Can any one say me why stock statement is prepared and how it is prepared whats the need of stock statement.
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Stock statement
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generally when cash credit facility is availed from the bank against stock then the bank asks for the stock statement generally at the end of every month
but why against stock bank gives credit and whats there to be reported in stock statement
Coz stock is ur asset.. Bank will hypothecate ur asset (stock) and after deducting appropriate margin will provide u CC limit..
And so stock statement certificate BY CA is required so as to prove that stock is actually lying at ur godown..
And so stock statement certificate BY CA is required so as to prove that stock is actually lying at ur godown..
Stock statement is required by bank because drawing power is calculated on the basis of value of stock. Since stock changing everyday therefore it is required by bank on monthly basis. You can obtain format from bank to provide details of stock. It contains particulars of stock its quantity and value. In case of small cc accounts it is required by bank on quarterly basis.
thank u alll for all ur efforts and reply....
Alexandara thank u soo much that u what actually i was in search for and hunger to understand it...All thanks to Prakash & Shagufta for their effort and time for replying this question
sory couldn't mention nikita thank you soo much for your reply and sparing the time
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