The Shifted Stock Taking Process
It is to be noted that the Stocktaking process need not be carried on by the Companies directly with respect to the balance sheet date in general. The Companies are allowed deferred admission of the stocks within a period of ten days, which is before the deadline or after the deadline in general. The evaluation with respect to the commodities take place with respect to the initial costs in general. Some of the damaged commodities are usually devalued in general. It is to be noted that the consideration with respect to the increase in the value of the stocks are not normally permitted according to the minimum value principle in general. It is to be noted that the fixed date procedure of Stock taking are actual process as at the close of a financial year in general. The shifted stock taking is another procedure of stock taking which is carried on by the Stock takers for the benefit of the company in general. This procedure of stock taking is carried on when the admission with respect to the deadline is not possible in general. For example when there is very large existence with respect to the different stocks of the company in general.
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