Stocktaking sampling and perpetual inventory: less effort, more efficiency
Stocktaking is essential for inventory management and the annual financial statements, but are often time-consuming and cost-intensive. However, this does not have to be the case, as the German Commercial Code (HGB) in Germany and the Austrian Commercial Code (UGB) allow simplifications such as permanent full inventory and inventory sampling in addition to the full inventory on the reporting date. However, misinformation means that many companies continue to waste time and resources on stocktaking.