take stock of

The sentence means 'I think we should assess the situation, starting from this moment.'
So, 'to take stock of' in this case means to assess, 'as of now' means starting from this moment.

thanks
i have just found some info vis-a-vis the meaning of 'in stock of': to ascertain the facts in regard to sg.
take stock of the situ means to learn the facts of it.
still 'as of now' troubles me.
anybody?
incho

Hmm.. in everyday speach 'as of now' could also carry the connotation of assessing the situation as it currently stands (to see where we stand), and thus could include past events. The history that led up to this moment, for instance, could be summarized when one takes stock of the situation in order to clarify the next step that should be taken. Do you agree?

Examples:
1. 'As of today the shop will be closed' = 'Starting from today (in other words, starting today and continuing) the shop will be closed.

2. 'I start my new job as of today' = 'I start my new job today (it begins today)'

Here:
http://idioms.thefreedictionary.com/take+stock
and here:
http://www.thefreedictionary.com/as+of

Anonymous, I agree that in everyday speech the original sentence
'i think we should take stock of the situation as of now'
could be intended to mean
'i think we should take stock of the situation as it now stands' or 'i think we should take stock of the current situation'
but it would be technically incorrect.

thank you!

'we must start to examine the facts about the situ from today onwards'.

incho

I think 'examine the facts about' sounds awkward. 'assess' would be better.