Stock Taking Skills and Stock Valuation

Stock is a very important asset to any organization. This workshop teaches how to quantify value and document stocks of the organization.

CONTENT

Stock Counting Methods

– Periodic stock counting

– Continuous stock counting

– Cycle stock counting

Inventory Valuation Methods

– First in-first out-(FIFO

– Weighted Average

– Others

Treatment of Slow, fast and Non-Moving Stock

– Cost of Holding Inventory

– Ordering Costs

– Stock Levels

Stock Documentation

– Stock Reconciliation and Documentation

– Stock frauds

IFRS for Stock

– Costs of Purchase

– Costs of Conversion

– Techniques for Stock Measurement

FOR WHOM:

Stores, Purchasing and Logistics Personnel in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.