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….”
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Publication Date: October 09, 2016