Objective:
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…”
Details:
Department : Finance / Accounting
Who is it for: Financial Controller, Chief Accountant
Document Type: SOP
Level of Detail / Difficulty: Brief / Basic
Involved Skills: Accounting, Financial Analysis, Inventory Management, Forecasting
File Format: Word (.docx)
Word Count: 181
Print Length: 01 Page
File Size: 24 KB
Language: English
Editable: Yes
Ready to Print: Yes