Joint determination of lease period and preventive maintenance policy for leased equipment with residual value

a b s t r a c t This paper investigates the influence of the length of the lease period on the maintenance policy for leased equipment with residual value. The length of the lease period increases, however, the lessor's income increases, and the maintenance cost of the equipment rises as well. Therefore, the lease payment and maintenance service of the equipment are crucial items in the lease contract for the lessor's profit. If the equipment breaks down within the lease period, minimal repairs will be performed on the equipment and the lessor may incur a penalty cost if the repair time exceeds a pre-specified tolerable time. The imperfect preventive maintenance (PM) actions are carried out when the age of the equipment reaches a controlled-limit during the lease period. Under this maintenance scheme, the mathematical model of profit is constructed and then the optimal maintenance policy and the length of the lease period are obtained such that the expected total profit is maximized. Finally, numerical examples are given to illustrate the effects of the optimal length of the lease period and the maintenance policy for profit model

A review of maintenance service for leasing equipment

Recent business trend focuses more on efficiency. One of the chosen ways is leased the capital equipment from other parties. The leasing option encourages both the lessee and lessor to discuss any consequences include responsibility for managing the equipment performance, rectifying failure during operation, maintenance option provided during leasing period, as well as the accompanying cost. The review and maping of publications are conducted based on the order in which the reference appears in the publication, in order to follow the development of thinking on the research topic of leasing, yet to identify the more recent development during the last decade. Several potential research ideas could be generated from the maping toward the fast and flexibel busines

An Investigation Into the Economic Useful Life of Commercial Aircraft as Impacted by Maintenance and Economic Variables

This research involved examining the economic useful life of commercial aircraft and the impact of maintenance and economic variables on the viability and longevity of the asset. The data sample consisted of the entire population of Boeing commercial aircraft produced between 1956 and 2021. The objective was to determine the effect of both maintenance and economic variables on the longevity and usefulness of commercial aircraft. As manufacturers work with issues such as service life, economic life, safety, and critical design features, those in the aviation community focus on the operational side of the equation––how long can one operate the asset, and at what point is it no longer effective to continue investing into the asset? The research presents an extensive review of the maintenance and technological advances in commercial aircraft over the last 60 years and an investigation of various aspects of the economic useful life concept in both use and application from an appraisal and industry perspective. The research focus is on the actual age at which an asset is removed from operational service and the underlying causes of such a decision

Pengembangan Model Kebijakan Maintenance dengan Mempertimbangkan Perpanjangan Periode Lease

Harga beli dan biaya perawatan peralatan semakin mahal, sehingga perusahaan mempertimbangkan untuk lease peralatan daripada membelinya. Perpanjangan periode lease akan memberikan keuntungan lebih banyak, baik bagi pihak lessor (yang menyewakan) maupun pihak lessee (penyewa). Pada penelitian sebelumnya, perpanjangan periode lease ditawarkan pada awal kontrak. Bagi pihak lessee, model ini memiliki resiko dalam pembiayaan seperti ketidakpastian performansi peralatan dan tanggung jawab lessor. Oleh karena itu, penelitian ini mencoba untuk memodelkan kebijakan maintenance yang optimal dengan mempertimbangkan perpanjangan periode lease (extended lease) yang ditawarkan pada akhir masa kontrak. Tujuannya untuk menghilangkan resiko yang ada pada penelitian sebelumnya. Minimal repair dilakukan untuk memperbaiki peralatan gagal agar kembali ke kondisi operasional, sedangkan imperfect preventive maintenance untuk meningkatkan kondisi operasional peralatan ketika mencapai batas kontrol optimal agar terhindar dari kegagalan. Model matematika dibangun untuk menentukan batas kontrol, jumlah dan degree preventive maintenance, serta jumlah periode extended lease optimal. Pada bagian akhir, percobaan numerik diberikan untuk menunjukkan pengaruh panjang extended lease dan kebijakan maintenance dalam memaksimalkan keuntungan lessor. ================================================================= The purchase price and maintenance cost of the equipment are more expensive, thus the company considers to lease the equipment instead of purchase it. The lease period extension will provide more benefits for both the lessor (owner) and the lessee (user). In a previous research, the lease period extension was offered in the beginning of the contract. For the lessee, this model had some risks in finance, such as uncertainty of the equipment performance and lessor responsibility. Therefore, this research attemps to modelling the optimal maintenance policy by considering lease period extension (extended lease) that is offered in the ending of the contract. It aims to eliminate some risks in the previous research. Minimal repair is performed to rectify a failed equipment back to its operasional state, while imperfect preventive maintenance is conducted to improve the operasional state of the equipment when reaches a controlled limit to avoid failures. The mathematical model is constructed to determine the optimal controlled limit, number and degree of preventif maintenance, and number of extended lease period. Finally, numerical examples are given to illustrate the influences of the optimal length of the extend ed lease and the maintenance policy to maximize profit of the lessor

