R12.x Oracle Cost management Fundamentals

R12.x Oracle Cost management Fundamentals Certification Training Course Overview

In this class, pupils discover how to fix up and use Oracle Cost Management in conjunction with Oracle Inventory, Oracle Bills Of Material, and Oracle Work In Process (WIP). Scholars as well discover how to use Oracle Cost Management as a tool for inventory control, valuation, profit analysis, and coverage.

Learn To:

  • Simulate, analyze, and forecast product costs
  • Easily update and manage item unit costs
  • Define the inventory structure and cost controls that are important to your business
  • View item costs, inventory and work in process values, accounting entries, and gross margins
  • Automatically transfer inventory and work in process transactions to your general ledger
  • Value inventory and work in process on a perpetual basis

R12.x Oracle Cost management Fundamentals (24 Hours) Download Course Contents

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Course Modules

Module 1: Overview of Oracle Cost Management
  • Using Oracle Cost Management
  • Role of Cost Management
  • Understanding Costing Methods
  • Performing Inventory Control and Valuation
  • Analyzing Profits
  • Management Reporting
  • Budgeting and Planning
  • Oracle Cost Management Integration
Module 2: Overview of Setup and Implementation of Oracle Cost Management
  • Setting Up in Other Applications
  • Setting Up in Oracle General Ledger
  • Setting Up in Oracle Work in Process
  • Setting Up in Oracle Inventory
  • Setting Up in Oracle Purchasing
  • Setting Up in Oracle Bills of Material
  • Setting Up in Oracle Cost Management
Module 3: Setting Up in Oracle Cost Management
  • Setting Up Profile Options
  • Setting Up Cost Types
  • Copying Costs
  • Setting Up Activities and Activity Costs
  • Defining Project Cost Groups
  • Understanding Cost Elements
  • Setting Up Subelements
  • Understanding Landed Cost Management
Module 4: Describing Cost Controls
  • Describing General Ledger Cost Controls
  • Inter-organization Transfers with Multiple Set of Books
  • Describing Organizational Cost Controls
  • Organization-Level Default and System Accounts
  • Defining Inter-organization Transfer Information
  • Describing Financial Cost Controls
  • Describing WIP Controls for Costing and WIP Parameters
  • Receiving Options and Controls
Module 5: Item Costing
  • Selecting an Item-Cost Type Association
  • Defining Item Costs
  • Viewing Item Costs
  • Describing Elemental Costs
  • Phantom Costing
  • Mass Editing Item Accounts and Cost Information
  • Viewing Material and WIP Transaction Distributions
  • Resubmitting Transactions for Costing
Module 6: Defining Resource and Overhead Costs
  • Defining BOM Parameters
  • Defining Resource Costs and Overheads
  • Defining Departments and Associating Resources
  • Associating Overheads With Departments and Resources
  • Defining Routings
  • Defining Bills of Material
Module 7: Standard Costing
  • Overview of Standard Costing
  • Understanding the WIP Transactions Cost Flow
  • Setting Up Standard Costing
  • Setting Up Standard Costing for Manufacturing
  • Reporting Pending Adjustments
  • Running a Supply Chain Cost Rollup
  • Updating Standard Costs
  • Understanding Standard Cost Transactions
Module 8: Average Costing
  • Overview of Average Costing
  • Setting Up Average Costing
  • Understanding Average Costing Flows
  • Updating Average Costs
  • Viewing Item Cost History Information
  • Understanding Average Cost Variances
  • Average Cost Transactions
Module 9: Analyzing WIP Transactions
  • Overview of Analyzing WIP Transactions
  • Viewing Job and Schedule Values Online
  • Reporting and Analyzing WIP Values
Module 10: Period Close for Inventory Organizations
  • Cost Accounting at Period Close Overview
  • Viewing Pending Transactions
  • Transfer Options
  • Closing the Period in Inventory
  • Posting to the General Ledger
  • Reconciling Perpetual Inventory to GL
  • Client Extensions
Module 11: Periodic Costing
  • Major Features of Periodic Costing
  • Understanding Periodic Average Costing
  • Business Value of Periodic Average Costing
  • Understanding Periodic Incremental LIFO Costing
  • Business Value of Periodic Incremental LIFO Costing Setting Up Periodic Costing
  • Setting Up Periodic Costing
  • Associating Organization with an Organization Cost Group
  • Processing and Updating Periodic Costs
Module 12: FIFO and LIFO Costing
  • Major Features of FIFO / LIFO Costing
  • Understanding Layer Cost Flows
  • Updating Layer Costs
  • Viewing Layer Item Costs
  • Understanding Layer Cost Variances
  • Layer Cost Transactions
  • Layer Cost Transactions in Manufacturing
Module 13: Revenue and COGS Matching
  • Overview of Revenue / COGS Matching
  • Setting Up Revenue / COGS Matching
  • Revenue / COGS Recognition Methodology
  • COGS Recognition and Concurrent Processes
  • Supported Business Scenarios
Module 14: Subledger Accounting
  • Overview of Subledger Accounting (SLA)
  • Standard Accounting Process
  • SLA Accounting Process
  • Subledger Accounting Profile Option
  • Defining Accounting Derivation Rules
  • Create Accounting Program-
  • Viewing Accounting and Accounting Events
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Course Prerequisites
  • Basic Computer Knowledge.
  • End Users

After completing this course, Students will be able to:

  • Describe costing methods
  • Analyze transactions for WIP and Inventory costing at (standard and average)
  • Establish cost controls
  • Maintain standard costs on a periodic basis