Inventories occupy the most strategic position in structure of working capital of most business enterprises. It constitutes the largest component of current asset in most business enterprises. In the sphere of working capital, the efficient control and management of inventory has paired the most serious problem to the health institutions. The turnover of working capital is largely governed by the turnover of inventory, that is the rate of working capital is largely governed by the amount of inventory which is largely provided by the government. It is therefore quite natural that inventory which helps to maximize profit occupies the most significant place among current and profit assets.
The American usage of the word ‘inventory’ is synonymous with the British use of the word ‘stock’, this synonym is evident in the definitions of inventory and stock by the Oxford Dictionary. The Oxford English Dictionary defined inventory as follows:
1. A list, catalogue, detailed account
2. A lot or stock of goods, etc which are or may be made the subject of an inventory.
The American usage of the word ‘inventory’ is synonymous with the British use of the word ‘stock’, this synonym is evident in the definitions of inventory and stock by the Oxford Dictionary. The Oxford English Dictionary defined inventory as follows:
1. A list, catalogue, detailed account
2. A lot or stock of goods, etc which are or may be made the subject of an inventory.
Disclaimer: Note this academic material is intended as a guide for your academic research work. Do not copy word for word. Note: For Computer or Programming related works, some works might not contain source codes
CITE THIS WORK
(2016, 01). The Management And Control Of Inventories (drugs) In Government Health Institution.. ProjectStoc.com. Retrieved 01, 2016, from https://projectstoc.com/read/6979/the-management-and-control-of-inventories-drugs-in-government-health-institution-5859
"The Management And Control Of Inventories (drugs) In Government Health Institution." ProjectStoc.com. 01 2016. 2016. 01 2016 <https://projectstoc.com/read/6979/the-management-and-control-of-inventories-drugs-in-government-health-institution-5859>.
"The Management And Control Of Inventories (drugs) In Government Health Institution.." ProjectStoc.com. ProjectStoc.com, 01 2016. Web. 01 2016. <https://projectstoc.com/read/6979/the-management-and-control-of-inventories-drugs-in-government-health-institution-5859>.
"The Management And Control Of Inventories (drugs) In Government Health Institution.." ProjectStoc.com. 01, 2016. Accessed 01, 2016. https://projectstoc.com/read/6979/the-management-and-control-of-inventories-drugs-in-government-health-institution-5859.
- Related Works
- The Role Of Accounting In The Control Of Public Expenditure In Nigeria (a Case Study Of Central Bank Of Nigeria (cbn)
- The Importance Of Cost Accounting System In Manufacturing Industries
- The Effect Of Financial Accounting Reporting On The Management Of A Business (a Case Study Of Emenite Ltd)
- The Evaluation Of Accounting Control System In Nigeria
- Evaluation Of Value For Money Audit, As A Tool For Fraud Control In The Public Sector (a Study Of Power Holding Company Of Nigeria Abuja)
- The Role Of Auditing In Controlling Fraud In Government Establishment. A Case Study Of Federal Pay Office Enugu
- The Role Of An Accountant In The Poverty Alleviation Programme Of The Federal Government (a Case Study Of Enugu North Local Government Area).
- Significance Of External Auditor’s On The Examination Of Financial Statement (a Study Of First Bank Of Nigeria Plc)
- Inventory Control And Management In A Manufacturing Firm
- The Need For Accounting Educational In Small Scale Industries