on 07-23-2007 8:08 AM
HI
I have only done FI part. wnt to learn smething abt Co
Can you tell me wht do u mean by -
1 Cost element
2 Cost Center
3 Cost Center Accounting
4 Profit Center
5 Profit Center Accounting.
6 wht is the difference between Cost center & Profit Center?
Is there any concept of FI-CO integration? If yes how is it done?
Thanks
<b>Cost element</b> It tells you on what item u r incurring cost Ex salary,rent .
<b>Cost Center</b> It defines a location of cost.It tells you where u r incurring cost.Ex canteen dept, paint shop, maintenance dept.
<b>Cost center A/Cing</b> Cost center a/cing makes it possible to analyze cost accordibg to where they were occurred in organization
<b>Profit center</b> It is an organizational sub-unit that bears responsibility for revenues as well as cost.
<b>Profit center A/Cing</b> it is used to know
product wise profitability
Location wise profitability(Factory, sales,Branch)
Function wise profitability(R&D function, sales function)
<b>Difference</b>
Major difference is cost center collects only cost profit center collects cost as well as revenue and give u the profit.
<b>Intergration</b> data flow form FI to CO through G/L account which are treated as cost elements in CO
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Hi provide your personal mail id
i will send detailed screen shots so that you can understand better
regards
prasad
accenture - hyd
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