SAP CO - Material Ledger with First in-first out (FIFO)

What you'll learn
Students able to get SAP CO process with Actual Costing
Students able to get knowledge to configuration of SAP CO Material Ledger/Actual Costing
Students able to get understanding process of SAP CO process with Actual Costing with FIFO.
Students able to get understanding with tested cycles of SAP CO process with Actual Costing with FIFO.
Requirements
SAP FI and CO module are required and also basics of "Product Costing"
Description
SAP CO Material Ledger with First in-first out (FIFO):How Material Ledger can approach with First in, first out (FIFO) in S/4 HANA 2020 (MM, Production, SD cycle flows)Balance Sheet ValuationIf the Companies report their Inventory values in different ways."Balance sheet" preparation for Legal ,Company policy rules for Internal management objectives also for Tax purpose.The different ways to value inventory is based on how the policy for inventory valuation treats the inflationary factors in the market.The most and main approach of nowadays companies following Inventory withdrawal and valuation in SAP is either "First in-first out (FIFO)" and Average Cost MethodsFirst in, first out (FIFO):"FIFO" stands for first-in, first-out, meaning that the oldest inventory items are recorded as consumed if it is RM(procured material), and Sold if it is FG(production material) first. In other words, the cost associated with the inventory that was purchased/Produced first is the cost expensed first.An approach to inventory management with FIFO method either withdrawal and or valuation procedure in which materials and products are actually withdrawn from stock for sale and or use in the production/process order of their manufacturing (i.e. the first goods received are - or are deemed to be - the first to be issued).Testing with MM, Production and SD Cycles "Material Ledger with First In, First Out (FIFO)"1) Raw material (procured from outside) with price control "V" and determination "2". FIFO Inventory valuation procedure without Actual Costing/Material Ledger execution-CKMLCP in the same period.2) Raw material (procured from outside) with price control "S" and determination "3". FIFO withdrawal method and valuation procedure with Actual Costing/Material Ledger execution-CKMLCP in different periods.3) Finished Product (Internal Manufacturing) with price control "S" and determination "3". FIFO withdrawal method and valuation procedure with Actual Costing/Material Ledger execution-CKMLCP in different periods.4) Price difference also allocated to according FIFO withdrawal5) Exchange rate difference also allocated to according FIFO withdrawal6) Explain Difference between FIFO-Material Ledger/Actual Costing with normal (Average method) -Material Ledger/Actual Costing Inventory withdrawal, valuation method.
Overview
Section 1: Introduction of Material Ledger with FIFO
Lecture 1 Introduction of Material Ledger with FIFO
Section 2: SAP Functional (FI,CO,MM,SD,PP) Base line Configuration
Lecture 2 Enterprise Structure Configuration
Lecture 3 Financial Accounting Configuration
Lecture 4 Material Management Configuration
Lecture 5 Sales & Distribution Configuration
Lecture 6 Production Planning Configuration
Lecture 7 Controlling Area Configuration
Lecture 8 GL accounts and OBYC & VKOA Settings
Section 3: Basic Product Costing Settings
Lecture 9 Basic Product Costing Configuration
Lecture 10 Activity types, Splitting Structure and B.Partner creation: Customer and Vendor
Section 4: Material Ledger Configuration Settings
Lecture 11 Material Ledger Configuration-1
Lecture 12 Material Ledger Configuration-2
Lecture 13 Material Ledger Activation-CKMSTART
Section 5: Balance Sheet Valuation Procedure with Material Ledger: FIFO configuration
Lecture 14 Balance Sheet Valuation Procedure with Material Ledger: FIFO configuration
Section 6: Scenario 1: FIFO: Inventory Valuation with Price Control "V"
Lecture 15 FIFO Inventory Valuation only ,for Price Control "V"-Testing & Explanation
Section 7: Scenario 2: FIFO: Inventory Valuation and Withdrawal with Price Diff
Lecture 16 Raw Material-Price control S: FIFO-Material Ledger/Actual Costing-Testing 1
Lecture 17 Raw Material-Price control S: FIFO-Material Ledger/Actual Costing-Testing 2
Section 8: Scenario 3: FIFO: Inventory Valuation and Withdrawal with Price Diff and Ex rate
Lecture 18 RM-PRD and Ex Rate Diff with FIFO-ML actual Costing
Section 9: Scenario 4: FIFO: FG Material Ledger testing with "Production" and "Sales cycle"
Lecture 19 FG Material testing with Production and Sales cycle of FIFO Material Ledger-1
Lecture 20 FG Material testing with Production and Sales cycle of FIFO Material Ledger 2
Lecture 21 FG Material testing with Production and Sales cycle of FIFO Material Ledger 3
Lecture 22 CKMLCP Execution
CPA , CMA , ACCA , CA , MBA , M Com, B Com students and Professionals, SAP FICO Consultants and End Users.




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