SAP CO - Product Costing S4HANA from Udemy

What's inside

Learning objectives

Introduction to product costing
Concept of quantity structure
Bill of materials
Activity types
Routing
Work centers
Creation of material in mm module
Creation of cost elements in s4hana
Creation of cost centers in s4hana
Concepts of mm price control
Impact of standard costing on the material price and valuation

Activity type price planning
Cost element input planning
Concept and configuration of overhead management in product costing
Concept of costing sheet and the configuration
Introduction to costing variant and the configuration
Configuration of routing and work centers in pp module
Purpose and configuration of cost component structure
Execution of standard costing run
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Introduction to product costing
Concept of quantity structure
Bill of materials
Activity types
Routing
Work centers
Creation of material in mm module
Creation of cost elements in s4hana
Creation of cost centers in s4hana
Concepts of mm price control
Impact of standard costing on the material price and valuation
Activity type price planning
Cost element input planning
Concept and configuration of overhead management in product costing
Concept of costing sheet and the configuration
Introduction to costing variant and the configuration
Configuration of routing and work centers in pp module
Purpose and configuration of cost component structure
Execution of standard costing run
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Show less

Syllabus

The concept of Product Costing with a real-time scenario

Introduction to the course content and the target audience and the learning from the course.

This lecture introduces you to the concept of Product Costing explaining the quantity structure.

This lecture introduces to the real-time example to configure Standard Costing in SAP S4HANA

Introduction to Product Costing

This section explains the concept of Pricing Control and how materials are priced using Standard Price, Planned Price and Moving Average Price

Creation of Material Master data and Pricing Controls

Material Master and Pricing Control

This section explains the material master required for product costing, like Bill of Materials, Activities and Routing

Introduction to Bill of Materials, Activities, Routing and Overheads

Introduction to Activity type price planning

Configuration of Bill of Materials

Configuration for Activity Types and creation of secondary CE in S4HANA

Configuration for cost element input planning

Configuration for Activity type price planning

Activity price calculation

BoM, Activities and Routing

This section provides a detailed view on what kind of overheads are present in manufacturing and how they are dealt in standard costing

Configuration for overheads

Configuration of overhead key and overhead group

Overheads in costing

This section explains about the purpose and configuration of costing sheet in standard costing

Introduction to Costing Sheet

Configuration of Costing Sheet

Costing Sheet

This section explains about the purpose and configuration of costing variant in standard costing

Introduction to Costing Variant

Configuration of Costing Variant

Costing Variant

This section describes the routing, work centers and the configuration required for the same.

Introduction to Routing and Work Centers

Configuration for routing and work centers

Routing and Work Centers

This explains the concept and the purpose of Cost Component Structure and its purpose for COGS splitting

Introduction and configuration of cost component structure

Cost Component Structure

This section shows how to run the standard costing and the steps involved in it.

Steps in standard costing run

Execution of Cost estimation run

Marking and Releasing the cost

Standard Costing Execution

Bonus Session

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Covers the configuration of routing and work centers in the PP module, which is essential for professionals working with production planning in SAP

Explores the concept and configuration of overhead management in product costing, which is a critical aspect of accurate cost calculation in SAP CO

Focuses on the latest S4HANA version, ensuring learners gain skills relevant to current SAP implementations and upgrades, which is valuable for career advancement

Requires learners to understand the creation of material master data, which may require learners to first familiarize themselves with SAP MM (Materials Management)

Teaches the configuration of the Costing Sheet, which is a core component for defining how costs are allocated and calculated in SAP CO

Explains the impact of standard costing on material price and valuation, which is crucial for understanding financial reporting and inventory management in SAP

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in SAP CO - Product Costing S4HANA with these activities:

Review Cost Accounting Fundamentals

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Reinforce your understanding of basic cost accounting principles, which are essential for grasping the complexities of SAP CO Product Costing.

Browse courses on Cost Accounting

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Review key concepts like direct costs, indirect costs, and cost allocation methods.
Practice applying these concepts through sample problems and exercises.

Read 'SAP S/4HANA Finance: An Introduction'

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Gain a broader understanding of SAP S/4HANA Finance to better contextualize product costing within the overall financial landscape.

View Putting Knowledge to Work on Amazon

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Read the chapters related to cost management and controlling.
Take notes on key concepts and how they relate to product costing.

Practice Costing Run Scenarios in a Sandbox

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Solidify your understanding of the standard costing run process by practicing different scenarios in a sandbox environment.

