About Apex InfoTech Information Services Products Consulting Online Courses Certifications Course Schedule Reserve your seat Search Apex InfoTech Home Page
Course ScheduleSearch by Course NumberPrint this documentEmail this documentRegister for this course
Costing and Inventory Valuation in Microsoft Dynamics AX 2009

Course 50191 : 1 day; Instructor-Led

Introduction

The one-day Microsoft Dynamics AX 2009 Inventory Costing and Valuation course introduces inventory costing and valuation functionality. The course covers Fundamental Costing Issue and Basic Cost Flow in Microsoft Dynamics AX 2009, Inventory models Used for Closing, Standard Cost Framework, Marking functionality, Closing Inventory, and Inventory Costing and Adjustment Reports.

 

Audience
This course is for customers who want to learn the features and functions of inventory costing and valuation in Microsoft Dynamics AX 2009.
The course is targeted toward sales and purchase managers, salespeople, purchasers, and others in an organization that are responsible for the setup and administration of inventory costing and valuation functionality.

 

At Course Completion
After completing this course, students will be able to:
  • Understand the fundamental costing issue in Microsoft Dynamics AX 2009.
  • Understand basic cost flow in Microsoft Dynamics AX using standard cost, fixed receipt price and running average methodology.
  • Use the Financial inventory parameter and understand its influence on item costing.
  • Calculate estimated values before closing.
  • Use the Include physical value parameter and understand how it effects item costing.
  • Use the different inventory models available in Microsoft Dynamics AX 2009 to close inventory and understand their effect on item costing.
  • Understand the concept of the standard cost framework.
  • Perform necessary setup needed for standard cost.
  • Understand and use cost breakdown feature.
  • Use indirect costs and calculation formulas used for costing versions.
  • Use costing sheet to organize and structure the cost consumption.
  • Understand and use costing versions.
  • Identify variances between the production actual costs and the standard cost.
  • Use marking functionality in Microsoft Dynamics AX 2009.
  • Mark sales orders against purchase order lots.
  • Understand how dimensions influence marking process.
  • Understand and use the rules of the item’s cost price calculation.
  • Mark sales orders against purchase orders across dimensions and warnings.
  • Mark complete lots between sales orders and purchase orders.
  • Perform pre-closing actions before running inventory close.
  • Perform an inventory closing.
  • Perform an inventory recalculation.
  • Perform manual inventory adjustments.
  • Perform inventory close cancellation using batch framework.
  • Run the Adjustment report.
  • Run the Fixed receipt deviation report.
  • Run the Physical inventory value by item group report.
  • Run the Physical inventory value by dimension group report.
  • Run standard cost reports.

Prerequisites
Before attending this course, students must have:
  • General knowledge of Microsoft Windows.
  • The ability to use Microsoft Dynamics AX 2009 for basic order processing .
In addition, students should have:
  • Basic knowledge of trade and logistics and bill of materials in Microsoft Dynamics AX 2009.
  • Basic knowledge of inventory management concepts.
 

Course Outline

Module 1: Introduction

This module explains fundamental costing issue and basic cost flow in Microsoft Dynamics AX 2009. It discusses financial inventory parameters as a way to calculate the cost price on groups of transactions for specific dimensions within the inventory dimension group.
This module also discusses estimated values of the items before closing, and introduces the calculation formula for the running average cost price. Additionally, this module explains the influence of the Include physical value parameter on running average cost price calculation.
Lessons
  • Fundamental Costing Issue
  • Financial Inventory Parameter
  • Estimated Values Before Closing
  • Packing Slip Update
Lab : Costing with the Include Physical Value Parameter
After completing this module, students will be able to:
  • Understand the fundamental costing issue.
  • Use the Financial inventory parameter and calculate cost price on groups of transactions for specific dimension.
  • Calculate running average cost price for items.
  • Calculate running average cost price with and without the Include physical value parameter.

Module 2: Inventory Models Used for Closing
This module discusses five main inventory models used for inventory closing. The examples following each inventory model explain in what way issues are settled against the receipts. Weighted average and weighted average date inventory models are discussed,using both direct and summarized settlements.Lessons
  • FIFO
  • LIFO
  • LIFO Date
  • Weighted average
  • Weighted average date
Lab : Inventory ModelsModule 3: Standard Cost FrameworkThis module introduces the concept of the Standard cost framework, discusses necessary setup that is required for using standard cost inventory model, and introduces cost breakdown feature and it's purpose. This module also focuses on indirect costs and calculation formulas used for costing versions, and discusses costing versions and production variances that appear between the production actual costs and the standard cost.Lessons
  • Set Up Standard Cost Framework
  • Cost Breakdown
  • Costing Sheet
  • Indirect Cost
  • Costing Versions
  • Production Variances
  • Variance Analysis Statement
Lab : Standard Cost
Lab : Variance Analysis Statement
After completing this module, students will be able to:
  • Understand the concept of standard cost framework.
  • Understand and the cost breakdown feature.
  • Create and use costing sheet.
  • Calculate indirect costs.
  • Create and update costing versions.
  • Calculate different types of production variances.

Module 4: Marking
This module introduces marking functionality and explains in what cases it is necessary to use marking to marry receipt and issues.Lessons
  • Marking a Sales Order Against a Purchase Order Lot
  • Dimensions and Marking
  • Cost Price Calculation
  • Marking Form
  • Marking Across Dimensions and Warnings
  • Marking Complete Lots Between Sales Orders and Purchase Orders

Lab : Marking

Module 5: Closing Inventory
This module discusses inventory closing and adjustment, that determines how you value your inventory and how adjustments can be made to inventory value. This module also examines the inventory closing process, from pre-closing checks to viewing item settlements and how to make adjustments before and after inventory closing is performed.Lessons

  • Pre-closing Actions
  • Inventory Closing Procedure
  • Inventory Recalculation
  • Manual Inventory Adjustments
  • Inventory Close Cancellation
Lab : Adjust TransactionsLab : Recalculation
After completing this module, students will be able to:
  • Perform pre-closing tasks to make sure of as problem-free closing as possible.
  • Perform an inventory closing and recalculation.
  • Make manual adjustments to item transactions and on hand.

Module 6: Inventory Costing and Adjustment Reports
This module introduces inventory costing and adjustment reports available in Microsoft Dynamics AX 2009.Lessons
  • Adjustment Report
  • Fixed Receipt Deviation Report
  • Physical Inventory by Item Group
  • Physical Inventory by Dimension Group
  • Inventory value Statement
Lab : Adjustment Settlement
After completing this module, students will be able to:
  • Run different types of inventory closing and adjustment reports.

For more information or to give feedback, send e-mail to info@OneApex.com or call 949-597-2100