Maintain Asset Values {AOPS-8}

The purpose of this option is to define and maintain assets value information. 

This option consist of three blocks.  Block 1 display asset information of the asset being maintained, Block 2 is used to insert the asset value records and Block 3 again display the the asset value records created for the asset displayed in Block 1.

The following asset value records can be created:

• MA  -  Manual Price (Fair Value)
• RE   -  Residual Value
• Purchase Price
• IN    -  Invoice 
• J     -  Journal
• Q    -  Cheque
• RV  -  Revalued Amount

Definitions issued by the Accounting Standards Board - November 2004:

• "Recoverable service amount  is the higher of a non-cash-generating asset's fair value less costs to sell and its value in use."

• "Inventory Value or Carrying amount  Is the amount at which an asset is recognised after deducting any accumulated depreciation and accumulated impairment losses."

• "Purchase Price or Cost  is the amount of cash equivalents paid or the fair value of other consideration given to acquire an asset at the time of its acquisition or construction or, where applicable, the amount attributed to that asset when initially recognised in accordance with the specific requirements of other Standards of GRAP."

• Procedures:
• None