I) Chalking out a programme of verification
II) Appointment of a team of verifiers. If there is annual system then a team of three persons is appointed for verification
III) The team, then, is provided with stock-taking sheets duly serialized and dated
IV) The team usually first notes down on the stock-taking sheet the details or the stock to be checked taking help from the stock ledger
V) The stock so noted is physically checked and verified and discrepancies noted down
VI)Thereafter ,the valuation is done and sent to the accounts department with necessary certificates and reports
Wincate 1 answered the question on October 12, 2017 at 13:40
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