That's a general rule, the time in service must be recorded for overall airframe life, however various parts have maintenance requirements based on whatever the maintenance manual says for that part. Landing gear, pressurisation systems, certain engine parts are on cyclical limits on most types, usually based on landings, pressure cycles or starter cycles. The engine life can be run off tacho for instance, or VDO as one poster said above for Rotax installations. If you were to set up your own schedule of maintenance for your type you could set the limits as per your own limitations to whatever counter should you have the data to back it up.