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Process: Product Costing
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Responsibility area: Internal Control Monitor 

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Risk

Wrong fixed cost absorption in inventory, plant costing model do not comply with group rules  

Objective

Service Unit Management accounting control plant costing model yearly update

Process description

Costing model is the document which explains the way fixed costs and depreciations are allocated to product costing in order to determine the cost of sales and inventory valuation. FRA are in charge of preparing the costing model based on the budget using the respective template of WP2 or provided by SU MAC (e.g. extract of the cycle structure for PF2).

The instruction notes to complete the template of WP2, under FRA responsibility, are below:

Costing Model - FRA preparation

FRA asks for the validation of the GCCO.

Control description

Service Unit Management Accounting reviews through a checklist, costing models prepared by each Finance responsible assigned (FRA)of his/her zone and the respective update in SAP done by Service Unit Management accounting. SU MAC is making sure that costing model has been reviewed and validated by the GCCO for each plant in the scope of internal control

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Scope
WP2 / PF2
Frequency

Due date : January

Control owner

Service Unit Management accounting - Costing user by region

References


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titleSAP Transactions

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operatorAND
cqllabel = "op_044" and space = "SAPCost"
labelsmaintain_assessment_cycles

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titleCosting rules

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operatorAND
cqllabel = "op_044" and space = "CostFAQ"
labelsmaintain_assessment_cycles

Control evidences

IAC 01.01 Validation of costing model by SU MAC.xlsx

  • Checklist
  • Costing model - Provided by FRA
  • Validation from GCCO - Provided by FRA
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Costing Model - FRA preparation  <<

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>> OP.013 & OP.028



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  Guideline  

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titleWP2 Process

 

Prerequisite

  WP1Image Removed WorldwideImage Removed
Info

Excerpt

IAC controls

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Product Costing

Role: Supervise the product costing

previous Operation(s): OP104

Tip

Rules & Glossary: Costing - Rules Costing - Glossary OP.044 - I validate the accuracy of the costing model process

RCOM reviews through a checklist costing models prepared by each FRA in his region.

RCOM checks the existence of validation from GCCO and plant manager.

Guideline

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titleI download the last version of the file
 
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Download the file IAC 01.01
Download the file IAC 01.01
  
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titleI review costing models prepared by each FRA
 
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 I review costing models prepared by each FRA
 I review costing models prepared by each FRA
  
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titleI send the costing model for upload in SAP
 
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 I send the costing model for upload in SAP
 I send the costing model for upload in SAP
  
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titleI receive the confirmation when the file is uploaded in SAP
 I am informed once the standard rates are calculated in the system  
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titleI compare the costing model with SAP
 
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 I compare the costing model with SAP
 I compare the costing model with SAP
  
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titleI inform the requester the the file has been validated and uploaded in the system
 I inform the requester that the standard rates are in the system  
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titleI complete and save the check list
 
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 I complete and save the check list
 I complete and save the check list

Reference

 

Next Operation: OP13, OP28

 

  
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titlePF2 Process
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titleI display the last version of the the cycles

Use transaction ZWFAR600 to extract the cycles for the year that is ending.

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Choose the following variant "COSTING MODEL"

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Updating the cycles and start date

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Cycle should be completed like this:

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  • FO01CCCC*: for COPA cycles
  • CHEFCCCC*: for Assessment cycles

Start date, to be completed with the full year that is just ending

And now, transaction can be executed to get the following view

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Below see the details of this report:

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ZWFAR600 - Cycle master data extraction
ZWFAR600 - Cycle master data extraction
 

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titleI extract all cycles to Excel

When transction ZWFAR600 is executed and you have the list of all cycles, it is time to extract to excel.

1) Go to List → Export → Spreadsheet

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This excel document will be the COSTING MODEL of your company.

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titleI send the costing model to Finance Responsible Assigned (FRA)
1) Send through Solvay One the COSTING MODEL extracted in previous step to the FRA/Controller to be used in the review of the cycles for the new year
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titleI receive the feedback from FRA with the cycle changes for the new year

After the review, I receive from FRA the cycle changes for the new year.

  • With the changes highlighted in the COSTING MODEL
  • Or, changes detailed in the freshdesk
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titleI update cycles in SAP

Depending on the type of cycle, I use KSU2, KEU2, KSV2 

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KSU2 - Change Actual Assessment Cycle
KSU2 - Change Actual Assessment Cycle

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KEU2 - Change actual assessment to CO-PA
KEU2 - Change actual assessment to CO-PA

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KSV2 - Change Actual Distribution Cycle
KSV2 - Change Actual Distribution Cycle

 

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titleI inform the requester the cycles have been update in SAP
 I inform FRA/Controller that the cycles are updated in SAP  




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