Stock statement submitted to bank

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piyush kr. singh (Querist)
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14 July 2016 COULD ANYONE ASK ME IN THIS ASPECT THAT WHETHER STOCK STATEMENT SUBMITTED TO BANK ON QUARTLY BASIS IS PROVISIONAL OR ABSOLUTE? wHETHER WE CAN CHANGE IT AT END OF THE YEAR WHILE FINALISING BOOKS OF ACCOUNTS. IF SO, WHAT IS THE POSSIBLE DIMENTION OF VARIATION.?

Thanks in advance

MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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15 July 2016 I think you are asking a query. Stock statement submitted quarterly to a bank can only be provisional. Because,certain sales can be returned,both the ways.Events such as theft,fire,write-off due to some goods becoming obsolete etc can happen. After the final audit it can be ascertained whether it is absolute or not.........mjk