what is consumables material, Asset & Tools?

[former_member288833]

Hi,

I just want know consumables material,Non Convertible, Asset & Tools.

Regards,

Ram Rathode

Edited by: ramrathode on Aug 18, 2011 8:36 AM

Edited by: ramrathode on Aug 18, 2011 8:38 AM

[former_member184655 · Accepted solution]

Dear Ram,

1.consumable material (MM-IM) - Inventory Management (MM-IM)

A material or service that is the subject of procurement and whose value is recorded using cost element accounts or fixed

asset accounts.There are consumable materials:

1.Without a material master record

2.With a material master record without inventory management

3.With a material master record with inventory management on a quantity basis only

2.Asset All items to which a value can be assigned.

There are two kinds of assets:

Financial (Example: cash)

Physical (Example: machinery)

3. Tools: Production related tools like cutting tool,drill bit,grinding wheel etc which is used for machining purpose.

Regards

Mangalraj.S

[former_member288833 · Accepted solution]

Thank You so much

Regards,

Ram Rathode

[former_member533946]

Hi dear,

From PP ponit of view.

1) Consumables - Those items which gets consumned with the job and cant be recovered. e.g.welding electrode,grinding wheels etc.

2) Assets - Those items which when sold can be converted in to liquid cash. e.g.Machines

3) Tools - Those items which are required for the production but not get consumed with job and can be used for the other jobs as well. e.g. Spanners,Drill bits,etc.