- What are the directors responsibilities for stocktaking?

b- What categories of stock are there?

c- List the characteristics of good stocktaking procedures.

d- What are the auditors duties towards stocktaking:

Before the stock take

During the stock take

After the stock take?

e- What are the auditors tasks in connection with work in progress?

f- What overall tests can be applied in respect of stock?

g- Summaries of the accounting standards for the valuation of:

-Stock

-Work in progress

-Long term contracts