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What are cost centre accounting and cost element accounting in SAP controlling?
Wiki User
∙ 9y ago
Answer Cost centers are divisions that add to the cost of the organization,
but only indirectly add to the profit of the company.
Typical examples include Research and Development, Marketing and Customer service Cost Element
Basically, cost element are carriers of costs. Primary cost elements are like materail costs, personnel costs, energy costs...
where a corresponding GL account exists in FI..to allow costs to flow...
Secondary cost elements are like production costs, material overheads, production overheads, they can be created and administered in only CO. These are used in internal cost allocation, overhead calculation, settlement transactions., it does not flow to FI... Hope this helps Answer Cost centers are divisions that add to the cost of the organization,
but only indirectly add to the profit of the company.
Typical examples include Research and Development, Marketing and Customer service Cost Element
Basically, cost element are carriers of costs. Primary cost elements are like materail costs, personnel costs, energy costs...
where a corresponding GL account exists in FI..to allow costs to flow...
Secondary cost elements are like production costs, material overheads, production overheads, they can be created and administered in only CO. These are used in internal cost allocation, overhead calculation, settlement transactions., it does not flow to FI.
Wiki User
∙ 9y ago
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GFEBS Name the steps of the Army's Cost Management process?
Cost Accounting, Cost Analysis, Cost Controlling and Cost Planning
What has the author Philipp A Hofstetter written?
Philipp A. Hofstetter has written: 'Das Informationssystem als Element des Controlling' -- subject(s): Service industries, Management, Cost accounting, Management information systems
A variable cost system is an accounting system where standards are set for each manufacturing cost element?
True.
What are the various objective of cost accounting?
Important objectives of cost accounting:The primary objectives of cost accounting is to determine the cost of each product, process, job, operation or service rendered.Cost accounting determines the profitability of each product, process, job, operation or service rendered.Cost accounting classifies cost into different elements such as materials, laborer and overhead. It is further divided as direct and indirect cost for cost control and recording.Cost accounting aims at controlling cost by setting standards and comparing those with the actual, the deviation or variation between the two is identified and necessary steps are taken to control them.
What is Product Cost Planning in SAP?
Product cost planning is an area within product cost controlling where you can plan costs for materials without rederence to order and set prices for materials and other cost accounting objects.
Why cost accounting is used instead of financial accounting?
cost accounting is used instead of financial accounting because cost accounting is used to determine the cost of the good produced
What is the Cost and cost accounting also give out objectives of cost accounting?
answer
How does management accounting differ from cost accounting?
Management accounting includes both financial and cost accounting, tax planning and tax accounting. Cost accounting, on the other hand, does not include financial accounting, tax planning and tax accounting.
Compare and contrast between cost accounting and financial accounting?
compare and contrast cost accounting and financial accounting
Cost accounting and management accounting?
Cost accounting is a subset of management accounting, although the two are used interchangeably.
What is cost center in cost accounting?
Cost centre is that department or that area due to which company has to incur and that cost is included in product cost, So production department is a cost centre because all costs are incurred due to production of volume of product while selling department is called revenue department because due to this department revenue is actually generated.
What are the different fields of accountung?
1- Cost Accounting 2 - Financial Accounting 3 - Management Accounting
