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Taking Inventory

Listing company property and checking accounting data

Business entities possess certain assets located in an office, a warehouse, or a subdivision. Information on everything that a company has at disposal is recorded in a balance sheet. In order to ensure that this information lines up with reality, inventory should be taken. This concerns buildings, intangible assets, materials and other properties.


Taking inventory allows:

• to confirm the existence of the assets listed in the balance sheet;
• to identify tangible assets that have lost their value;
• to check compliance with the storage conditions;
• to identify surpluses and shortages of assets by checking actual availability with the volumes listed in the balance sheet;
• to evaluate completeness and correctness of assets value accountability.


Corporate senior management decide when inventory should be taken, as well as whether it should be carried out with their own resources or with the assistance of outside experts. In the latter case, the costs of taking inventory services will be compensated by quality, efficiency and absence of errors. It is complicated to find experts with good knowledge of the taking inventory process and its nuances, who can carry out the task impartially.

Objective and qualified services for taking inventory are available at FINCOM group.

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