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    Project Costing

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    Paulo
    This document provides an overview and agenda for a presentation on Oracle Project Costing. It discusses key aspects of Oracle Project Costing including its ability to track detailed project costs, integrate with other Oracle modules, define project classes, collect and manage costs through the costing process flow, set up prerequisites, define projects and tasks, use burden schedules for costing, integrate budgets, and create and track projects, tasks, budgets, costs and accounting entries.

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    Project Costing

    Uploaded by

    Paulo
    399 views30 pages
    This document provides an overview and agenda for a presentation on Oracle Project Costing. It discusses key aspects of Oracle Project Costing including its ability to track detailed project costs, integrate with other Oracle modules, define project classes, collect and manage costs through the costing process flow, set up prerequisites, define projects and tasks, use burden schedules for costing, integrate budgets, and create and track projects, tasks, budgets, costs and accounting entries.

    Original Description:

    Project Costing Overview

    Original Title

    268717476 67866 Project Costing PPT Pptx

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    This document provides an overview and agenda for a presentation on Oracle Project Costing. It discusses key aspects of Oracle Project Costing including its ability to track detailed project costs, integrate with other Oracle modules, define project classes, collect and manage costs through the costing process flow, set up prerequisites, define projects and tasks, use burden schedules for costing, integrate budgets, and create and track projects, tasks, budgets, costs and accounting entries.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    399 views30 pages

    Project Costing

    Uploaded by

    Paulo
    This document provides an overview and agenda for a presentation on Oracle Project Costing. It discusses key aspects of Oracle Project Costing including its ability to track detailed project costs, integrate with other Oracle modules, define project classes, collect and manage costs through the costing process flow, set up prerequisites, define projects and tasks, use burden schedules for costing, integrate budgets, and create and track projects, tasks, budgets, costs and accounting entries.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 30
    At a glance
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    Some of the key takeaways from the document are that Oracle Project Costing allows organizations to effectively manage projects and activities by providing timely and detailed cost information to monitor project performance. It also helps track and account for the total costs of running a business. Oracle Project Costing integrates with other Oracle modules like Purchasing, Payables, Time and Labor etc to import and export data.

    Oracle Project Costing integrates with other Oracle modules like Purchasing, Time and Labor, Payables, Project Manufacturing, Asset Tracking, Internet Expenses, iProcurement etc. It imports data from these modules and sends data to Oracle General Ledger, Assets, Subledger Accounting etc.

    The different types of projects that can be created in Oracle Project Costing are Indirect projects, Capital projects, Contract projects. It allows tracking of overheads costs like Research and Development, capital assets costs, retirement adjustment of assets and tracking of costs, revenue and billing of customers.

    R12 General Review on Oracle Project Costing

    Presented by : Shanmugaraj.S

    Agenda

    Oracle Project Costing Overview

    Integration with other modules

    Project Classes

    Project Costing Process Flow

    Collect and Manage Costs

    Project Costing Pre-requisites

    Projects & Task Overview

    Burden Schedules for costing

    Budgetary control & Budget integration

    Project & Task Creation

    Costed & Uncosted Transaction Flow

    Oracle Project Costing Overview:

    Oracle Project Costing is an integrated project-based cost collection, management, and


    accounting solution that enables organizations to effectively manage projects and activities.
    Project managers are empowered with timely, detailed cost
    information to monitor project performance, while financial managers can track and account
    for the total costs of running their business

    Detailed cost information to monitor project performance


    Can track and account for the total costs of running business

    Integration with other modules


    Oracle Project Costing imports
    data from these Application
    Oracle Project Costing sends
    data to these Application

    Oracle Purchasing
    Oracle Payables
    Oracle Time & Labor

    Oracle Assets

    Oracle Project Manufacturing

    Oracle General Ledger

    Oracle Asset Tracking

    Oracle Sub ledger Accounting


    Oracle Project Costing

    Oracle Internet Exp


    Oracle iProcurement

    Project Classes
    Collect costs for all project classes
    Indirect

    Track Overheads
    Cost Such as
    Research and
    Development

    Capital

    Track capital
    assets costs and
    retirement
    adjustment asset
    costs

    Contract

    Track costs,
    revenue, and bill
    customer

    Project Costing Process Flow (Costed)

    Project Costing Process Flow (Uncosted)


    Enter and Approve Expenditure

    Import Transactions

    PRC: Distribute Labor Cost ( Distribute cost concurrent)


    PRC: Generate Cost Accounting Events
    PRC: Create Accounting
    PRC: Transfer Journal Entries to GL (Optional)
    Journal Import
    (Oracle General Ledger)

    Collect and Manage Costs


    Costs Types

    Oracle Project
    Costing Features

    Straight Time

    Adjustments

    Over Time

    Cross Charge

    Expenses Report
    Supplier Invoices

    Collect Cost

    Manage Costs

    Allocation

    Usages
    Inventory
    Burden Transaction
    Work In Process
    Misc. Transaction

    Burdening

    Asset Capitalization
    Track Actual & Committed Cost

    Pre-requisites

    Org Level
    Organization Classification
    Organization Hierarchy

    Project Based Setups


    Implementation Options
    GL period
    PA period
    Resource List
    Expenditure Categories
    Revenue Categories
    Expenditure Types
    Project Type
    Auto Accounting

    Overview of project and Task


    Project
    Top
    Task
    Middle
    Task
    Task 1.1
    Task 1.1.1
    Lowest
    Task

    WBS

    Task 1

    Work Plan Management

    Task 2

    Task 1.2

    Task 2.1

    Task 2.2.1

    A Project is a primary unit of work that can be broken


    down into one or more Tasks

    Task 2.2

    Task 2.2.2

    The Work Plan


    management Functionality
    helps project manager &
    Team members deliver
    project on time.
    Financial Management
    The Financial
    management Functionality
    helps financial
    administrators &
    managers track billing,
    cost , budgets, and other
    financial information for
    projects

    Burden Schedules for costing


    Raw cost = Quantity x Rate
    Burden Cost = Raw cost x Burden Multiplier
    Burdened cost = Raw cost + Burden cost
    Burden cost (also referred to as indirect
    costs) allocates over head costs to project
    to provide a more accurate view of total
    cost

    Budgetary control & Budget integration


    Budget
    integration
    Top Down integration budget:
    Generate encumbrance journal entries
    for project budget to reserve funds against
    a GL funding budget

    Budgetary control
    validation

    Purchasing

    Payables

    Enforce budgetary
    control against a GL
    budget and against a
    project budget

    Project Costing

    General
    Ledger

    Bottom up integration budget:


    Generate budget journal entries for
    Project Budget to post to an
    organizational level GL budget
    Non integrated budget with budgetary
    Controls:
    Use budgetary control features without
    sending budget accounting entries to GL

    Project & Task Creation

    Budget Creation

    Purchase Requisition against a Project

    Purchase Order Auto-Create

    Purchase Order Auto-Create

    Deriving Commitment Cost

    Project Status Inquiry

    Receipt against PO

    Interfacing Costs to project

    Project Expenditure Inquiry

    Pre-Approved Expenditure Entry

    Distributing Costs

    Cost Exception Report

    Generating Cost Accounting Events

    Cost Accounting Events report

    Create Accounting

    Posting in GL

    Thank you

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