To establish the requirement of providing adequate provisions in order to cover the loss of value in inventory due to obsolescence and deterioration.
“…Most Hotels already have a provision established and it should only be adjusted on a periodic basis to reflect significant changes in the level of provision required as indicated by the Slow Moving/ Obsolete Stock Report…”
File Size: 21 KB
File Format: Word
Print Length: 01 page
Publication Date: October 06, 2016
Document Type: SOP