Management of Inventory of the Parent Company - Vietnam Oil and Gas Group Regulations
According to Article 14 of the Financial Management Regulations of the Parent Company - Vietnam Oil and Gas Group issued together with Decree 36/2021/ND-CP on the management of inventory. To be specific:
Inventory goods refer to purchased goods for resale that are still in stock, raw materials, materials, tools, equipment in stock or already purchased goods en route, semi-finished products in the production process, finished products yet to enter storage, finished products in stock, and finished products sent for sale.
The parent company has the authority and is responsible for promptly handling inferior, deteriorated, technically outdated, stagnant, or slow-moving inventory goods to recover capital. The authority to decide on handling follows the provisions of Clause 2, Article 13 of these Regulations.
At the end of the accounting period, if the original cost of the inventory listed in the accounting books is higher than the net realizable value, the parent company must make provisions for inventory devaluation as regulated.
Sincerely!
