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Obsolete Stock – SOP

3.88

To establish the requirement of providing adequate provisions in order to cover the loss of value in inventory due to obsolescence and deterioration.

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

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