OPM Cost Management application is used by cost accountants to capture and review the manufacturing costs incurred in their process manufacturing businesses.The Oracle Process Manufacturing Cost Management application is used by cost accountants to capture and review the manufacturing costs incurred in their process manufacturing businesses.
Establish raw material, resource, and overhead costs and run the Standard Cost Rollup process. View and verify the costs. If the costs are correct, then complete all inventory transactions for the period and run the Inventory Close and Cost Update processes in the final mode.
Run the OPM Accounting Preprocessor and Create Accounting process to create accounting entries in the OPM Subledger. Use the Create Accounting process again to export the Subledger Journals to Oracle General Ledger.
Record and verify transactions. Run the Actual Cost process, view, and verify the costs. If the costs are correct, then run the Inventory Close and Cost Update processes in the final mode.
Using OPM Costing, you can maintain different costs for an item at different Inventory Organizations. If several organizations have the same cost, the Cost Organization Association can be used to share the same cost across these organizations, by eliminating the need for maintaining duplicate data.
Target Audience
- Administrator
- Analyst
- End User
- Implementer
Prerequisties
Why Should I choose Lara Online Training?
-
- We provide Very in-depth course material with Real Time Scenarios for each topic with its Solutions for, OPM Cost Management Online Training.
- At Lara, we provide case studies in real-time applications with a professional explanation.
- We do Schedule the sessions based upon your comfort by our Highly Qualified Trainers and Real-time Experts.
- Class recordings are available immediately after the session for future reference.
- We do Normal Track, Fast Track, and Weekend Batches for OPM Cost Management Online Training.
- We assist you with cost Effective and Flexible Payment Schemes.
- At Lara, we provide Placement Assistance.
- We provide Assessment and Mock Interviews
Understanding OPM Cost Management
1
Using OPM Cost Management
2
Identifying the Cost Management Process Flow
3
Defining Cost Attributes
4
Defining Standard Costing
5
Defining Actual Costing
6
Defining Lot Costing
7
Performing Period-End Cost Processing
Setting Up Costing – Part 1
1
Identifying the Cost Management Process Flow
2
Reviewing Costing Setup
3
Defining Cost Types
4
Defining a Standard Cost Type
5
Defining an Actual Cost Type
Setting Up Costing – Part 2
1
Defining Cost Organization Associations
2
Defining Cost Factors
3
Defining Fiscal Policies
4
Defining Resources and Resource Costs
5
Describing Overheads
6
Defining Overhead Details
7
Defining Percentage Overhead Codes, Sources, and Targets
8
Defining Overhead Priorities and Variability's
Using Standard Costs – Part 1
1
Describing the Cost Management Process Flow
2
Describing Standard Cost
3
Describing the Standard Cost Flow
4
Defining Ingredient Costs
5
Defining Routings and Formulas
6
Defining Resources and Resource Cost
7
Defining Rollup Source Organizations
Using Standard Costs – Part 2
1
Running Cost Rollup
2
Deriving Product Cost
3
Viewing Product Costs
4
Viewing Formula Costs
5
Viewing Routing Costs
6
Viewing Overhead Costs
7
Describing Implementation Considerations
Using Actual Costs – Part 1
1
Describing the Cost Management Process Flow
2
Describing Actual Cost and the Actual Cost Flow
3
Describing Transactions in Actual Cost
4
Ensuring Accurate Actual Cost
5
Setting Up Material Cost Component Classes and Expense Allocations
6
Using Allocation Definition Types
7
Describing Raw Material Cost
8
Describing Cost Calculation Types
Using Actual Costs – Part 2
1
Describing Raw Material Cost Calculation Types
2
Describing Product Cost Calculation Types
3
Describing Overhead Costs
4
Describing Inventory Transfers
5
Running Actual Cost Process
6
Viewing Actual Costs
7
Adjusting Actual Costs
8
Describing Implementation Considerations
Using Lot Costs
1
Describing the Cost Management Process Flow
2
Describing Lot Cost
3
Describing the Lot Cost Flow
4
Describing Transactions in Lot Cost
5
Setting Up a Lot Cost Type
6
Setting Up Lot Cost Items
7
Describing Lot Cost Calculations and Running the Lot Cost Process
8
Viewing Lot Cost History and Adjusting Lot Costs
Performing Period-End Cost Processing
1
Describing the Cost Management Process Flow
2
Describing the Standard Cost Period-End Processing Flow
3
Describing the Actual Cost Period-End Processing Flow
4
Describing the Lot Cost Period-End Processing
Copying Costs
1
Describing the Cost Management Process Flow
2
Describing Copy Costs
3
Copying Item Costs
4
Copying Fixed Overheads
5
Modifying Existing Costs
6
Removing Existing Costs Before and During Copying
7
Copying Resource Costs
8
Copying Overhead Percentages and Source Organizations
Running Cost Management Reports
1
Running and Interpreting the Item Cost Detail Report
2
Running and Interpreting the Actual Cost Adjustment Report
3
Running and Interpreting the GL Expense Allocation Definition Report
4
Running and Interpreting the GL Expense Allocation Detail Report
5
Running and Interpreting the Cost Organization Association Report
6
Running and Interpreting the GL Item Cost Detail Report
7
Running and Interpreting the OPM Lot Cost Detail, and Lot Cost History Reports
8
Running and Interpreting the Inventory Valuation Report
Using Cost Management APIs
1
Introducing Cost Management APIs
2
Identifying Cost Management APIs
3
Calling the API
4
Performing Public API Validations
5
Using the Item Cost API
6
Using the Resource Cost API
7
Using the Allocation Definition API
8
Using the Overhead Details API
Understanding Sub-ledger Accounting and Processes
1
Describing Sub-ledger Accounting
2
Describing Application Accounting Definition Hierarchy
3
Using Multiple Sub-ledger Accounting Valuation for a Transaction
4
Describing Events
5
Describing Account Definitions
6
Running the OPM Accounting Pre-processor
7
Running Create Accounting
8
Transferring and Viewing GL Journal Entries
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It was great working and learning experience with krish on scripting issue. Communication with Management is very responsive and helpful and special thanks to krish for his patience.
sujith B
2023-05-18
Trainer explained well.completed all topics and helped in technical issues
Laxmi M
2023-01-29
Gulshan who is the trainer is very good at giving insights of the RPA and he is good on clearing all my doubts. The institute also helped me find the right trainer
Srivalli Anand Makkapati
2023-01-27
Thank you so much, Mr. Kishore, for the online IT training. That was a great experience with you. I have learned a lot from you. You are a very knowledgeable person and helpful in answering questions. I appreciate your replies to me promptly through text messages or email. I understand you overall.
Asif Jafri
2023-01-09
The explanation is excellent. Trainer explained with live examples and secenarios
Eswar vakada
2023-01-09
Excellent experience. Kishore is a valuable resource, Lara online training should be proud of him.
Nasir Javed
2023-01-09
that was a best practice and I have learned alot new things.
thank you kishore
Muscle Passion
2023-01-09
Thank you so much for give us such a great training I learn a lot and it adds value to my knowledge If got a job I should be able to do it without any trouble thanks.
Mohammad Zahid_Qureshi
2023-01-09
