are experienced assessors and stock valuer’s give you the opportunity to
have a complete thorough and confidential independent valuation. We are members of the "Stocktakers
Institute of Australia Inc" and reflect the organisation principles.
Why do does
your business require an independent stock-take?
Audit purposes for end of year; It is a common
requirement for auditors to request an independent stock-take;
Profit &loss Statement; To ascertain the true financial
cash position of your business
Balance sheet; For ATO reporting and shareholder
dividend the inventory of the company or association must have an accurate
What we do;
A full and comprehensive stock-take using MYOB or RIC
Group RM Traveller Stocktake Software.
On-the-spot valuations of stock-in-trade for most
retail shops including supermarkets, restaurants, takeaways, newsagents,
liquor stores, hardware, gift stores etc.
Electronic or manual Stock-take and on completion
we will hand over a comprehensive report of the stock take.
Stock Valuations for the sale of a business.
Typically conducted immediately prior to settlement.
Stock Valuations for accounting and tax
Develop Asset Registers and associated inventory
Develop better warehouse inventory control systems
and conduct appropriate stock-counts on warehouse inventory.
Experienced Data Processing Operators can be provided
to enter stocktaking results into your computer system if required.
2 Bound copies and an electronic copy (PDF) M/S excel
or M/S access
Capacity to update your Point of sale system to reflect
the true value
Independent cash balance (audit) of safe and till
Independent valuation of assets (chattels and fixtures)
For employees of companies and cash flow businesses
including Community Stores and Roadhouses, there is a requirement to report
your inventory value and demonstrate transparency to the shareholders at the
end of financial year;
Tips for Remote Community Stores / Enterprises
The Stores inventory (stock) is the most valuable
(monetary) asset of the business and is also the most tangible and the
hardest to control and account for.
Stock control is essential in operating a cash flow
business that has large inventory items from numerous suppliers. Stock
taking particular end of financial year is essential in order to evaluate
the businesses balance sheet and operating profit and loss and overall
Ongoing and cyclic Stocktaking of high turnover items
such as cool drink grocery item’s and cigarettes and fuel will provide you
with the benchmarking and milestones that determine your management capacity
in regards to shrinkage and spoilage. Department stock-takes of high value
items such as electrical goods require constant vigilance to ensure they are
Management must ensure the security of the stock with
transport supplier invoicing theft and shoplifting is effectively minimised
Annual end of year stock-takes are the basis for
taxation reporting and the most accurate assessment for profit and loss
True independence requires an external stock-taker to
assess the inventory.
If your Store is managed by employees an independent
stock-take is essential.
On a management change-over, a stock-take is desirable
for peace of mind of incoming and outgoing management teams.
We have experienced examples of inventory being
adjusted for hundreds of thousands of dollars that could not be accounted
for - act now and ensure you have an independent stock-take.
The Stocktakers' Institute of Australia Inc. is the organisation of and for the
stocktaking profession throughout Australia.
All stocktakers who are members of the Stocktakers' Institute of Australia Inc.
must abide by the Institute's Code of Practice.
Members of the Stocktakers' Institute of Australia Inc. can be approached with
confidence on any question of business performance related to stock turnover,
stock audit and inventory control or stock in trade valuation.
Membership of the Stocktakers' Institute of Australia Inc. indicates a strong
Institute Code of Practice
impartially act with the highest standards of competence and integrity in all
dealings with their clients.
2. To only
accept and work on those assignments for which the member has the necessary
safeguard the confidentiality of their clients, and any information and data
imparted by them.
establish with the client, or clients, the reason for and the basis of, any
conveyancing and other tasks as might be necessary, to confirm to the client or
clients, that the member's independent judgment and expertise shall be accepted
in determining any aspect of the valuation, unless otherwise specifically agreed
conveyancing tasks, to enquire from the client, or his solicitor, whether there
are any qualifying clauses in the agreement between the parties affecting the
valuation, and to follow those terms as necessary. The Certificate of Valuation
will be qualified accordingly.
7. In the
case of stocktaking, to carry out instructions with the maximum accuracy allowed
by conditions, with regard to health and safety requirements and continuity of
the business, using the best methods of assessment pertinent to the type of
goods and their condition.
advise, before commencement, an estimate or firm quotation of the cost of
completion of the work, together with terms of payment.
liaise with the client's auditors where necessary.
specify on any statement of valuation, that basis of that valuation and any
qualifying statements that the stocktaker may deem necessary.
11. In the
event of inability to agree valuations with other parties, to follow the
guidelines of The Stocktakers' Institute of Australia Inc. and to cooperate with
any appointed arbitrator.
ensure that, in all business dealings, consultations, advice and conduct, every
effort is made to ensure that the client's fair and reasonable requirements are
undertake to engage staff on not less than the minimum provisions of the
appropriate award in pay and conditions.
abide by any subsequent guidelines established by the Institute.