I’m not sure if anyone on our first SAP implementations truly understood the costing flow. It is one gift to understand SAP technically, and quite another to understand it as an accounting process. I’m sure you’ve had similar experiences, especially in Product Costing and Cost Object Controlling. As a Senior Education Consultant at SAP, my first goal was to educate myself! Once I began working in the classroom with students, I found they were as confused as I had once been. As an SAP educator, I’ve made it my mission to simplify explanations of these intimidating topics.
Cost Object Controlling is one of my very favorite subjects. The process is multifaceted, but no longer intimidating. I like to think of it now as “a thing of beauty”. Once you have a firm grasp of what is involved, I think you will agree with me.
I look forward to presenting at the Controlling 2015 conference September 21-24 in San Diego. My session Filling in the gaps – FI/CO account posting during production processes in SAP will enable you to better understand when, and how, values post to Financial Accounting and Management Accounting. We will review a simple production accounting cost flow from issuing raw materials all the way to settlement at period end close. As we discuss each step, we will update a very simple, effective cost flow worksheet (yours to keep).