This 2-day course Inventory Costing and Valuation in Microsoft Dynamics AX 2012 is for those, who want to be able to understand the principles of Inventory Costing and Valuation in AX 2012, thru principles overview, set-up, and examples, as well as plenty of hands-on labs.
Typical participant profiles:
The course is sales and purchase managers, salespeople, purchasers, cost accountants, and others in an organization that are responsible for the setup and administration of inventory costing and valuation functionality, as well as accountants, superusers, controllers, consultants.
It is essential to have participated in our course Introduction to Microsoft Dynamics AX 2012 or in other ways have obtained equivalent knowledge.
Good knowledge of Supply Chain Management (Trade & Logistics) in AX 2012. Knowledge of financial principles is beneficial.
During this Inventory Costing and Valuation in Microsoft Dynamics AX 2012 course, you will be introduced to inventory costing and valuation functionality in AX 2012. The course covers Fundamental Costing Issue and Basic Cost Flow, Inventory models Used for Closing, Standard Cost Framework, Moving Average, Marking functionality, Closing Inventory, and Inventory Costing and Adjustment Reports.
As part of the discussion of the inventory valuation principles, we will review the product set-up. We will also review the dimensions used and their implications on inventory value reports. Ledger integration is also an important part.
We will also work with more advanced functionality and tools for daily as well as periodic tasks.
During this 2-day class, you will work hands-on with our hands-on labs with guidelines for Microsoft Dynamics AX 2012.
Introduction and overview
Fundamental costing issue and basic cost flow
- Fundamental Costing Issue
- Financial Inventory Parameter
- Estimated Values Before Closing
- Packing Slip Update.
Inventory Models Used for Closing
The five “periodic” inventory models used for inventory closing.
- LIFO Date
- Weighted average
- Weighted average date.
Standard Cost Framework
Standard cost framework and necessary setup required for using standard cost inventory model.
Set Up Standard Cost Framework
- Cost Breakdown
- Costing Sheet
- Indirect Cost
- Costing Versions
- Production Variances
- Variance Analysis Statement.
- Issue cost will not be adjusted by running an inventory close with the moving average method since this is a pure perpetual model
- Price differences between the point of product receipt and the invoice can be proportionally expensed
- The handling of negative inventory, backdating of inventory transactions, adjustment of inventory values and posting of credit notes
- How costing of production is supported.
Marking functionality and in which cases it is necessary to use marking to marry receipt and issues.
- Marking a Sales Order Against a Purchase Order Lot
- Dimensions and Marking
- Cost Price Calculation
- Marking Form
- Marking Across Dimensions and Warnings
- Marking Complete Lots Between Sales Orders and Purchase Orders.
Inventory closing and adjustment determines how you value your inventory and how adjustments can be made to inventory value.
- Pre-closing Actions
- Inventory Closing Procedure
- Inventory Recalculation
- Manual Inventory Adjustments
- Inventory Close Cancellation.
Inventory Costing and Adjustment Reports, Screens and Business Intelligence
- Adjustment Report
- Fixed Receipt Deviation Report
- Physical Inventory by Item Group
- Physical Inventory by Dimension Group
- Inventory value Statement
- Cost Explorer
- and more.
- Non-stock items
- Purchase Order Posting: Two-voucher posting strategy
- Addition topics, if time allows
- Costing sheet (light version only! For full story, please join our 1-day Production Costing course)
- Production Costing (light version only! For full story, please join our 1-day Production Costing course)
- Inventory Insight, Reconciliation and Reporting (light version only! For full story, please join our 1-day Inventory Insight, Reconciliation and Reporting course)
- Cost Explorer (light version only! For full story, please join our 1-day Inventory Insight, Reconciliation and Reporting course)
- Questions and answers.
Price for this course includes training manuals, training environment, food and beverages during the training.
We will provide our own developed and updated AXcademy training materials and/or training materials from Microsoft.
Training manuals are provided printed and/or as files.
Each student will receive copies to annotate and keep.
During the training, each student will have access to their personal copy of Microsoft Dynamics AX 2012 training environment (with standard Contoso demo data) free of charge.
After the training, you will continue to have access to your personal training environment – including your labs – absolutely free of charge for 3 months.
To ensure the best possible learning environment, a world-class instructor with loads of real-life technical experience in AX 2012 is in place, and the number of participants is limited to 10 students.
Food and beverages
Food and beverages are provided during the training hours.
•Light breakfast before start
•Lunch of high quality and variety
•Water, coffee/tea, soft drinks, fruits through-out the day.
(Actual offerings vary depending on the actual training location. For special food requirements, please ask well in advance of the class start date)
Any certification exams
MOC used during this Inventory Costing and Valuation in Microsoft Dynamics AX 2012
Based on relevant parts of Microsoft training materials MOC 50191 “Microsoft Dynamics AX 2012 Inventory Costing and Valuation”