Editorial January 2, 1965 ISSUE

Taking Inventory

Ralph E. Wagers

The end of the calendar year is inventory time for many businesses. Without an accurate account of stock on hand, it would be impossible to produce an informative balance sheet; the result of the year's activities would be largely a matter of guesswork.

Often the year-end analysis of a business extends to policies and practices. Have they been successful? In what way can they be improved? What procedure should be adopted for the coming year? These analyses and decisions need to be intelligently arrived at in order for a business to forge ahead.

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