INSTITUTE OF ACCOUNTANCY ARUSHA

MODULE GUIDELINES FOR STORES AND STOCK CONTROL (AFT 05114,/ BMT 05105)

FACILITATOR: Mr. Mr. GEORGE E. MKUBURO

&
WINFRIDA MARO
ACADEMIC YEAR: 2023/2024

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Topic Sub Topic Objectives Learning Tools Tasks
Outcome
Introduction to Stores • Meaning of Meaning of At the end of this topic students Stores and stock • Written tests • Define Store and
and Stock Control Store and stock should be able to: control activities and stock,warehouse,de
• Define Store and are well examinations port
• Meaning of stock,warehouse,deport understood. • Discussions • Explain the meaning
Inventory/stock control • Explain the meaning of and seminars of stock control
and Management stock control • Case • Outline the
• Purpose/objectives of • Outline the objectives of analysis/role objectives of store
Store keeping store keeping play keeping
• Responsibilities of the • Describe the • Describe the
stores function responsibilities of stores responsibilities of
• Meaning, duties and functions stores functions
responsibilities of a • Explain the Meaning, • Explain the Meaning,
store keeper duties and duties and
• Reasons of keeping responsibilities of a responsibilities of a
inventories or stock store keeper store keeper
• To state the reasons of • To state the reasons
keeping inventories or of keeping
stock inventories or stock
References Required Reading List:
1. All, J. F. (2017). Stock Control Spreadsheet: Inventory Control Log. S.l.: Independently published.
2. Jon Schreib feder (2010) achieving effective Inventory Management 5th Edition effective Inventory Management. Inc.
3. Stevenson William, J. (2005), Operations Management 8th Edition Mac Graw Hill
4. USA Walter D. (2003), Inventory Control and Management, John Wiley & Sons UK.
5. David J. Plasecki (2003) Inventory Accuracy, People Processes and Technology OPS publishing.
6. Tesha, C. P. (2003), Stores Manual, Dar Es Salaam.
7. Jessop, D. and Morrison, A. (2001) Storage & Supply of Materials, London, Pitman.
8. Tesha, C. P. (1998), Modern Inventory Management and Control Manual, Dar Es Salaam.

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Topic Sub Topic Objectives Learning Tools Tasks
Outcome
9. Dobbler Donald, W. (1995), Purchasing and Materials Management, Mc Graw Hill Co Ltd India.

Stores Functions in • Receiving of materials At the end of this topic students Stores functions •Written tests and • Define and Receive
Business Operations and documents used should be able to: in organizations examinations materials from the
• Inspection of materials, • Receive materials from are well •Discussions and suppliers
importance and types the suppliers comprehended. seminars • Apply any type of
of inspection • Apply any type of •Case analysis/role inspection in
• Storage methods, inspection in inspecting play inspecting materials
storage equipment materials received received
&systems • Describe storage • Describe storage
• Issue and dispatch methods and methods and
goods equipments equipments
• Recording and • Describe storage • Describe storage
accounting systems systems
• Issue and dispatch • Issue and dispatch
goods to the user goods to the user
• Record and account • Record and account
materials in store or materials in store or
warehouse warehouse
• Explain stores recording • Explain stores
systems recording systems
• Outline stores • Outline stores
Accounting methods / Accounting methods
methods of costing / methods of costing
issues issues
References Required Reading List:
1. Asare, D. B. (2017). Stock Control: Inventory Management. Boston: Elsevier.
2. Max Muller (2011) Essentials of Inventory Management 2nd Edition American Management Association OPS Publishing.

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Topic Sub Topic Objectives Learning Tools Tasks
Outcome
3. David J. Plasecki (2009) Inventory Management Explained. A focus on Forecasting: Lot sizing safety stock and ordering systems OPS
Publishing.
4. Lysons K. & Farrington B. (2006), Purchasing and Supply Chain Management, 7th Edition, FT Prentice Hall.
5. Saxena, J. P (2003) Warehouse Management & Inventory Control, Vikas Publishing House Pvt Ltd, India.
6. Compton, H.H. (1995), Supplies and Materials Management, Mc Donald and Evans London UK.

