AboutLeo Lingham Expertise Questions include managing work situation, managing work relations,
managing your boss, personal problems, career planning, career
development, training, coaching, counseling etc
Experience 18 years working managerial experience covering business planning,
strategic planning, management services, personnel administration etc
plus
24 years of management consulting in business planning, strategic planning, human resources development, training, business coaching,
etc
Question QUESTION: 1.Let assume Fixed assets are asstes having a value/cost of $200 and above and a useful life of one and above years while supplies have a value/cost of below $200 and a useful life of below one year. Where are assets fall worth less than Birr 200 but have a useful life of more
than a year categorized like paper punchers, staplers, pocket,calculators, paper try, chairs, etc.
ANSWER: SENAY,
THESE ARE OFFICE SUPPLIES STOCK---CONSUMABLES
AND HENCE SHOWN AS STOCK ITEMS, NOT ASSET.
REGARDS
LEO LINGHAM
---------- FOLLOW-UP ----------
QUESTION: 1.what is the clear definition and meaning of STOCK ITEMS and inventories ?
Thanks much more for your tolerance
Answer SENAY,
STOCK means = merchandise units of any items.
EXAMPLE -----100 staplers.
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STOCK ITEMS means items bought for putting on the store shelf.
EXAMPLE -------bought 100 staplers to keep in store.
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IN STOCK means units in hand for use or sale.
EXAMPLE ------100 STAPLERS IN STOCK.
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OUT OF STOCK means no units in hand---all used up or sold.
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Inventory means a list of goods and materials held available in stock by a business
EXAMPLE
STOCK IN HAND ---------100 STAPLERS.
small staplers 50 units
medium size staplers 30 units
large size staplers 20 units.
THIS IS THE INVENTORY OF STOCKS OF STAPLERS.
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