Stock Count
Stock count is the physical verification of the quantities and condition of items held in an inventory or warehouse of the Company. It’s important to get the inventory count right for many reasons. First, you want a reliable estimate of ending inventory so that the profits you record this year are accurate. Your cost of sales — a major expense on the income statement — is a function of the value of beginning and ending inventories.
Also variations between your physical stock and accounting records allow you to pick up on many different issues and enable you to put processes into place to ensure better stock control and management. This in turn will lead to increased profits in the future. Stock counts help company's management to:
- Uncover theft;
- Discover additional stock shrinkage issues;
- Improve your stock ordering process;
- Reveal impairment issues;
- Find flaws in your pricing strategies.
We have experience of performing stock counts in different industries including hospitality, agriculture, construction materials, FMCG, wholesale and distribution and others.
Stock Count fees are based on the volumes, number of locations and diversity of the stock items. For small and medium-sized local companies total Stock Count fees can range from 1,000 AZN to 6,500 AZN.
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