R12.x Oracle Cost management Fundamentals

Duration : 3 Days (24 Hours)

R12.x Oracle Cost management Fundamentals Course Overview:

The Oracle Cost Management Fundamentals course is a comprehensive training program designed for users of Oracle E-Business Suite Release 12.x. It offers an overview of the Cost Management product, covering concepts and implementation steps. Topics include setting up organizations, cost book structures and rules, product costing, cost allocations, and what-if cost simulations. The course also explores cost analysis and reporting capabilities, including Activity Based Costing, with hands-on exercises to reinforce learning. It is ideal for organizations implementing or upgrading a cost management system and for training staff on the product’s concepts and functionality.

Intended Audience:

  1. Customers using Oracle E-Business Suite Release 12.1 and 12.2 finance modules, along with cost management suites, who are responsible for cost analysis.
  2. Financial analysts, budget managers, cost analysts, and controllers seeking to enhance their understanding of cost management in Oracle E-Business Suite.
  3. Individuals responsible for the maintenance and reporting of an organization’s spending, costs, and other financials.
  4. IT professionals involved in the installation, operation, and maintenance of financial systems, who can benefit from the content of this training.

Learning Objectives of R12.x Oracle Cost management Fundamentals:

1. Understand the basic principles of cost management.
2. Gain an understanding of set up and account structure for Cost management.
3. Learn about the different cost methods and its usage.
4. Gain an understanding of the process, journals and rules within Cost management.
5. Understand the concepts of Plan and Actual Account Openings.
6. Have an insight into budgeting, allocations and encumbrance.
7. Understand the Cost control and Information Integrator.
8. Gain knowledge on how to process and enter Cost Variances.
9. Have an Introduction to Inventory Costing Methods and their impact on the General Ledger.
10. Learn the complete process of Advanced Cost Accounting (ACA) and the reporting features within.

 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • Overview of Analyzing WIP Transactions
  • Viewing Job and Schedule Values Online
  • Reporting and Analyzing WIP Values
  • 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
  • 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
  • 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
  • Overview of Revenue / COGS Matching
  • Setting Up Revenue / COGS Matching
  • Revenue / COGS Recognition Methodology
  • COGS Recognition and Concurrent Processes
  • Supported Business Scenarios
  • 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

Describing T-Accounts

Describing T Accounts for WIP Transactions

R12.x Oracle Cost management Fundamentals Course Prerequisites:

There are no prerequisites for this training course. Any user with basic knowledge of accounting and cost management principles can attend it.

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Training Exclusives

This course comes with following benefits:

  • Practice Labs.
  • Get Trained by Certified Trainers.
  • Access to the recordings of your class sessions for 90 days.
  • Digital courseware
  • Experience 24*7 learner support.

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