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Effective Management of Stock and Store Course

By: Francis Consulting

Abuja FCT, Nigeria

08 - 11 Aug, 2022  4 days

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NGN 235,500


Participants will be will exposed to the best method of managing stock Accounts as well as proper stock taking/ documentation which will be exhaustively discussed. Your staff member needs to benefit from this important workshop

Stock Fraud Management

  • Types and causes of stock fraud
  • Fraudulent shortage and supplies
  • Internal control issues
  • Fraud-free management of reformed and used spares
  • Falsification of stores and supplies documents
  • The internal audit functions
  • Emerging trends and future challenges

Stock Accounting Documentation And Reconciliation

  • Stock Accounting System
  • Various accounting packages and available stock accounting modules
  • Periodic and continuous stock taking procedures and documentation
  • Stock reconciliation methods procedures and documentation
  • Identification and management of fast, slow moving, and obsolete stock

Stock Valuation And Accounting Methods

  • Treatment in bin cards, stock ledgers, control accounts trial balance and final accounts
  • Requirements of IAS issued by the International Accounting Standard Board
  • Requirements of International Accounting Standard No. 2
  • Computerized stock accounting
  • Internal control implications including stock frauds prevention and management
  • Issuing stock; Methods, Authorization and Documentation
  • FIFO, LIFO, NIFO, HIFO, simple average, periodic average, with the average, specific identification, standard cost, adjusted selling price etc.
  • The concept of cost, net realization value and appraised value

Managing Stock Supplies Levels

  • Identifying the cost of carrying too little or too much stock
  • Maximum stock, minimum stock, reorders level; reorder quantity, economic order quality, etc.
  • Documenting consumption patterns i.e. maximum consumption, minimum consumption, normal consumption, abnormal consumption, lead-time etc.
  • The ‘Just-in-time’ concept
  • Managing wastages: normal and abnormal wastages
  • Stock insurance and security

Public Sector Peculiarities

  • The provision of the public sector finical regulations
  • The provision for the public services rules
  • The implication of several government circulars.

Workshops Are Designed For

  • Participants in this important workshop should include store managers, Invertors
  • Managers, purchasing and supplies personnel, software developers, imports and exports
  • Manages, Banking Officers, and other Management who perform related
  • Functions in the public and private sectors including Banks, Oil Companies, Trading
  • Organizations, Government Ministries, Parastatals, Agencies, Commissions, Local Governments, etc.
NGN 235,500.00
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Dr. Francis Okereke 08035062583