Complete Accounting of Fixed Assets at Vietnam Public Hospitals When Applying VPSAS 17 and VPSAS 31

Purpose: The aim of this study is to provide a solution based on the regulations of VPSAS that have been issued to improve the accounting of fixed assets in public hospitals in Vietnam today.   Theoretical framework: The study uses regulatory documents of the government and industry to understand the nature, scale of management, fixed assets used in Vietnamese public hospitals.   Design/methodology/approach: The study uses survey data through google form, the research article synthesizes existing shortcomings, analyzes and evaluates from survey data, thereby offering solutions from previous research results, specific characteristics of the health sector and applying VPSAS 17 and VPSAS 31 to accounting for tangible fixed assets at Hanoi public hospitals today to help accountants and managers at Vietnamese public hospitals to participate. study and apply it well in their work.   Findings: The study has provided a number of solutions to improve fixed asset accounting in Vietnamese public hospitals when using VPSAS 17 and VPSAS 31. Next, The results show The determination and recognition of fixed assets are influenced by different management mechanisms, so the treatment and recognition of assets are also different.   Research, Practical & Social implications: The study shows Vietnam is in the process of integrating and perfecting the accounting system according to international regulations, including the public accounting system. One of the public sectors that manages the largest amount of government fixed assets is the public hospital sector.   Originality/value: The value is that In the process of public sector financial reporting disclosure and transparency, the Ministry of Finance has recently developed and issued 11 Vietnamese public accounting standards, the first two phases in the reform process in the field of financial management. public administration at the national and local levels…the application of Vietnamese Public Accounting Standards is important in the PFM Program efforts to improve the efficiency of public spending and strengthen governance. management of public resources towards sustainable development, including accounting for fixed assets at public hospitals.  Therefore, it will greatly affect and influence the financial position in the public financial statements

Penentuan Kebijakan Preventive Maintenance untuk Kendaraan Leasing dengan Mempertimbangkan Usage Rate

Pada leasing equipment, kegiatan maintenance dilakukan oleh pihak lessor untuk mencegah terjadinya kerusakan equipment yang akan mengganggu kegiatan lessee. Umumnya, penentuan kebijakan maintenance hanya mempertimbangkan usia equipment sehingga memungkinkan terjadi over-maintenance atau pun sering terjadi kerusakan. Oleh karena itu, pada penelitian ini penentuan kebijakan maintenance dilakukan dengan mempertimbangkan usage rate dari tiap equipment. Equipment yang digunakan dalam penelitian ini adalah kendaraan niaga milik ASSA Rent yang digunakan oleh lessee. Untuk tiap lessee dihitung expected maintenance cost yang terdiri dari biaya preventive maintenance (PM) dan corrective maintennace (CM). Berdasarkan hasil perhitungan, jumlah PM yang menghasilkan expected maintenance cost terendah merupakan jumlah PM optimal. Jumlah PM yang dibutuhkan pada kendaraan pickup dengan kategori usage rate rendah, sedang dan tinggi adalah sebanyak 3, 4, dan 5. Pada kategori yang sama, kendaraan truk CDE membutuhkan PM sebanyak 3, 3 dan 5. Kendaraan truk CDD membutuhkan PM sebanyak 3, 3, dan 5. Sedangkan kendaraan HD pada kategori sedang dan tinggi membutuhkan PM sebanyak 4 dan 7. Kendaraan dengan usage rate tinggi membutuhkan lebih banyak PM untuk mencegah kerusakan yang sering terjadi. Sedangkan kendaraan dengan usage rate rendah membutuhkan lebih sedikit PM agar dapat meminimalkan maintenance cost. Perhitungan jumlah PM dan expected maintenance cost juga dapat digunakan sebagai referensi dalam menentukan nilai kontak leasing. ======================================================================================================== In the leasing equipment, maintenance activities are done by the lessor to prevent equipment damage that will interrupt lessee activities. Generally, the determination of maintenance policy just depends on age of the equipment, so it is posibble for the occurement of some problems like over-mainteance or periodic damages. So that, in this research, the determination of maintenance policy is done by considering the usage rate of each equipment. The equipments used in this research are pickup and truck that belong to ASSA Rent. The value of usage rates for each vehicle will be calculated in units of kilometer per year and then caategorized by lessee. Total maintenance cost that consist of preventive maintenance (PM) cost and corrective maintenace (CM) cost for each lessee will be calculated. Based of own result, number of PM that generate minimize total maintenance cost is an optimal PM. Number of PM that required by pickup with low, normal and high usage rate are 3, 4, and 5. Number of PM that required by CDE with low, normal and high usage rate are 3, 3, and 5. Number of PM that required by CDD with low, normal and high usage rate are 3, 3, and 5. Number of PM that required by HD with normal and high usage rate are 4, and 7. The higher the usage rate, the higher the number of PM too. Vehicles with high usage rate require more PM to prevent frequent damage. Beside of that, vehicles with lower usage rate require less PM so it can minimize maintenance costs. Number of PM and total maintenance cost can be used as a reference for determine contract valu

