Inventory Verification Services
The stock is a valuable asset for any business and also probably most susceptible to pilferage, damage, expiry, wastage or fraud. The objective of stock verification is to prove the existence, accuracy, ownership rights and ensure the realizable value of the items in Company’s inventory. Accurate accounting of inventory is also essential to a robust bookkeeping system and MIS reporting.
Since the inventory has many movements on business days, the process of routine physical verification becomes a difficult task for any organization. It needs proper planning, resource mobilization, and expertise.
Our team of experts can assist you to conduct the inventory verification and give more insights into your stock along with a proper reconciliation of existing stock records.
Better internal control on inventory counting process
Most of the business organizations, typically hold the inventory verification either yearly or half-yearly, to ensure that the physical inventory is matching with book stock and the differences and obsolescence are appropriately adjusted before the year-end financial audit.
Our Inventory verification and valuations services ensure the excess/shortage of materials in stock and identify the old/damaged inventory. It helps the management to have better internal control on inventory counting process without disturbing the current workflow and reduces the wastage and losses arising due to fraud or damage.
- Physical Verification of stock
- Physical status reporting
- Stock reconciliation
- Valuation of inventory
- Assistance with inventory coding and categorization
- Inventory Accounting
- Experience in the region
- Trained, dedicated and experienced staff
- Efficient use of technology
- Timely reporting
Latest insights, case studies and news from across the network
A glimpse into UAE laws
Before you plan a visit to any country, be it for a short trip or to start a company, basic knowledge about the laws and regulations governing that place is...
Taxation in UAE
UAE is basically known to be tax-free country, and this was true to a great extent, until the introduction of Value added tax. VAT was introduced in UAE on 1st...
A guide for foreigners who aspire to set-up business in Dubai
The city of Dubai doesn’t require any special introduction as it is one of the most popular places in the world. We all know the position Dubai enjoys as a...