FI 008 - Finance - Fixed Assets Control

Hotel Finance – Fixed Assets Control – SOP

FI 008: Fixed Assets Control


Objective:

To establish a standard method of accounting for the Hotel’s fixed assets and the responsibility for their care and security.

“…Whenever there is any physical movement of a fixed asset, from one location to another in the same department, or a transfer between departments, the Department Heads concerned must notify the Accounts Department so that the record can be updated…”


Details:

File Size: 25 KB
File Format: Word
Print Length: 05 pages
Publication Date: September 21, 2016
Language: English
Editable: Yes

The finance (sometimes called accounting) department function is recording financial transactions, preparing and interpreting financial statements and providing management with timely report and operating results.