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FI Cost Accounting

(Please click on the hexagons for more information)


Process Input

  • Cost of Goods sold (COGS)
  • Provider costs
  • Project expenses
  • Distributed "Overhead Costs"

Process Output

  • Project ROI
  • Project Net Present Value
  • Gross profit earned on individual projects

Terminology

  • Cost Object
    A cost object is any segment or an element for which the cost information is desired. Typically there are three types of cost objects:
    • Output -> A service provided / a project executed / a product created
    • Operational -> A company, department, process
    • Business Relationship -> Costs for a supplier or a customer
  • Costs of Goods sold (COGS)
    Costs of goods sold in the service industry are principally payroll expenses
  • Project ROI
  • Net Present Value
  • Cost of Sales
  • Overhead costs
    Costs that occur to maintain business operations, commonly distributed across cost units  
  • Direct/indirect costs


Objectives:

   

Key­ Dimensions Timesheet Costs covered by ]po[

Time spent on a particular Customer  (global effort)

Time spent on internal activities

  • In its basic form, projects can be distinguished between
    • internal projects (Customer is the 'Internal company') or
    • external projects (Customer is a Company of type 'Client')

  • Some projects might be executed internally, whereby a customer is a internal department and the project is executed by a second internal department.
  • In all cases existing reports can be adjusted/extended easily to distinguish btw. internal/external effort.

Time spent on a particular Project

Time spent on a particular Product

  • Case 1: Each project or each group of projects (Program) is assigned to exactly one product
    Create Dynamic Field for object type "Project" and adjust / extend reports accordingly

  • Case 2:  Within one project several products will be delivered
    • Case 2a: Assignation product / sub-project is possible
      -> see Case 1
    • Case 2b: Assignation to product / sub-project not possible
      -> Add Dynfields to Material and assign to each task the according material 

Time spent on a particular task outside of a formal project

  • Option 1: Create a project for each Development Task / consider creating a container project

  • Option 2: Use the Helpdesk Module

Time spent by a group of employees (team) on a particular product or customer.

  • Case 1: Group of employees is a department
    Create departments in Cost Center Module and set relationship employee/department in HR Module - Portlet "Employee Information"

  • Case 2: Create a new ]po[ Group and adjust reports accordingly

Setting up Cost Accounting in ]po[

  • Step 1: Define relevant "Cost Objects" 
  • Step 2: Define frequency of measuring the costs 
  • Step 3: Define data input 
  • Step 4: Perform GAP Analysis to evaluate input data not yet managed with ]po[ 
  • Step 5: Create Forms, Portlets and Reports 
  • Step 6: Adjust Business processes / inform employees

Example:

Determine HR Profitability in projects:

Step 1 - Define relevant "Cost Objects":

  • Customer / Project Type 
  • Project

 Step 2 - Define frequency of measuring the costs:

  • Daily

Step 3: Define data input

  • Hourly internal cost of employee
  • Sales price Consulting Hour 

Step 4: Perform GAP Analysis to evaluate input data not yet managed with ]po[

  • Missing portlets to conveniently manage hourly rates 

Step 5 - Create Forms, Portlets and Reports in ]po[

  • Create Portlet to manage default hourly rates for employees based on cost objects.

    Portlet on user page to set default hourly rate:



    Portlet on project page to overwrite default hourly rate:

    Hourly Rate (Project Page)
  •   Create report

    Report Project Profit

 



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