Inventory Policy

Inventory Policy

1. Policy and scope

   • Purpose and scope
   • Application
   • Out of scope
     • KOP

2. Group standard

   • IAS 2

3. Measurement

   • Definition
   • Valuation of inventory
     • What can be included
     • What should be excluded
     • Basis - FIFO?

4. Recognition

   • Examples of inventory items in AHK
   • Relevance
   • Materiality

5. Tracking

   • Stock takes
     • Write offs
     • Obsolescence / Damage
     • Types
   • Safety, security & storage
   • Excess stock
   • Insufficient stock

6. Monitoring, compliance and effectiveness

7. Control environment

   • The Board
   • Group Finance
   • Local FC