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Set up a sandbox environment with sample master data.
Execute standard costing runs with varying parameters and analyze the results.
Troubleshoot common errors and issues that may arise during the costing run.

Four other activities

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Document a Product Costing Configuration

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Deepen your understanding by documenting a specific product costing configuration scenario, including the steps, settings, and rationale behind each choice.

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Choose a specific product costing scenario to document.
Document each configuration step with screenshots and explanations.
Explain the rationale behind each configuration choice and its impact on the final cost.

Study 'Configuring SAP S/4HANA Finance'

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Enhance your configuration skills by studying a dedicated guide on configuring SAP S/4HANA Finance, with a focus on product costing.

View Putting Knowledge to Work on Amazon

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Focus on the chapters related to product costing configuration.
Take notes on the different configuration options and their implications.

Answer Questions on SAP CO Forums

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Reinforce your knowledge by helping others learn SAP CO Product Costing through answering questions on online forums.

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Find relevant SAP CO forums and monitor for questions related to product costing.
Provide clear and concise answers to the questions, drawing on your knowledge and experience.
Engage in discussions and provide further clarification as needed.

Develop a Product Costing Case Study

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Apply your knowledge by developing a comprehensive product costing case study for a specific industry or company.

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Choose a specific industry or company to focus on.
Gather relevant data on the company's products, processes, and costs.
Develop a detailed product costing model using SAP CO Product Costing.
Analyze the results and provide insights on cost optimization and profitability improvement.

Career center

Learners who complete SAP CO - Product Costing S4HANA will develop knowledge and skills that may be useful to these careers:

Cost Accountant

A Cost Accountant analyzes a company’s expenses, especially production costs. They compile data, track costs, and examine variances between actual and planned costs. This course provides a deep dive into product costing, and is highly relevant for a Cost Accountant looking to improve their understanding of standard costing, overhead management, and costing sheets. This course is especially helpful with its real-time scenario, which provides an insight into real-world costing practices using SAP S4HANA that are critical for a Cost Accountant. Moreover, the course includes material master data, bill of materials, and routing configuration, all common workflows for a Cost Accountant.

See salaries and explore the career path for Cost Accountant

SAP Consultant

An SAP Consultant specializes in advising and implementing SAP software solutions. This course is directly relevant to an SAP Consultant specializing in product costing. This role requires a strong understanding of product costing concepts, configuration, and execution in SAP S4HANA, all of which form the core of this course. Specifically, the course helps develop experience related to the configuration of routings, work centers, and costing variants, which are critical for a successful SAP Consultant. Furthermore, this course’s focus on real-time scenarios and hands-on configuration make it extremely beneficial for consultants, who often face a variety of practical challenges.

See salaries and explore the career path for SAP Consultant

Management Accountant

A Management Accountant provides financial data and insight to internal stakeholders to aid decision making. This course directly addresses the knowledge needs of a Management Accountant. The processes and concepts of product costing are a critical function of a Management Accountant's role. This course helps by introducing standard costing, overhead management, and costing sheet configuration. In particular, the course’s real-time scenario will be beneficial for a Management Accountant looking to improve their practical skills.

See salaries and explore the career path for Management Accountant

Production Planner

A Production Planner is responsible for creating production schedules, coordinating resources, and overseeing manufacturing processes. A grasp of product costing helps the Production Planner understand the financial implications of different production strategies. This course helps build a foundation in standard costing, cost component structures, and the impact of activities and routings on product costs. In particular, the course's focus on bill of materials, routing, and work center configurations are highly beneficial, as these are critical elements that a Production Planner would interact with daily.

See salaries and explore the career path for Production Planner

Manufacturing Analyst

A Manufacturing Analyst examines production data to identify areas for improvement. They analyze costs, track efficiency, and provide reports to management. A Manufacturing Analyst benefits from an appreciation of product costing concepts. The course helps build a foundation in standard costing, overhead management, costing sheet configuration, and cost component structure, which allows a Manufacturing Analyst to understand how production costs are determined. Furthermore, the ability to configure routings and work centers as taught in this course may be beneficial for a Manufacturing Analyst when evaluating production process efficiency.

See salaries and explore the career path for Manufacturing Analyst

Supply Chain Analyst

A Supply Chain Analyst optimizes the flow of goods and services. Understanding product costs assists in assessing the financial implications of different supply chain strategies and their impact on the overall cost of the products. The course may be helpful in highlighting the importance of materials management in product costing, including bill of materials. The course’s real-time scenario may also provide some insight into how standard costing can affect pricing decisions in the supply chain. This course may be useful for a Supply Chain Analyst.

