Physical count results are compared with the records, and differences are investigated and corrected. In an audit, the auditor attends the count to observe its reliability.
Source: 213 sayılı VUK m. 185-186
Related terms
Inventory count observationThe auditor attending the entity's year-end physical count to verify the existence and condition of inventories.Inventories (TAS 2)Assets held for sale in the ordinary course of business, in the process of production, or as raw materials and supplies to be used in production.Completion accountsFinancial statements prepared as at the closing date of an acquisition, through which the final price is set by net debt and working capital adjustments.Accounting estimatesThe determination by management judgement of amounts that cannot be measured precisely, such as provisions, useful lives, expected credit losses and fair values.Accounting policiesThe specific principles, bases, conventions, rules and practices an entity applies in preparing its financial statements.Accrual basis of accountingThe principle of recording transactions as income, expenses, assets and liabilities in the period in which they occur, rather than when cash is received or paid.
Last updated: October 31, 2026 · This definition is for general information only.