CHAPTER ONE

INTRODUCTION

The importance of accurate stock control in an Organization cannot be over emphasized no matter how diligent the job of control (computerized or manual). Some discrepancies are bound to occur. The system is operated by people, and people sometimes make mistakes.

Every inventory item should be physically counted and checked against its balance at least once a year. This verification of the quality balance is subsequently adjusted to match the actual count, for this reason, most companies created on inventory short hand over account to cater for such discrepancies, this account is eventually close into the manufacturing overhead account. The researchers will also highlight some of the ways of conducting the stock control in one of these ways of conducting the stock control exercise.

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