What is consumables material, Asset & Tools?

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

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

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