Physical inventory counting is a much unloved procedure in most merchandising and manufacturing businesses. The process ensures that the inventory on the company's financial books matches the amount ...

Businesses must carry out year-end inventories to meet tax requirements and to gather accurate data for financial statements. For some businesses, a complete physical inventory can be a major ...

Each department with an inventory is required to take a physical count at least once a year to ensure an accurate asset value is reported on the balance sheet and that cost of goods sold is recorded ...