periodic stocktaking

= periodic inventory
The counting or evaluating of the stock held by an organization at the end of an accounting period. Movement of stock is restricted during the period of stocktaking

Accounting dictionary. 2014.

Look at other dictionaries:

  • periodic inventory — periodic stocktaking …   Accounting dictionary

  • physical stocktaking — Fin the ascertainment of stocks held (by counting physical objects) for comparison with accounting records. Modern practice is to stocktake different items with different frequencies, classifying items according to the degree of control required …   The ultimate business dictionary

  • perpetual inventory — PI A system of inventory control that regularly updates inventory quantities. A PI system may be *real time, or there may be a slight delay between inventory movements and the updating of inventory balances. Auditors often place reliance on PI… …   Auditor's dictionary

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