Cost accounting is a crucial controlling tool for the entire management of a business because it provides information about business-critical costs and revenues and in this way forms the basis for important business decisions. Cost accounting in Microsoft Dynamics 365 for Finance and Operations, Enterprise Edition (formerly Microsoft Dynamics AX) allows you to extensively analyse fixed and variable costs to give you an in-depth understanding of all the costs incurred in connection with your business activities.
The module supports you in cost flow analyses, providing transparency over all of the cost factors within your organisation. With cost accounting in Microsoft Dynamics 365 for Finance and Operations, Enterprise Edition, you can perform detailed calculations of the financial performance and profitability of your business processes and business units.
With cost accounting in Microsoft Dynamics 365 for Finance and Operations, Enterprise Edition, you can convert the information from financial management into cost data and compare and reconcile your chart of accounts with cost categories. The special cost accounting functions in Microsoft Dynamics 365 for Finance and Operations, Enterprise Edition permit cost-based regulation and cost reallocation, where necessary, and provide an overview in context without any modification of G/L entries. As a result, you always have control over all cost-relevant business data and can revert back to detailed and reliable analysis data in your decision-making processes.
Furthermore, the system allows you to work out and plan future cost flows and also to calculate cost rates on the basis of sales planning and budgets. This allows you to foresee the impact of business decisions on your bottom line and to define milestones and goals for future periods. You can also perform cost flow analyses on the basis of budgets and use the results to identify any deviations from the actual costs.