1. [Current issues and further resources](https://library.croneri.co.uk/cch_uk/amexe/am19-5)
2. [Audit procedures](https://library.croneri.co.uk/cch_uk/amexe/am19-4)
2.1. Planning substantive analytical procedures
2.1.1. Inventory turnover ratio
2.1.2. Inventory analysis
2.1.3. Seasonal fluctuations
2.1.4. Expansion and contraction
2.2. Attendance at the stocktake
2.2.1. Before the stocktake
2.2.1.1. Risk assessment procedures
2.2.1.2. Decide which locations to visit
2.2.1.3. Review of stocktake instructions
2.2.2. At the stocktake: observing the count
2.2.3. At the stocktake: test counting and inspection
2.2.3.1. Sample sizes at the stocktake
2.2.3.2. Work in progress
2.2.3.3. Confirmation of title
2.2.4. Year end procedures on the stocktake
2.2.5. Stocktake not at the year end
2.2.5.1. Perpetual stocktaking
2.2.6. Professional valuation
2.2.7. Non-attendance at the stocktake
2.3. Cut-off
2.3.1. Example tests
2.3.2. Substantive analytical procedures
2.3.3. Tests of detail
2.3.3.1. Method of valuation
2.3.3.2. Costs
2.4. Valuation of raw materials, work in progress and finished goods
2.4.1. Example tests
2.4.2. Substantive analytical procedures
2.4.3. Tests of detail
2.4.3.1. Method of valuation
2.4.3.2. Costs
2.5. Impairment
2.5.1. Example tests
2.5.2. Substantive analytical procedures
2.5.2.1. Reasonableness of provisions
2.5.2.2. Provision calculations
2.5.3. Tests of detail
2.6. Inventory held by third parties
2.6.1. Example tests
2.6.2. Substantive analytical procedures
2.6.3. Tests of detail