Cost Accounting Modules
Cost Accounting Modules
Define your own complex yet flexible cost structures to use in your company’s cost accounting activities.
You can set up a flexible, detailed cost structure for each operation and for each product, including purchased materials, ingredients and components. You can apply the cost structure to inventory at any time to obtain valuation based on a choice of cost models. Analyze costs using reports such as cost of goods sold, purchase price variance and standard cost activity.
- Configure and manage full-absorption standard costing using a wizard-driven guide that walks you through a series of screens, reports, questions and calculations
- Manage, analyze and compare multiple concurrent cost modelsInclude cost of goods sold (COGS) while reporting on standard costing
- Analyze cost of goods received (COGR) and purchase price variance (PPV) of standard cost activity report (SCAR)
- See current standard inventory valuation or valuation at any historical point in time — providing you with useful insight during accounting month-end closing
- Analyze all activities that affect standard inventory valuation, such as receipts, production, scrap, shipments and manual adjustments, in extremely granular detail or at high-level summarization
- Easily view changes in valuation between any two points in time
- Take advantage of standard costing in Cost Setup, Part Cost Structure and Advanced Parts Traceability and Product Genealogy
- Define and configure cost types (labor, material, overhead, etc.) and subtypes (setup labor, production labor, etc.) that are used throughout the system
- Utilize cost setup in all costing methods and in configuring labor activity tracking
Part Cost Structure
- Set up a detailed sophisticated cost structure for each operation in the process routing of each product, including purchased materials, ingredients and components
- Define each operation-level cost as a combination of cost components, such as source material, prior operation costs, labor, material, overhead, packaging, etc.
- Enter values for each cost component manually or have the system calculate them automatically based on user-defined formulas that draw on data from elsewhere in the system, such as standard production, labor, work center and other costs
- Define multiple cost models
- Apply security to protect cost models from unauthorized access
- Keep track of a detailed change history