Dear Shyam,
Thank you for your reply. The only difference between the solution explained my me and the solution proposed by you is that you are suggesting to Derive Expenditure Sp. Class from GL Account, whereas in mine, the same is based on the Valuation class.
As far as the scenario of Asset is concerned, we have got the idea. But how to deal the same in case of material. Can you elaborate it more by explaining the series of steps, which will be required to be performed for catering the scenario.
Regards,
Amar Lal