Archive | Materials

Documents Required for Purchasing Stores Routine | Cost Accounting

The normal process of purchasing, storing, control and issue of materials consists of the following documents:- 1. Bill of Materials 2. Purchase Requisition 3. Purchase Order 4. Material Inspection Note 5. Goods Received Note (GRN) 5. Goods Received Note (GRN) 6. Stores Requisition Note 7. Material Transfer Note 8. Material Return Note 9. Bin Card […]

Perpetual Inventory System | Cost Accountancy

In this article we will discuss about Advantages and Disadvantages of Perpetual Inventory System. Advantages of Perpetual Inventory System: The following advantages can be derived from Perpetual Inventory System: (i) The long and costly work of a stock-taking count can be avoided. (ii) It does not become necessary to stop production at the time of […]

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