WHAT IS STOCK/INVENTORY?
Stock/Inventory forms part of the operating cycle of the business. The enterprise purchases stock from the supplier in raw material form, convert it into work in progress and finally finished goods for resale to customers.
Stock/inventory is part of the Current Asset Category of the Balance Sheet.
To define stock, it is :
Inventories encompass goods purchased and held for resale including, for example, merchandise purchased by a retailer and held for resale, or land and other property held for resale.
Inventories also encompass finished goods produced, or work in progress being produced, by the entity and include materials and supplies awaiting use in the production process.
WHY HOLD STOCK?
May 15, 2013
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May 16, 2013
- In Personnel Management,do you think that labour turnover has any advantages to an organization? List a few potential advantages
May 17, 2013
May 21, 2013
- In an organization, briefly explain the benefits or advantages and disadvantages of decentralization
May 25, 2013
- What are the advantages and disadvantages of using Stock Financing from the viewpoint of the Corporation