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What is stock discrepancy?

Updated: 9/20/2023
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10y ago

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The mismatch between bin card and stock ledger is called as "stock discrepancy".

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10y ago
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Q: What is stock discrepancy?
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Continue Learning about Accounting

When a discrepancy is entered in error who can change or erase the discrepancy?

nobody


How do you handle invoice discrepancy and how to resolved discrepancy?

The first thing to do about invoice discrepancy is analyze to find out if there was a mathematical error. When that fails, a meeting should be held between the parties in question to discuss the differences and fix them.


What is the system for submitting discrepancy reports?

WebSDR


Causes of discrepancy between physical counting and balance recorded in stock ledger card?

Sometimes the math might be done wrong. You might also have gone through and counted the inventory wrong. Someone might not have written down a right number.


Explain the importance of budgetary control in any business?

as this quetions is related to budh«gets, I will start by explaining what a budgets is and then the importance of controlling it. A budget is a Plan which show how much money will be needed by a business and how that money will be used during a certain period. A budgetary control is process of comapring the actual expenditure with the budget amount for a certain periods. the diferences between them are called discrepancy or varinaces. Each department within a business is a llocated a budget and the concerned manager may possibly be held reponsible for any discrepancy on the budget. the discrepancy can be favourable or unfavourable but to ascertain wheter the discrepancy is favourable or not others aspects need to be taken into consideration. Budgetary control is importante in the sense that it allows to make sure that

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