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Outline the procedure of stores verification.

      

Outline the procedure of stores verification.

  

Answers


Winnie
I) Chalking out a programme of verification

II) Appointment of a team of verifiers. If there is annual system then a team of three persons is appointed for verification

III) The team, then, is provided with stock-taking sheets duly serialized and dated

IV) The team usually first notes down on the stock-taking sheet the details or the stock to be checked taking help from the stock ledger

V) The stock so noted is physically checked and verified and discrepancies noted down

VI)Thereafter ,the valuation is done and sent to the accounts department with necessary certificates and reports

Wincate 1 answered the question on October 12, 2017 at 13:40


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