A handbook for automatic data processing equipment acquisition

http://archive.org/details/handbookforautom00waliNANAN

Features of legal support for the operation of small atypical Ukrainian coal mines under contractual conditions of a public-private partnership

Purpose is to study and develop the economic and legal model of small atypical coal mines basing upon the analysis of the operations under contractual condition of public-private partnership as well as upon adequate legislative and engineering support in the context of pressure of internal and external factors. Methods. The study has been carried out with the use of economic and legal approach being the evaluation of actual techno-economic activities of the two market participants, i.e. small atypical mine and state-owned mining enterprise, identification of their interaction problems and determination of obstacles preventing from their cooperation. Component two of the approach is the analysis of available (legal) mechanisms for regulatory management of relations between the two market participants as well as formulation of appropriate proposals to conclude such an economic agreement which would satisfy demands and involve governmental interests and interests of a private investor (partner). Findings. It has been determined that economic contracting under the conditions of engineering as well as procedural and institutional operational dependence of a small atypical coal mine, and hypothetical liquidation of a state-owned coal mining enterprise is possible under the conditions and in accordance with the procedure by the legal system of Ukraine. A type of agreement concerning mutual provision of services with the required appendices has been identified to normalize production activities, to control operational safety, and to minimize the socioeconomic results of such potential conservation (liquidation) of unpromising mines. Originality. Innovative model of legal support for a small atypical mine establishment and operation has been developed which has never been formulated in such a proposed manner in Ukrainian scientific sources, and in the foreign ones. Practical implications. The study results may be applied to develop business relations in the context of a coal industry, i.e. to establish small atypical mines, to solve the severe socioeconomic, investment, and environmental problems of coal mining Ukrainian regions with unpromising mining objects, and to exercise influence on the contents of a concept aimed at extraction industry reforming as well as its implementation plan.Мета. Дослідження і розробка господарсько-правової моделі малих нетипових вугільних шахт на основі аналізу досвіду їх експлуатації на договірних умовах державно-приватного партнерства, а також відповідного правового та технологічного забезпечення в умовах тиску внутрішніх і зовнішніх факторів. Методика. Дослідження виконано із використанням економіко-правового підходу, що полягає в оцінці фактичної техніко-економічної діяльності двох суб’єктів господарювання: малої нетипової вугільної шахти і державного вугледобувного підприємства, виявлення проблем в їх взаємовідносинах, встановлення перешкод для співпраці. Другою складовою зазначеного підходу є аналіз доступних (легальних) механізмів правового регулювання відносин між двома зазначеними суб’єктами господарювання та формулювання відповідних пропозицій до висновку такого виду господарського договору, який би задовольняв потреби і враховував інтереси держави й приватного інвестора (партнера). Результати. Встановлено, що укладання господарського договору в умовах, що склалися, технічної та організаційно-правової залежності експлуатації малої нетипової вугільної шахти і передбачуваної ліквідації державного вугледобувного підприємства є можливим на умовах і в порядку, визначеному законодавством України. Обґрунтовано вибір виду договору про взаємне надання послуг з необхідними додатками, що забезпечують нормалізацію виробничої діяльності, контроль техніки безпеки, а також мінімізацію соціально-економічних наслідків передбачуваної консервації (ліквідації) неперспективних шахт. Наукова новизна. Розроблено нову модель правового забезпечення створення та експлуатації малих нетипових шахт, яка в представленому вигляді не знаходила свого розвитку в науковій літературі як в Україні, так і за кордоном. Практична значимість. Результати дослідження можуть використовуватися в розвитку підприємницьких відносин у вугільній галузі – створення малих нетипових вугільних шахт і вирішення гострих соціально-економічних, інвестиційних та екологічних питань вугледобувних регіонів України з неперспективними гірничими об’єктами, а також у сприянні впливу на зміст концепції реформування вугільної галузі і плану заходів по її реалізації.