Cost standard system updating
The standard for household power used to be 60 amps.But modern homes may need as many as 200 amps to run air conditioners, computer equipment, high-definition televisions, and high-tech home automation devices.Updates the standard production cost record and calculates the change in all inventory values.
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You have three options for running this process: Displays the impact of the standard change without actually updating the costs and posting revaluation entries.
Running this process in report-only mode gives you a preview of the financial impact of the standards change without affecting the current transaction costing or inventory valuation.
Every time that any component of inventory is acquired or produced at a cost different than the assigned standard cost, that variance hits the income statement and inventory is misstated.
If feasible, at the end of every reporting period an analysis of purchase and production costs for capitalizability should be performed.
BMW System Map Updates place the most reliable data at your fingertips, getting you from Point A to Point B faster, safer and more easily.