Section 581
In the case of stores held under a Stocks or Trading Account a
of Repealed
Tabular
Tabular Summary in the form laid down below will be prepared as
Summary.
soon as possible after close of the financial year .
-582. The Tabular Summary will show :
582.1.1 Opening Balance -
the value of stores in stock at the beginning of the year as shown by the Stock Account or, in the case of Works Accounts, of works in progress being the value of jobs in hand remaining uncompleted at the end of the previous year.
582.1.2 Total debits and total credits in the account .
582.1.3 582.1.4 582.2 582.3
Any figure required to adjust the closing balance in 582.1.4 to the total value of the costed and certified stock list in 582.
2. Any such adjustment must be fully explained .
Closing Balance-the value of stores in stock at the end of the financial year as shown by the Stock Account.
The Tabular Summary will be supported by a Costed and Certified Stock List.
Copies of the Tabular Summary and the Stock List will be sent to the State Financial Officer and to the Auditor
General.