Why Count Your Inventory?
- Asset Tracking and Valuation
- Managing Stock Levels
- Anticipating Demand
- Shrinkage, Theft, & Loss Control
- Location Decisions
What should be Counted?
- Saleable Items
- Raw Materials
- Furniture, Fixtures, & Equipment
- Rental and/or Movable Equipment
- Cars, Trucks, Vans, Containers, etc.
Where to Perform Inventory Counts?
- Inventory Counts by Physical Areas
- Items That Are “In Transit”
- Items Held by Third Parties
When to Perform Inventory Counts?
- Cycle Counting
- Annual Physical Count
Alia Noor (FCMA, CIMA, MBA, GCC VAT Comp Dip, Oxford fintech programme, COSO Framework)
Ahmad Alagbari Chartered Accountants