PRMS Standard Costing Course Content

PRMS Standard Costing Content

MXB

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Duration	3 Days
Audience	Cost Accountants, Cost/Financial Managers, Business Analysts, Controller, Programmer/Analyst
Goals	Know how to develop and roll product costs. Understand and be able to configure GL Transaction accounts. Understand the flow of GL transactions. Understand the reporting of GL transactions. Understand the concept, setup and operation of the Cost Analysis Workbench.
Topics Covered	Developing Product Cost, Configuring and assigning GL accounts, Walk through of GL transactions by operational process, Cost Analysis Workbench
Instruction Methodology	Instructor led with hands on workshops or self-review

This is the most complete and applicable content on PRMS Standard Costing ever published!

1) How to setup the product cost covering all the elements

2) How to setup all the general ledger accounts, what they are and the hierarchy of their placement and use

3) Program by program GL Transactional effects

4) Self-guided workshops for the entire ordering and manufacturing process complete with specific steps, program options and values to a prescribed model with expected results

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Course Details

What is Standard Costing Definitions Structure of Manufacturing Orders Accounting Principles Types of Variances PRMS Terminology

Developing Product Cost User Profile Maintenance Currency Code Maintenance System Control Multi-Currency Options Inventory Options Product Costing Options Burden Elements Product Structure Exchange Rate Master

Product Cost File Structure

Product Cost Kinds and Types

Purchased Items Product Master Purchasing Rate Codes Duty Code Maintenance

Make Items Work Centers Routing Maintenance Rate Code Maintenance Setup Code Maintenance Product Structure Maintenance

Calculating and Updating Costs Purchase Product Cost Update Product Cost Update

Product Cost Inquiries/Reports Product Cost Report Product Cost Inquiry Product Cost Query File Build

Assigning G/L Numbers G/L Account Master System Control G/L Account Descriptions

G/L Transactions The Application Process Our Example The Basics - PRMS G/L Transactions Purchase Order Receipts Invoice Entry Disbursement Journal Move through Inventory Issue to Work Order Report Labor Applying Burden Burden Calculations and Factors Backflush Material, Labor, Burden Post Inventory to Stock Close Work Order Ship to Customer Update Accounts Receivable Receive Payment from Customer

G/L Transactions (cont.) Miscellaneous Transactions Outside Operations Indirect Labor Scrap Setup Labor By-product Receipt Replenishment Orders Multiplant Transfers

Monitoring Performance G/L Interface Listing Historical Purchase Price Variance Report Purchase Price Variance Subledger Report Work In Process Valuation Report Production Variance Report Production Yield Report Stock Status Report

Cost Analysis Workbench What Is It? System Control Maintenance Functions Scrap Transaction Code Maintenance Product Structure Base Quantity Update A/P & PO Purchasing Costs Product Level Labor and Burden Product Level Scrap Labor and Burdens Product/ECN Level Material Usage Work Center Level Labor & Burden Product Level Material Usage Product/Work Center Level Labor & Burden Variance Work Center Scrap Labor & Burdens Reports Material Usage Variance Labor/Burden Variance Purchase Price Variance Scrap Reports

Adjustments, Exceptions, Year End Foreign Currency Revaluation Inventory Revaluation Product Cost Replacement Actual Cost Year End Update Shop Floor Transaction Posting PS Year-End History Update

Hands On Workshop

Appendices

G/L Account Index

Product Cost Query File

PRMS Actual Cost Definitions

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Contact us: MXB@Electriced.com 520-730-9956

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