
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08 April 2009 Here is the link:

https://www.caclubindia.com/experts/experts_message_display.asp?group_id=160151

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CMA KNVV Sri Vidya - Sri Kanth

CMA KNVV Sri Vidya - Sri Kanth (Expert)
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08 April 2009 u should verify the stock physically with computer stock

i mean they will be maintaining stock in a system na
so take the print out

if possible do 100 % or else do random verification ( high rate values , high quantity stock lik this )

for eg u find 10 items in statement n physically u find 12 items - it means excess 2 items

u find 10 items in statement n physically u find 7 items - it means short 3 items

lik this u should conduct the stock verification