|6. Financial and Cost Accounting
6.1 Document Processing
Enter the following document types. If necessary add the appropriate
6.2 Organization Information
Both of the two company codes will roll up into one corresponding area. Define the controlling area and allocate it to the respective company codes.
Enter the basic data as follows:
For primary cost entry and primary cost allocation take over the G/L accounts of 4xxxxxFrom financial accounting into cost accounting. Therefore you need to analyze the chart of accounts and determine the appropriate cost element types.
Implement the respective secondary cost elements, statistics ratio and activity types for the internal cost allocation.
The validity period for cost elements and activity elements is from 01.01.2002 till 12.31.9999.
6.4 Cost Center and Internal Order Accounting.
6.4.1 Cost Center Hierarchy
Set up appropriate standard hierarchies for your controlling area:
K00 Standard hierarchy, ABC Motors.
K99 Clearing cost centers
K99X6 Clearing cost center
K00X ABC Motors International,
K00X1 General cost center
K00X2 Service cost center
K00X3 Production center
K00X4 Material center
K00X5 Distribution and Administration
Create the standard hierarchy for the PH (where X=1) and US (where X=2) following the chart above. K001 e.g. would represent the cost centers assigned to the Philippine Company code and K002 would represent all cost centers in the US Company code.
Not all cost centers are relevant for both companies.
Configure cost centers for all primary and secondary costs for actual and planned postings. Service cost centers also have to be managed on a quantity basis.
The ABC Motors international has decided to attend a rally held in Clark Field, Pampanga each year to promote their street motorcycle model. In an attempt to prove that there is actual business value to this annual free for all, the marketing manager has requested to see a detailed analysis of the commitments and the actual costs. An internal order will be used to track and report these costs. The costs will be settled to the sales Laguna cost center once all costs have been accounted for. In addition AMI maintains strict budget controls over the actual costs.
Create an internal order type for promotions and marketing events that allows recording commitment items.
6.5 Planning –KP34 create planner profile
The prices for activity types should represent given standards and not calculated values. Generate a plan for the following key figures, activity types and cost elements in the PH Company. Check with production for additional requirements.
6.5.1 Statistical Key Figure Planning 91000 – No. of employees.
To apportion the cost of the cafeteria corresponding to the no. of employees of the single cost center, the ratio for the following cost centers must be planned as a constant.
To apportion the cost of energy corresponding to the planned energy consumption rates of the single cost center, the key figure for the following cost centers must be planned as a constant:
The activity type “repair” must be planned on cost center X12100 plant maintenance with the following values:
The activity type “assemble brakes” must be planned on cost center x13100 street motorcycle assembly with the following values:
The activity type “assemble motorcycles” must be planned on cost center X13100 street motorcycle assembly with the following values:
Generate a plan for the following cost elements in ABC Motors International:
Cost center X11000- General CC
6.5.7 Planned Assessment
Costs have been planed and entered into the cafeteria cost center. Within the framework of plan assessment, the costs will be assessed based on the number of employees within the corresponding cost centers. Enter the corresponding sender recipient relationship.
6.5.8 Internal Order Planning
Plan the following costs for the Clark Field Rally & Beer Drinking Exhibition order:
6.6.1 Business transactions
Ensure that primary costs from MM and SD have been recorded in the cost centers. Create purchase requisitions for accessories and liquid supply you intent to use on the rally. Process the requisitions forward to partial goods received.
In addition, enter the following FI transactions:
Reproduce the following actual transactions for the internal cost allocation posting of statistical key figure 9100
Perform an actual assessment similar to the planned assessment.
6.6.4 Actual Order Settlement
Perform a settlement of your Clark Field Rally Order To the Roces Avenue sales cost center.
A limited month-end closing should be completed in the respective company codes based on the current month. Therefore, it is necessary to close the accounting period by the last day of the month and to open the new period for the next month. Maintain the corresponding tables. Draw up the preparation of balance sheet and a profit and loss statement. Identify the account balance changes from prior month and reconcile the differences to the corresponding transactions.
6.8.1 Financial Statements
In order to prepare balance sheet and profit and loss statement at the subsidiary level, a financial statement version with the corresponding hierarchy levels has been created.
Version Name: MSCA
Each group is totaled and sub-totaled. Each position has its allocated text. G/L accounts have been allocated to the lowest level. Revise if necessary.
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