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Cost Accounting in Microsoft Dynamics AX 2009

Course 50190 : 1 day; Instructor-Led

Introduction

This two-day instructor-led course provides the students with the knowledge of the Cost accounting functionality available in Microsoft Dynamics AX. Students are shown how to set up the Cost accounting module and create cost and service transactions, and how to set up and work with calculations and budgets. Students completing this course can acquire basic knowledge of the Cost accounting module.

 

Audience
This course is intended for individuals who are working in an implementation team, administrating, or using the Cost accounting module in Microsoft Dynamics AX 2009. This audience typically includes individuals whose task is to assess customers’ business needs and advise them on the use, configuration, and customization of cost accounting in the application.
Additionally, individuals responsible for training or supporting Microsoft Dynamics AX also benefit from this course.

 

At Course Completion
After completing this course, students will be able to:
  • Set up the Cost accounting module in Microsoft Dynamics AX.
  • Create cost and service categories.
  • Create cost and service transactions and accruals.
  • Set up and use calculations.
  • Run Cost accounting reports.
  • Inquire about cost, service, and calculation transactions.
  • Run periodic activities.
  • Use standard and advanced budgeting functionality.

Prerequisites
Before attending this course, students must have:
  • Basic knowledge of accounting principles.
  • Experience in navigating Microsoft Dynamics AX 2009.
In addition, it is recommended, but not required, that students have completed:
  • Introduction to Microsoft Dynamics AX 2009 course.
  • Finance I in Microsoft Dynamics AX 2009 course.
  • Finance II in Microsoft Dynamics AX 2009 course.
 

Course Outline

Module 1: Introduction to Cost Accounting
This module defines Cost accounting in Microsoft Dynamics AX 2009 and explains how Cost accounting is integrated to other Microsoft Dynamics AX modules.Lessons

  • Cost Accounting in Microsoft Dynamics AX 2009
  • Cost Accounting Integrated with Other Modules
After completing this module, students will be able to:
  • Understand the types of cost analysis.
  • Understand the allocation schemes.
  • Understand how to plan and calculate future costs.
  • Understand how Cost accounting is integrated with the General ledger, Production, and Project modules through cost and service transactions.
Module 2: Setup and Master Data Parameters
This module shows students the minimum setup necessary to run the Cost accounting module. Because Microsoft Dynamics AX is a highly integrated system, the setup performed is important for the integration of the Cost accounting to the General ledger, Production, and Project modules.Lessons
  • Configure Cost Accounting Parameters
  • Create Cost and Service Categories
  • Set Up Dimensions
  • Create Journal Names
  • Set Up Dimension Posting Control
  • Create a Line Structure
  • Create a Hierarchy
Lab : Create Cost and Service Categories
Lab : Create Journal Names
Lab : Create a Line Structure
Lab : Create a Hierarchy
After completing this module, students will be able to:
  • Configure Cost accounting parameters.
  • Create cost and service categories.
  • Identify the difference between primary and secondary cost categories.
  • Set up cost splitting, cost rates, and dimensions.
  • Identify the role of dimensions in Microsoft Dynamics AX.
  • Create journal names and journal texts.
  • Create and maintain dimensions.
  • Set up dimension posting control.
  • Create a line structure and a hierarchy.

Module 3: Transactions and Accruals

This module focuses on transactions and accruals in Cost accounting. Students will discover how to enter cost and service transactions or accruals in journals and also how to post these transactions. The transaction entry forms are discussed in addition to the different types of entries that can be created.Lessons

  • Create Cost Transactions
  • Create Service Transactions
  • Create Accruals
Lab : Create Cost TransactionsLab : Create Service TransactionsLab : Create Accruals
After completing this module, students will be able to:
  • Create cost transactions.
  • Create service transactions.
  • Set up journals for posting of cost and service transactions.
  • Create accruals and find and delete transactions.

Module 4: Calculation
This module focuses on the functionality of calculation in the Cost accounting module. Students will discover how to use different calculation methods for the distribution or allocation of costs from one dimension to other dimensions and how to calculate cost rates.Lessons
  • Create a Calculation Version
  • Methods of Calculation
  • Create a Reference Table
  • Create a Cost Distribution
  • Create a Service Distribution
  • Create an Allocation
  • Create a Cost Rate Calculation
Lab : Create a Calculation Version
Lab : Create a Reference Table
Lab : Create a Cost Distribution
Lab : Create a Service Distribution
Lab : Create an Allocation
Lab : Create a Cost Rate Calculation
After completing this module, students will be able to:
  • Create a calculation version.
  • Identify the difference between the methods of calculation.
  • Create a reference table.
  • Create a cost distribution.
  • Create a service distribution.
  • Use different types of allocations.
  • Create a cost rate calculation.

Module 5: Reports, Inquiries, and Periodic Activities
This module explores the different reports, inquiries, and periodic activities available in the Cost accounting module. Students are shown how to run the basic Cost accounting reports, especially an Expense Distribution Sheet (EDS), and how to use periodic activities for period and special calculation.Lessons
  • Create and Run an EDS Report
  • Inquire About Transactions
  • Run Periodic Activities
Lab : Create and Run EDS – Dimension StatementLab : Create and Run EDS – Cost StatementLab : Recalculate Cost Splitting
After completing this module, students will be able to:
  • Create and run an expense distribution sheet.
  • Understand why to use the base data, reconciliation, and calculation reports.
  • Inquire about cost, service, and calculation transactions.
  • Use periodic activities.
  • Recalculate cost splitting.

Module 6: Budgeting
This module focuses on the standard budgeting functionality of the Cost accounting module. Students are shown how to create budget models and also how to enter budget costs and services into the budget. They are also shown how to use sub models and where to view an overview of all budget costs.Lessons
  • Create Budget Models
  • Budget Overview Form
  • Create a Cost and Service Budget
Lab : Create Budget ModelsLab : Create a Cost Budget
After completing this module, students will be able to:
  • Create different types of budget models.
  • Use the Budget overview form.
  • Create a cost and service budget.
  • Use budget sub models.

Module 7: Flexible Budget
This module focuses on the advanced budgeting functionality of the Cost accounting module, where students can make plan calculations. Students are shown how to create and set up a flexible budget model, how to enter plan values in the budget, how to create a plan calculation, and how to calculate plan cost balances.Lessons
  • Create a Flexible Budget Model
  • Create a Flexible Plan
Lab : Create a Flexible Budget ModelLab : Create a Flexible Plan
After completing this module, students will be able to:
  • Create a budget model of the flexible budget type.
  • Set up a flexible budget and enter plan values in this budget.
  • Perform plan calculation.
  • Work with different value types.

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