Difference between Item Cost and Last Evaluated Price

Dear All,
What is the difference between Item Cost and Price in Last Evaluated Price List. Exactly when are they updated?
Regards
Sibasish

Hi Sibasish,
The "Last Evaluated Price" is simply a price list but can't have a direct manipulation like other price lists. Its values may not involve in any accounting transactions if it's not selected for the concerned transaction any way.
On the other hand the item cost is the cost which is maintained by SAP B1 (until and unless you select the Standard Valuation Method), and it gets involved in the accounting transactions where inventory is involved. For e.g. the "COGS" is calculated on the basis of this value.
Please close this thread if answered ... or please let us hear something more from you on this...

Similar Messages

Difference between Standard cost and standard price

Hi:
I have gone through google but i could not find any answer to the question clicking my mind. When we talk about standard cost and standard price..Should they be taken synonymously? Are these two same concepts... If there is any difference between two please do let me know..Similarly is there any difference between Actual cost and actual price. Please guide
Br

For Finished Goods, Cost is nothing but your manufacturing or procurement cost.
Where as Price is nothing but your sales price of the same Finished Goods.
Simply when you buy, it is cost and when you sell it is price.
Price includes cost + Profit or loss.
But from SAP point of view Standard Price field in Material master is Standard Cost.
Standard cost will be arrived when we manufacture or procure
Sale price will be entered in Sale order as condition value.

The difference between system restore and last good known configuration

hi,
what is the difference between system restore and last good known configuration.
in which situation you use system restore ,and in which situation you use last good known configuration.
very short answer wil be enough.
thanks
johan
h.david

Last Known Good Configuration deals only with Starting Windows eg. a bad registry or incorrect driver is preventing Windows to start.It recovers the registry settings of HKEY_LOCAL_MACHINE\System\CurrentControlSet
While System Restore uses restore points to return your system files and settings to an earlier point in time without affecting personal files. Restore points are created automatically every week, and just before significant system events, such as the installation
of a program or device driver. You can also create a restore point manually.You can undone system restore but there is no such option in Last Known Good Configuration.
Last Known Good Configuration is disabled in Windows 8 or,Windows 8.1 by default.
Try using Last Known Good Configuration if you can't start Windows, but it started correctly the last time you turned on the computer.
Try using System Restore to return the system to an earlier point in time when things worked correctly.
S.Sengupta, Windows Entertainment and Connected Home MVP

Difference between Time Management and Time Evaluation

Hello
Is there any Difference between Time Management and Time Evaluation? if yes, then what is it? I guess there's no diff, time evaluation is a report..
please advice
Thanks

Hi Charlene,
Time management can be divided into 3 steps
1.Time Recording
2.Time Evaluation
3. Planning
Time Evaluation :
The recorded time data is grouped and converted to wage types which can be used by payroll for compensation.SAP provides a time evaluation program RPTIME00 for this purpose.
Standard schemas TM00 and TM04 are used for evaluation of time data got from positive and negative time recording approaches.
time evaluation program RPTIME00 also calculates accrual and entitlement for employees.
Regards,
Swapnil

Difference between Actual Cost and Allocable costs in splitting KSS2

I have Cost splitting structure results with me(KSS2)
What is the difference between Actual Costs, Control Costs, Allocable Actual, Actual cost balance and which amount will system consider for calculating the rate with dividing the activity rates.

Hi,
In Splitting Structure KSS2 There are two Costs One is Target Cost (Planned) and Control Cost (Actual Cost)
In Variance Calculation U will See Target Cost (Planned), Actual Cost, Allocated Actual Costs.
Target Cost = Planned Cost
Control Cost = Actual Cost
Actual Cost = Actual Cost
Allocated Actual Cost = Actual Cost of the Output Qty. This is Actual Credits from Activity allocation. This is Actual Credits from delivery of Stock.
Hope you are Clear.

What Is The Difference Between Budget Cost And Regular Cost For Resources?

What's the difference betwee budget cost and regular cost for resources?
Here is the explanation which I didn't understand from the book;
In planning your departmental retreat, suppose you
have specific budget targets
for certain cost categories, $2,500
for travel expenses, $500 for printing,
and $1,000 for conference room rentals. Using Project’s budget resource
feature, you can define your budget
for different categories
of items. You can then group your resources to
com-pare your budgeted
costs to your planned costs. This way, you
can view your travel budget
of $2,500 side by side with your planned
costs of, say, $3,700,
and immedi- ately see that your next
goal is to find a way to trim those travel
costs.

