Cost Center Accounting

What is cost center accounting and why could it be useful to do it? How does it work in Lawson M3, and how can the tools be used? Concept, overview, and a series of cases, e.g. cost center analyses, allocation and internal allocation based on resource driver, calculation of rates.

The objectives of this one-day course are to show the concept, tools and the possible usage of those tools in Lawson M3. This is achieved by referring to practical examples, and then illustrating them in Lawson M3. Reference is made to other material that documents the configuration, (e.g. Companion). The participants are expected to read this material, rather than the educator going through Lawson M3, parameter by parameter.

What Does This Course Cover?
This course aims to give you a general understanding of
· The cost center accounting process and functionality behind it
· The workflow in Lawson M3, together with implications, and recommendations

This course includes the following:
· Purpose and how to work with resource drivers, connection to product costing
· Budgeting with Lawson M3
· Cost centre analyses with flexed budget /usage
· How to calculate rates using information from Lawson M3 or other sources
· Internal allocation based on resource drivers
· Using calculated rates for product costing
· The workflow in Lawson M3 and financial impact of these requirements, demonstrated by a series of cases
· The final session reviews the practical use of the workflow covered, implications, and recommendations.

Who Should Attend?
A basic understanding of financial management, cost accounting, and production are prerequisites for this course.

To be allowed to attend this course you should have taken the following courses or otherwise achieved the equivalent knowledge:
· Financial Management Introduction
· Internal Accounting Introduction.

To benefit from this course we recommend that you have:
· 12 months experience as Financial Business Consultants
· More than 24 months experience as other Business Consultants.

CCA 1.00 Symbol Explanation

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