Cost accounting


Cost accounting lets you collect data from various sources, such as the general ledger, subledgers, budgets, and statistical information. You can then analyze, summarize, and evaluate cost data to enable management to make the best possible decisions for the following task, amongst others:

  • Price updates
  • Budgets
  • Cost control

The Cost control workspace is a central point where managers who are responsible for controlling a cost object or a set of cost objects within a dimension or across dimensions (for example, cost centers and product groups) can access reports. The reports in the Cost control workspace are managed by cost accountants so that the layout and data that are used for reporting can be consistent across the organization.

Screenshot of the Cost control workspace.