How to list hotel tableware in accounting

There are two situations when hotel tableware is listed in accounting:

The first type, fragile tableware (glass or porcelain cups, plates, bowls, chopsticks) and tableware are treated as usual" Low value consumables”.

Second, durable Western tableware (stainless steel cutlery) that meets the definition of fixed assets is included in fixed assets.

Low-value consumables are similar to fixed assets. They can be used multiple times during the production process without changing their physical form. They also need to be repaired during use and may have residual value when scrapped. Because of its low value and short service life, a simple method is used to amortize its value into the product cost.

Fixed assets refer to non-monetary assets that are held by an enterprise for the purpose of producing products, providing labor services, leasing or operating and managing, used for more than 12 months, and with a value reaching a certain standard, including houses, buildings Objects, machines, machinery, means of transportation and other equipment, appliances, tools, etc. related to production and business activities. Fixed assets are the means of labor of an enterprise and the main assets on which the enterprise relies for production and operation.