- A company’s inventory accounting can mean the difference between reporting a profit or incurring a loss.
- Performing periodic physical reviews of inventory can help identify variances between physical and book quantities, as well as evaluate internal controls on inventory movement, accounting, and safeguarding. In addition, it provides assurances to principals and owners of businesses that the inventory reflected in accounting records is not materially different from the physical quantities. This can act as a deterrent against theft, damage, and unauthorised write-offs.”
- At regular intervals, we can assist with inventory verification. The verification of inventory includes, among other things, marking physically verified stocks, identifying damaged and slow-moving or obsolete items, and more.