Hotel Finance – Operating Equipment Inventory – SOP

      FI 015: Operating Equipment Inventory


      Objective:

      To establish a simplified standard method for charging the in-use inventory and issuance of operating equipment such as China, Glass, Silverware, Linen, Kitchen Utensils, Uniforms, etc.

      “…The intention is to carry a “Base In-use Stock” value on the Balance Sheet which fairly represents the written down value of the inventory in circulation. This should alleviate the need for periodic time consuming adjustments to the accounts, and improve the accuracy of the monthly management accounts….”


      Details:

      File Size: 22 KB
      File Format: Word
      Print Length: 02 pages
      Publication Date: October 09, 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.