• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

Test of controls :inventory

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Test of controls :inventory

  • This topic has 2 replies, 2 voices, and was last updated 9 years ago by tinaboy.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • November 10, 2015 at 6:03 pm #281572
    tinaboy
    Member
    • Topics: 27
    • Replies: 126
    • ☆☆

    Good day sir,

    In trying to ensure that movements of inventory is properly authorized ,is it possible that an entity can design internal transfer documents which must be signed by both the departments or parties involved in the transfer?This could also be further signed by a more senior member of staff though it doesn’t usually happen in some places.I was thinking about the risk of goods leaving the premises without any tracking .

    Thank you

    November 10, 2015 at 9:13 pm #281598
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10594
    • ☆☆☆☆☆

    Yes. Those sort of internal transfer documents could be used, signed by three people. That solution would not be universal if the transfers were all within one physical site because it does entail a lot of bureaucracy which could be inefficient. However, it might be used for very significant transfers and certainly transfers between company locations that were separate from one another.

    Usually if goods are leaving the premises more care is taken: despatcher would sign, gate security might sign and the recipient of the goods, possibly a customer, would sign a copy delivery note.

    November 10, 2015 at 9:54 pm #281605
    tinaboy
    Member
    • Topics: 27
    • Replies: 126
    • ☆☆

    Thank you so much. I get it now. So the bottom line is the entity must have GDNs and GRNs in place for all movement of inventory.

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • DeborahProspect on ACCA SBR Specimen Exam 2 Question 1
  • darshan.69 on Chapter 9 Pension Schemes TX-UK FA2023
  • darshan.69 on Chapter 9 Pension Schemes TX-UK FA2023
  • Jarzin on The Finance Function in the Digital Age – CIMA E1
  • dkessilfie on FM Chapter 1 Questions – Financial management objectives

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in