Classification of • Classification of At the end of this topic students Classification of •Written tests and • Classify of
stocks in inventories in terms of should be able to: stocks in examinations inventories in terms
organizations production materials • Classify of inventories in organizations are •Discussions and of production
(RM, WIP & FG) terms of production correctly seminars materials (RM, WIP &
• Classification materials (RM, WIP & described and •Case analysis/role FG)
inventories in terms of FG) inventory cost play • Classify inventories
non-production • Classify inventories in well explained in terms of non-
materials (MRO, terms of non-production production materials
stationaries) materials (MRO, (MRO, stationaries)
• Classification stationaries) • Classify inventories
inventories in terms of • Classify inventories in in terms of capital
capital items terms of capital items items
• Inventory costs that • Explain Inventory costs • Explain Inventory
need control in the that need control in the costs that need
organization organization control in the
• Inventory control • Explain inventory control organization
systems systems • Identify total costs
associated with
management of
stocks
• Explain inventory
control systems

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Topic Sub Topic Objectives Learning Tools Tasks
Outcome
References Required Reading List:
1. Asare, D. B. (2017). Stock Control: Inventory Management. Boston: Elsevier.
2. Max Muller (2011) Essentials of Inventory Management 2nd Edition American Management Association OPS Publishing.
3. David J. Plasecki (2009) Inventory Management Explained. A focus on Forecasting: Lot sizing safety stock and ordering systems OPS
Publishing.
4. Lysons K. & Farrington B. (2006), Purchasing and Supply Chain Management, 7th Edition, FT Prentice Hall.
5. Saxena, J. P (2003) Warehouse Management & Inventory Control, Vikas Publishing House Pvt Ltd, India.
6. Compton, H.H. (1995), Supplies and Materials Management, Mc Donald and Evans London UK.

Inventory forecasting • Mention the inventory At the end of this topic students Inventory • Written tests • Mention Inventory
techniques in forecasting technique should be able to: forecasting and forecasting
performing • Computation Simple • Mention Inventory techniques in examinations techniques
organization forecasting techniques performing • Discussions • Computation of
operations Moving Average organization
• Compute Simple Moving and seminars Simple Moving
• Computation of operations • Case
Average Average
Weighted Moving (simple & analysis/role
• Compute Weighted • Computation of
Averages in inventory weighted moving play
Moving Averages in average) are Weighted Moving
forecasting • Assignments Averages in
inventory forecasting correctly applied
inventory forecasting
Inventory control • Stock levels (Min, At the end of this topic students Inventory • Written tests • Calculate stock
techniques in max, lead time, should be able to: control and levels (min, max,
organizations (various reorder level, • Calculate stock levels techniques in examinations lead time, reorder
stock levels & basic average stock (min, max, lead time, organizations level, average stock
• Discussions
EOQ) levels) (various stock
reorder level, average and seminars levels)
levels & basic
stock levels) EOQ) are well • Case analysis • Describe Economic
• Describe Economic computed /role play Order Quantity
Order Quantity model model

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Topic Sub Topic Objectives Learning Tools Tasks
Outcome
• Compute the basic EOQ • Assignments & • Compute the basic
Quizzes EOQ

Stock accounting and At the end of this topic students Stock accounting • Written tests • List down and
valuation techniques • List down the should be able to: and valuation and describe the
in handling stock methods for Stores • List down and describe techniques in examinations methods for Stores
control functions Accounting the methods for Stores handling stock • Discussions Accounting
(FIFO, LIFO & WAVCO) • Compute store Accounting control functions and seminars • Compute store
valuation using • Compute store valuation (FIFO, LIFO & • Case analysis valuation using FIFO,
FIFO, LIFO and using FIFO, LIFO and WAVCO) are /role play LIFO and WAVCO
WAVCO perfectly applied.
WAVCO • Assignments & • Apply FIFO and
• Meaning and causes
• Explain the meaning WAVCO techniques
of discrepancies
Quizzes
and causes of Meaning and as stock valuation
causes of
discrepancies method recognized
discrepancies
by IFARS
• Explain the
Meaning and
describe the
causes of
discrepancies

References Required Reading List:

1. All, J. F. (2017). Stock Control Spreadsheet: Inventory Control Log. S.l.: Independently published.
2. Jon Schreib feder (2010) achieving effective Inventory Management 5th Edition effective Inventory Management. Inc.
3. Stevenson William, J. (2005), Operations Management 8th Edition Mac Graw Hill
4. USA Walter D. (2003), Inventory Control and Management, John Wiley & Sons UK.
5. David J. Plasecki (2003) Inventory Accuracy, People Processes and Technology OPS publishing.
6. Tesha, C. P. (2003), Stores Manual, Dar Es Salaam.

6|Page
Topic Sub Topic Objectives Learning Tools Tasks
Outcome
7. Jessop, D. and Morrison, A. (2001) Storage & Supply of Materials, London, Pitman.
8. Tesha, C. P. (1998), Modern Inventory Management and Control Manual, Dar Es Salaam.
9. Dobbler Donald, W. (1995), Purchasing and Materials Management, Mc Graw Hill Co Ltd India.

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