The products in question are those that help You in Your work on the long term, e.g. furniture, devices, tools, vehicles, or anything that facilitate Your everyday and one-of-a-kind activities. Fixed assets stocktaking is the counting of these objects.

What is stocktaking?

What is stocktaking?

The definition of stocktaking by accounting literature and practice is

A statement so detailed as to reveal the quantity and value of assets liabilities of a company on a given date.

Excess inventory and discrepancies not seen in the records (e.g. theft, negligent managing) can be revealed by stocktaking. It can be confirmed if there is a difference between the actual physical stock and the one by the books and accounts.

 

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