VGNC

  What is Stock Audit & Why Businesses Need It? An inventory audit/ stock audit  is an analytical procedure that helps businesses to have a clear picture of synchronization between financial and inventory records. The main purpose of performing the stock audit is to avail accurate updates on the inventory in order to avoid stock-out circumstances. An inventory audit is more than a necessity for the re tail industry nowadays —it is a proven method to find out the current state of stocks, provide an insight to identify any scarcity, and also helps in ensuring that you’ll always have sufficient stocks at any time. Why Business Need to Perform Stock Audit? When it comes to selling goods, businesses prefer auditing their stocks on time- whether it’s for tax purposes or just to get an idea about the number of units on hand. Stock Audit is always more than a necessity for retail businesses. We understand the importance of inventory for a business, and therefore, we help them main...

  In a judgment given by National Company Law Appellate Tribunal ( NCLAT ) on 5 th   of Nov, 2019, in the case of ‘Hemang Phophalia v. The Greater Bombay Co-operative Bank Ltd & Anr’, NCLAT dealt with an issue that whether Insolvency Proceedings can be initiated if a Debtor Company is struck-off by ROC and is considered dissolved as per sec. 248(5) of the Companies Act, 2013. In order to understand the  legal viability  of initiating CIRP (Corporate Insolvency Resolution Process) against a Corporate Debtor when it has been struck-off by ROC, we need to understand the effects of striking-off the company in terms of Sec. 250 of the Companies Act, 2013. It explains that when company is struck-off it is considered having ceased to operate except for the purpose of realizing the amount due to the company and for the payment or discharge of the liabilities or obligations of the company. Hence it is clear that for realizing any amount from or by such Company, the compan...

  Need of Stock Audit – How VGNC Can Help You? Monitoring stocks can be a tough task for all businesses whether it’s small, medium, or large. Being in the industry for several years, VGNC –  audit firm in Delhi NCR  understand the importance of inventory control to manage the supply chain for retail businesses, and therefore, we help our clients to maintain sustainable inventory by conferring better  audit experiences .  We have a team of experts with years of experience in  inventory audit  and their management.  At VGNC, we follow a defined procedure to make sure that the accuracy is maintained between stock records and  physical stock . Following are a few reasons that highlight the facts why retail businesses need to perform a stock audit, Stock Audit  done by experts helps in identifying faults in the current inventory management system. Ensure that businesses are running seamlessly as per the available information, which in turn he...