See salaries and explore the career path for Supply Chain Analyst

Financial Analyst

A Financial Analyst provides financial insights and analysis to support decision-making. While not a core function, understanding product costing helps a Financial Analyst better evaluate a company's financial statements, and appreciate how costs affect overall profitability. The course helps build a basic level of knowledge of cost elements, cost centers, and standard costing. The ability to interpret cost component structures, as explored in this course, may enhance a Financial Analyst's understanding of cost breakdowns and profit margins. This course may be helpful for a Financial Analyst.

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Business Systems Analyst

A Business Systems Analyst bridges the gap between business needs and technology solutions. For those working with SAP systems, understanding how product costing is configured and executed provides an advantage. This course, which focuses on product costing in SAP S4HANA, will be relevant. The course’s focus on configuration and process flows helps a Business Systems Analyst communicate more effectively with SAP consultants and the business users. This course may be helpful for a Business Systems Analyst.

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Inventory Manager

An Inventory Manager oversees stock levels of goods and materials. While this role does not directly engage with product costing, the inventory manager's work can impact these costs. This course introduces material master data and pricing controls to demonstrate how material prices are determined in product costing. This is useful for an inventory manager to appreciate the link between inventory management and overall product costs. The real-time scenario using SAP S4HANA may also provide insights into practical costing-related inventory management. This course may be helpful for an Inventory Manager.

See salaries and explore the career path for Inventory Manager

Operations Manager

An Operations Manager oversees the daily activities of a company, ensuring efficiency annd productivity. For a manufacturing business, cost is a significant consideration. The course’s focus on the practical aspects of product costing such as bill of materials, routings, and work center creation may provide useful insights for an operations manager, who is often interested in productivity and efficiency. An Operations Manager might especially benefit from the knowledge of standard costing. This course may be useful for an Operations Manager.

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Project Manager

A Project Manager leads project teams, ensuring they are completed on time and within budget. Understanding how product costs are determined is an asset for Project Managers overseeing projects that involve manufacturing. While this course’s primary focus is not project management, the course can provide insights into costing, especially in manufacturing. Knowledge about standard costing, costing sheets, and cost component structures may be helpful. The course may be useful for a Project Manager.

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Process Improvement Specialist

A Process Improvement Specialist analyzes existing processes to identify inefficiencies. Understanding cost drivers within production helps identify where processes can be optimized. This course may be useful for a Process Improvement Specialist, particularly one who works in a manufacturing setting. The material on standard costing, bill of materials, routing and work centers may provide insights into areas where costs can be managed. The course may be helpful for a Process Improvement Specialist.

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Data Analyst

A Data Analyst assesses, processes, and interprets data related to various business functions. Although this course is not directly related to data analysis, it introduces product costing data. This exposure may help a Data Analyst who wishes to specialize in analyzing data related to manufacturing costs. This course may be helpful for a Data Analyst.

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Pricing Analyst

A Pricing Analyst is responsible for setting prices for products or services. Although this course is not directly about pricing strategies, the in-depth detail about product costs, especially standard costs, may help a Pricing Analyst to better understand the cost base for specific products. This course is may be useful for a Pricing Analyst, particularly one that works in a manufacturing environment, or with tangible products.

See salaries and explore the career path for Pricing Analyst

Business Analyst

A Business Analyst identifies business needs and problems, and then proposes solutions. A Business Analyst that is involved in process improvement, for example, may benefit from an understanding of product costing. This course may indirectly be useful for a Business Analyst, as costing is a key component of business operations. The course's content on cost component structure, overhead management, and costing variants could be helpful for a Business Analyst.

See salaries and explore the career path for Business Analyst

Reading list

We've selected one books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in SAP CO - Product Costing S4HANA.

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Provides a comprehensive overview of SAP S/4HANA Finance, including its core functionalities and integration points. It is particularly useful for understanding the broader context of product costing within the SAP S/4HANA ecosystem. The book helps to bridge the gap between theoretical knowledge and practical application in SAP S/4HANA. It is commonly used as a reference by SAP consultants and finance professionals.

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SAP CO - Product Costing S4HANA

What's inside

Learning objectives

Syllabus

Good to know

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Activities

Career center

Reading list

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