Цель. Исследование и разработка хозяйственно-правовой модели малых нетипичных угольных шахт на основе анализа опыта их эксплуатации на договорных условиях государственно-частного партнерства, а также соответствующего правового и технологического обеспечения в условиях давления внутренних и внешних факторов. Методика. Исследование выполнено с использованием экономико-правового подхода, заключающегося в оценке фактической технико-экономической деятельности двух субъектов хозяйствования: малой нетипичной угольной шахты и государственного угледобывающего предприятия, выявления проблем в их взаимоотношениях, установлении препятствий для сотрудничества. Второй составляющей указанного подхода является анализ доступных (легальных) механизмов правового регулирования отношений между двумя указанными субъектами хозяйствования и формулирование соответствующих предложений к заключению такого вида хозяйственного договора, который бы удовлетворял потребности и учитывал интересы государства и частного инвестора (партнера). Результаты. Установлено, что заключение хозяйственного договора в сложившихся условиях технической и организационно-правовой зависимости эксплуатации малой нетипичной угольной шахты и предполагаемой ликвидации государственного угледобывающего предприятия является возможным на условиях и в порядке, определенном законодательством Украины. Обоснован выбор вида договора о взаимном предоставлении услуг с необходимыми приложениями, обеспечивающими нормализацию производственной деятельности, контроль техники безопасности, а также минимизацию социально-экономических последствий предполагаемой консервации (ликвидации) неперспективных шахт. Научная новизна. Разработана новая модель правового обеспечения создания и эксплуатации малых нетипичных шахт, которая в представленном виде не находила своего развития в научной литературе как в Украине, так и за рубежом. Практическая значимость. Результаты исследования могут использоваться в развитии предпринимательских отношений в угольной отрасли – созданию малых нетипичных угольных шахт и решении острых социально-экономических, инвестиционных и экологических вопросов угледобывающих регионов Украины с неперспективными горными объектами, а также в оказании влияния на содержание концепции реформирования угольной отрасли и плана мероприятий по ее реализации.Authors of the paper express their gratitude to V.K. Mamutov, Doctor of Juridical Science, Corresponding Member of the NAS of Ukraine, the Honoured Lawyer of Ukraine, Director of Institute of Economic and Legal Research of NAS of Ukraine, and V.A. Ustymenko for scientific and advisory, and organizational assistance in the process of preparation of materials and pursuance of the relevant studies. Moreover, the authors express thanks to reviewers and editors for their valuable comments and recommendations concerning the improvement of the paper structure

Comprehensive Annual Financial Report, 1999

https://irl.umsl.edu/cab/1156/thumbnail.jp

Public Landlords and Tenants: A Survey of the Developing Law

This paper presents a parameter estimation of continuous-time polytopic models for a linear parameter varying (LPV) system. The prediction error method of linear time invariant (LTI) models is modified for polytopic models. The modified prediction error method is applied to an LPV aircraft system that has flight velocity as the varying parameter and stability and control derivatives (SCDs) as the model parameters. In an identification simulation, the polytopic model is more suitable for expressing the behaviors of the LPV aircraft system than the LTI model from the viewpoints of time and frequency responses. The SCDs of the initial polytopic model are adjusted to fit the model output to the output-data obtained from the LPV aircraft system