COST ACCOUNTING
COST MANAGEMENT SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Your client needs to import the relevant transactions and tax determinants for their expense items into Receipt Accounting. What is the correct sequence of processes to accomplish this?
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Transfer Transactions from Receiving to Costing, Transfer Costs to Cost Management
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Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
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Transfer Costs to Cost Management, Transfer Transactions from Receiving to Costing
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Transfer Transactions from Inventory to Costing, Transfer Costs to Cost Management
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Transfer Transactions from Receiving to Costing, Transfer Transactions from Inventory to Costing
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Explanation:
Detailed explanation-1: -The Transfer Transactions from Receiving to Costing process is used to transfer transactions from Receiving to Receipt Accounting in Cost Management. Receiving sends the receiving transactions information to the CMR I RCV TRANSACTIONS table in Cost Management.
Detailed explanation-2: -When goods are interfaced from Oracle Receiving to Oracle Receipt Accounting, Receipt Accounting recognizes the liability to the supplier, and creates accruals for receipts destined for inventory or expense. For consigned purchases, the supplier accrual is booked upon change of ownership.
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