same with the stock records on test check basis. Finished Goods Finished Goods of the company are packed oil such as peti pecked and tin in various brand name maintained by the company which is 17.79 % of total stock. Stock is properly packed and stored and ready to dispatch. No discrepancy was found on physical verification done on a Sample basis. Stores & Spares Reported on estimation basis. As discussed and application given to us by the management, in our opinion stock position at the factory was good. However the Stores & Spares Ratio have reduced from 13.35% to 6.52% in the current year. (b) Verification of stocks sent/ received for job work/ in transit Not Applicable (c The company is maintaining Maintainance of records (including computerized records for raw material and excise records, if any) finished goods. These were up to date. (d) All stock is well maintained and stored at factory site. Quality of stock is good and stock is ready to use/sale As company is Age and quality of stock including position its peak season so no non-moving/slow of slow/non-movie stock in % stock is lying at factory site. 4(a) Whether statements are submitted in Yes, Stock statements are submitted prescribed format and within stipulated monthly in prescribed format and within stipulated time period time. (b) Whether letters of credit opened during the relevent period and stock received on account of the same properly reflected in the borrower's books and submitted to the branch. Yes 5 As per sanction book debts upto 90 days are to be taken in consideration to arrive at drawing power Analysis of Receivables (a) Book Debts as on 23-02-2015 Rs. 195.97 Book Debts upto 90 days Verification of Receivables age of receivables chances of recovery position Rs. 195.97 Book Debts beyond 90 days regarding confirmation of balances from Nil debtors, dispute on outstanding Doubtful Debts: No receivables if any:- Doubtful debts were reported to us.
same with the stock records on test check basis. Finished Goods Finished Goods of the company are packed oil such as peti pecked and tin in various brand name maintained by the company which is 17.79 % of total stock. Stock is properly packed and stored and ready to dispatch. No discrepancy was found on physical verification done on a Sample basis. Stores & Spares Reported on estimation basis. As discussed and application given to us by the management, in our opinion stock position at the factory was good. However the Stores & Spares Ratio have reduced from 13.35% to 6.52% in the current year. (b) Verification of stocks sent/ received for job work/ in transit Not Applicable (c Maintainance of records (including excise records, if any) The company is maintaining computerized records for raw material and finished goods. These were up to date. (d) Age and quality of stock including position of slow/non-movie stock in % All stock is well maintained and stored at factory site. Quality of stock is good and stock is ready to use/sale As company is its peak season so no non-moving/slow stock is lying at factory site. 4(a) Whether statements are submitted in prescribed format and within stipulated time. Yes, Stock statements are submitted monthly in prescribed format and within stipulated time period (b) Whether letters of credit opened during the relevent period and stock received on account of the same properly reflected in the borrower's books and submitted to the branch. Yes 5 Analysis of Receivables As per sanction book debts upto 90 days are to be taken in consideration to arrive at drawing power (a) Verification of Receivables age of receivables chances of recovery position regarding confirmation of balances from debtors, dispute on outstanding receivables if any:- Book Debts as on 23-02-2015 Rs. 195.97 Book Debts upto 90 days Rs. 195.97 Book Debts beyond 90 days Nil Doubtful Debts: No Doubtful debts were reported to us.
stock-audit-report.docx