What does SKU mean in Accounting?

This page is about the meanings of the acronym/abbreviation/shorthand SKU in the Business field in general and in the Accounting terminology in particular.

Stock Keeping Unit

Business » Accounting

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Definition

What does SKU mean?

Stock keeping unit
In the field of inventory management, a stock keeping unit or SKU is a distinct item, such as a product or service, as it is offered for sale that embodies all attributes associated with the item and that distinguish it from all other items. For a product, these attributes include, but are not limited to, manufacturer, product description, material, size, color, packaging, and warranty terms. When a business takes an inventory, it counts the quantity of each stock keeping unit. SKU can also refer to a unique identifier or code that refers to the particular stock keeping unit. SKUs are not always physical objects. Anything that can be sold separately from anything else has a stock keeping unit, such as extended warranties, delivery fees, installation fees, and licenses. Other entity tracking methods, with varying regulations, are Universal Product Code, International Article Number, Global Trade Item Number, and Australian Product Number.

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"SKU." Abbreviations.com. STANDS4 LLC, 2014. Web. 19 Dec. 2014. <http://www.abbreviations.com/term/573325>.


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