This book, produced and published by the Institute of Licensed Trade Stock Auditors, has been compiled by qualified people with a comprehensive experience of all sectors of the Catering and Licensed trades. It explains the principles and procedures; the advantages and benefits of regular stocktaking. The book covers most aspects of the Stock Auditors work and will be a valuable aid, both to practitioners and their clients. For the qualified or "trainee" stock auditor, the book provides an up-to-date and detailed guide to liquor, food and retail stock auditing and to the particular procedures involved in the change of business ownership - an area of equal interest to lawyers and accountants. Reference to this publication will increase understanding of this specialist area of the accounting practice. Great emphasis is placed on profitability and control. Efficient financial management skills are required in every sector of the trade and apply equally to the small country pub and to the large city-centre hotel; to the local working men's club and the multi-bar night club operation. This book will be of use to anyone needing an insight into the skills, the principles and the professional "know how" of Stock Auditing.