Effective Management of Stock and Store Course

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.