Maintaining additional valuation information for a part

The page allows you to maintain additional valuation information for the part. Tell me more.

Select the “Maintain Additional Valuation Information” link at the bottom of “Maintain Planning Information” page.

The “Maintain Additional Valuation Information” page appears.

The system displays the following:

Date Format

The format in which the date fields are displayed in this page. This format is displayed from the “User Preferences” business component based on the login user ID. In case the format is not defined, the system displays the date format from the “Enterprise Modeling” business component by default.

The system displays the following in the “Part Details” group box:

Part #	The number identifying the part for which the additional valuation information must be updated.
Part Description	The description of the part.
Part Type	The type of the part.
Part Classification	The classification to which the part belongs, which could be “Rotable”, “Repairable” or “Controllable”.
Part Category	The category to which the part belongs.
Valuation Method	The valuation method adopted, which could be “Actual Cost”, “Standard Cost”, “Weighted Average”, “LIFO” or “FIFO”.
Part Account Group	A unique code identifying the account group under which the part is to be grouped.
Expensing Policy	The expensing policy defined for the part, which could be “On First Issue”, “On Phase Out” or “Core value on Phase Out”.

Note: The system updates the additional valuation information for the parts that are in “Fresh” status, only if the Expensing Policy is set as “On First Issue” or “Core Value on Phase Out” in the “Maintain Planning Information” page.

Enter the following fields in the "Maintenance Expense Policy Details" group box:

Inspection	Use the drop-down list box to specify the maintenance expense policy for the maintenance type “Inspection”. The system lists the following options: Add to Stock – If you select this option, the inspection cost will be added to the stock. Expense Off – If you select this option, the inspection cost will not be added to the stock and will be expensed off. The system displays “Expense Off”, by default.
Others	Use the drop-down list box to specify the maintenance expense policy for the maintenance type “Others”. The system lists the following options: Add to Stock – If you select this option, the other cost will be added to the stock. Expense Off – If you select this option, the other cost will not be added to the stock and will be expensed off. The system displays “Expense Off”, by default.
Overhaul	Use the drop-down list box to specify the maintenance expense policy for the maintenance type “Overhaul”. The system lists the following options: Add to Stock – If you select this option, the overhaul cost will be added to the stock. Expense Off – If you select this option, the overhaul cost will not be added to the stock and will be expensed off. The system displays “Expense Off”, by default.
Repair	Use the drop-down list box to specify the maintenance expense policy for the maintenance type “Repair”. The system lists the following options: Add to Stock – If you select this option, the repair cost will be added to the stock. Expense Off – If you select this option, the repair cost will not be added to the stock and will be expensed off. The system displays “Expense Off”, by default.

Enter the following fields in the “Time Life Costing Variable Details” group box:

Variable Value Basis

Use the drop-down list box to specify the basis of the variable value. The system lists the following options, if the Expensing Policy is set as “Core Value on Phase Out" in the “Maintain Planning Information” page:

Life to Overhaul – Select this option to indicate that the component life is monitored by the overhaul value, and the return cost computation is with respect to the overhaul value.
Life to Phase-out – Select this option to indicate that the component life is monitored till the retirement work unit is executed on the component.
Non-Life – Select this option to indicate that the part is of type other than “Component”.

The system leaves the field blank if the Expensing Policy is set as "First Issue" or "On Phase Out".

By default, the system displays "Life to Overhaul" if the "Expensing Policy is set as "Core Value on Phase Out". Else the system leaves the field blank, by default.

Std. Core Value %

The percentage of the standard core value. (Integer). Ensure that a positive value between 0 and 100 is entered here.

This field must be left blank, if the Expensing Policy is set as “On First Issue”.

Note: For the parts with Expensing Policy set as “Core Value on Phase Out” in the “Maintain Planning Information” page, and having stock status attribute as “Ownership-Internal”, the system updates the total value, variable value and the core value in the “Stock Maintenance” business component, based on the Std. Core Value % specified in this field. This is applicable when new serial number is generated for the parts and when the stock is moved into the warehouse.

Note: For example, if the Std. Core Value % is specified as 20% and if the total value or the stock value of the part is 20,000, then the core value will be updated as 4000 (i.e. 20% of 20,000) and the variable value will be updated as 16000 (i.e. 20000-4000).

Residual Value

Use the drop-down list to specify whether the remaining variable value is retained or not, when the component is returned back to the inventory. The system lists the following the options”

Carry Forward - When this value is selected, the remaining variable value will be retained when the component is returned back to the inventory.
Expense Off - When this value is selected the remaining variable value will not be retained when the component is returned back to the inventory.

The system lists both the options and displays “Carry Forward” by default, if the Expensing Policy is set as "Core Value on Phase Out". Else the system leaves the field blank.

Click the “Maintain Valuation Details” pushbutton to update the additional valuation details of the part.

The system displays the following in the “Record Statistics” group box:

Created by	The name of the user who recorded the additional valuation details of the part.
Created Date	The date on which the additional valuation details of the part were recorded.
Last Modified by	The name of the user who last modified the additional valuation details of the part.
Last Modified Date	The date on which the additional valuation details of the part were last modified.

Maintaining additional valuation information for a part – An overview

This page allows you to update the additional valuation details for a part. Using this page you can update the maintenance expense policy for the maintenance types Inspection, Others, Repair and Overhaul, and the time life costing variable details such as variable value basis, standard core value percentage and residual value for the part.

The system updates the total value, variable value and the core value for the part, based on the standard core value percentage specified in this page. The additional valuation information can be updated only for those parts that are in “Fresh” status.