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Market Value (Fair Market Value)

Is the fair value of an asset on the statement date. Real estate held for investment is carried at appraised value, and certain assets are carried at book value or nominal value when value cannot readily be determined.

Master Data

Is the basic structure of codes and fields within SAP. Common fields of financial master data include cost objects, general ledger accounts/cost elements, fiscal period document type, material groups, profit center, and fund center. Master data is “standing data”, not transactional data.


Property that may be incorporated into or attached to a deliverable end item or that may be consumed or expended in performing a contract or grant. It includes assemblies, components, parts, raw and processed materials, and small tools and supplies that may be consumed in normal use in performing a contract or grant.

Materials Management

A tracking process that embraces all functions of acquisition, standards, quality control and surplus property management.


The degree to which a product is fit for its intended purpose, works correctly, and is suitable to purchase and use without serious risk.

Minor Plant Equipment

Assets with an acquisition cost of less than $500, plus any other plant equipment so designated by the Government, regardless of cost.

Monthly Review

See Financial Review and Control >>

Movable Equipment

Includes: 1) physical assets that are not affixed to any part of a room or building 2) those items that are attached to a room or building, but could be removed without costly or extensive alterations or repairs to the building, and could be used after removal.