Sales: Sales: Support: Support:
Academic writing services  
 
Custom written essay Book report Research paper Dissertation Resume and CV Editing and proofreading  
main menu
discounts
discounts
By ordering custom paper you get
  • 24/7 Support
  • Over 100 professional US Writers
  • 300 words per page
  • Flexible discount system
  • FREE revision (within 2 days)
  • Anti-Plagiarism Software Check
we accept
sample essays
Accounting Essays
Admission Essays
Analysis Essays
Art Essays
Biography Essays
Biology Essays
Book Review Essays
Business Essays
Case Studies Essays
Cause and Effect Essays
Character Analysis Essays
Communication Essays
Communication and Media Essays
Compute Technologies Essays
Consideration Essays
Controversial Essays
Description Essays
Economics Essays
Education Essays
Evaluation Essays
Explanation Essays
History Essays
Job Essays
Law Essays
Management Essays
Medicine Essays
Music Essays
Personal Essays
Personal Experience Essays
Persuasive Essays
Persuasive Speech Essays
Philosophy Essays
Political science Essays
Politics Essays
Proposal Essays
Psychology Essays
Reflective Essays
Religion Essays
Research Essays
Response Essays
School Essays
Science Essays
Sociology Essays
Technology Essays
World Literature Essays
Controls over Inventory essay
 
← Accounting Profession and the Subprime Mortgage CrisisMarginal Costing →

Controls over Inventory. Custom Controls over Inventory Essay Writing Service || Controls over Inventory Essay samples, help

Control of inventory typically represents 90 percent of all expenses incurred by a company (Bragg, 2005). Therefore, companies should ensure that they put in place the correct controls regarding inventory management. Proper controls are needed so as to ensure that the company prevents pilferage of goods and avoid stock-outs. It is also important for companies to ensure they have quality goods that meet the company’s standards as well as proper accounting practices to ensure proper to record the inventory. A company that does not have proper controls over inventory end up incurring many costs such as holding costs, carrying costs and excessive material purchases cost (Bragg, 2005). Hence, it is fundamental for a company to ensure it has the right controls in place over inventory.

The following procedures should be conducted every time the company receives stock from their suppliers. There should be an appropriate inventory system already put in place. The system ensures that all the stock purchases are recorded. It also updates the stock balances automatically in the ledgers. All stock purchases should be serially numbered and recorded so as to distinguish between the current stock and the new stock (Bragg, 2005). All stock purchases should be accompanied by a goods received note (GRN) that is used by an independent person to update the stock records with the receipts. In addition, all issues of stock from the supplier to the warehouse should be authorized by a senior person and the stock movement up dated in the inventory system.

The company should have adequate documentation of all stocks returned back to the store or warehouse. The stock records should be updated with such returns. A stock count is supposed to be conducted on a monthly basis. The physical stock counted should be reconciled to the expected stock as per the inventory system (Bragg, 2005). Also, installation of closed circuit TV cameras helps to deter and detect shop lifting. Other security measures include restriction to entry of unauthorized persons into the warehouse where inventory is usually kept.

Putting security measures in place such as such inspection locks among others helps to ensure that employees do not carry stolen items when leaving the premises. Stocks write offs should be authorized by a senior responsible official. Therefore, when the controls are in place, a company will enjoy low operational and holding costs. Furthermore, a company that has good controls is less likely to be affected by stock-outs. This is because the company is able to monitor its re-order level.

Controls over Inventory. Custom Controls over Inventory Essay Writing Service || Controls over Inventory Essay samples, help

Order Now
Order nowhesitating

Related essays

  1. Marginal Costing
  2. Managing Internal Cost & Controlling Finances
  3. Accounting Profession and the Subprime Mortgage Crisis
  4. Internal Control


order now

 
 
3.6K
1.2K
Order now
Email
Password
 
why choose us
96% of satisfied returning customers
24/7 customer support
A wide range of services
Up-to-date sources
100% privacy guaranteed
MA/PhD writers
Custom written papers only
Free plagiarism report
Free revision (within 2 days)
Free extras by your request
Direct communication with a writer
faq
Are your writers qualified for the custom writing?
How quick can my order be accomplished?
Is it legal to buy custom essays, term papers or book reports from your company?
Are essays offered by your company truly custom-written?
Is it safe to buy from SupremeEssays.com?
How secure is the payment system of your company?
Can I submit custom essays or term papers done by your company as my own?
How can I contact your company if I've got problems with my ordered paper?
testimonials

Finally, I've found the real custom writing service . My grades are saying "Thank you, it's been a pleasure to work with you."

Jamal, South Africa

I can't believe you finished my essay under such a short deadline! You saved me from a disaster once again. You guys deliver exactly what you promise. I'll be back. That's for sure!

William H , Kansas, US

contact us
Toll free for US & Canada only. International callers are charged for outgoing calls.

Our phone numbers:
SupremeEssays.com provides custom term paper writing/rewriting services inclusive of research material for assistance purposes only. The term papers should be used with proper reference and are not meant to replace actual assignments.
 

Get 15% off your first custom essay order

Order now

PRICES
from $12.99/PAGE

X