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Physical stock verification.

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(Querist)
12 January 2015 Sir I want to know the purpose of physical stock audit. Means sir we do physical verification only for closing stock valuation...or there are any other objectives to do physical verification
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Kumar

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Kumar (Expert)
15 January 2015 Yes for closing stock existence and valuation. Also for cut off procedures. As an ancillary, you might also come to know of certain consumption of materials not accounted for.
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DHIREN

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DHIREN (Querist)
27 January 2015 WHILE we do physical verification of closing stock it is difficult to check each and every items , so can u sir plz instance me which items should be checked.
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