Hi,
You have to differenciate the proejct budget from the project cost:
The project budget is the amount of money which has been allocated to your project by the executive board based on the estimation you provided. This is not meant to be changed unless you go through a change request process, justifying why you need to change
(increase) the budget, meaning asking more money. Consequently it will not be related in MS Project with the tasks, assignments. It is entered on the project summary and can be meanly used in portfolio reports where you can consolidate yours budgets (you can
have several different budgets) among a set of projects.
The project cost is something which lives, changes along the project lifecycle. It is meant to be updated on a weekly or biweekly basis from the team members tasks updates approved by the project manager. Then the PM updates the remaining work thus the project
cost.
Hope this helps,
Guillaume Rouyre, MBA, MVP, P-Seller |
You say that the budget cost is total money which committee gave you for the project.
But the book refer budget cost for every resource. I don't understand that.
" In planning your departmental retreat, suppose you
have specific budget targets
for certain cost categories, $2,500
for travel expenses, $500 for printing,
and $1,000 for conference room rentals. Using Project’s budget resource
feature, you can define your budget
for different categories
of items. You can then group your resources to
com-pare your budgeted
costs to your planned costs. This way, you
can view your travel budget
of $2,500 side by side with your planned
costs of, say, $3,700,
and immedi- ately see that your next
goal is to find a way to trim those travel
costs. "
For example here travel budget cost is 2500 whereas planned cost is 3700. Planned cost of travel expense is created by the project manager. Who does define travel budget cost?
Let's say an employee's cost is 20 dollars per hour and I write it on the project. So how much is this employee's budget cost, Who does define it, From whom do I learn that data?

Difference between Item Proposal and Dynamic Product Proposal

Dear All,
What is the difference between Item Proposal ( VA51) and Dynamic Product Proposal?
Thanks and Regards
Deepak Joshi

Hi,
In item proposal when u enter the details in the sales document you have to click on propose items to get the list
the customer regularly purchases.
While in dynamic product proposal once you specify the sold to party and press enter , system automaticall gives you
the list of the materials the customer regularly purchases, it a faster way of entry than item proposal.
please let me know if i am wrong.
Thanks,
Mohanprabu, C.

Exact difference between Item category and Account assignment category

Can anyone plz give the exact difference between account assignment category and Item category
Thanks inadvance

Hi,
Account Assignment Category: Key indicating whether an item is to be assigned to an auxiliary account (such as a cost center). The account assignment category determines which account assignment data (e.g. cost center, account number, etc.) is required for the item.
Item category: Identifier indicating the characteristics of an item. The item category determines whether the following are necessary or allowed with regard to an item:
Material number, Additional account assignment, Inventory management in the R/3 System, Goods receipt, Invoice receipt.
Prase

Difference between Standard Pricing and Moving Average Price

Hi,
Would like to seek some advises on the difference between standard price and Moving average price.
also, how does it affect the account postings differently?
Thanks

Standard Price
Materials whose price control indicator is set to S are valuated in Financial Accounting (FI) at standard price.
This is recommended for semifinished products and finished products.
The moving average price is shown as a statistical value in the material master record.
The standard price is normally calculated using a standard cost estimate for the material. The standard price can also be calculated in a mixed cost estimate.
Moving Average Price
When materials whose price control indicator is set to V are received from in-house manufacturing processes, they are initially valuated with a value you defined (such as the standard price). When you settle, the material stock account is debited with the variances. This results in a new moving average price.
Valuating semifinished products and finished products with the moving average price is not recommended.
Regards,
Indranil

Difference between product costing and cost collector

Hello experts:
Can anybody tell me wich is the difference between the product costing calculation and the preliminary cost estimate for cost collector?
Thanks
Laura

Hi,
Product cost collector is a cost object which collects actual cost which are incurred in the production of materials periodically. This is normally used in product product cost by period. Whereas, product cost calculation is wider scope.
Best Regards,
Madhu

Difference between Item Proposal and Material Determination

Hi
What is the difference between the item proposal and material determination product proposal?
Thanks
KM

Hi
Item proposal and product proposal are the same.
Item proposal is the list of materials and order quantities that can be copied into the sales order from the customer master data.
We use VA51 to create the item proposal. Here we get a number.This number is then linked to the customer master data in the sales view. This is very commonly used.
Material determination is very closely related to item proposal /product proposal and is used to swap one material for another in the sales order using the condition technique. I have not seen Material determination procedures used in the projects I have worked.
Item Proposal or Product proposal:
Item proposal is same as product proposal & SAP uses the two terms interchangeably.
An item proposal is a list of materials and order quantities that can be copied into the sales order. Items can also be selected from a list and copied into a sales order.
1) Use transaction [VOV8] to configure the document type ("MS" for product proposal).
2) Use transaction [VA51] to create a proposal.
3) Enter the item proposal on the sales area data (sales tab) of the customer master record.
4) In [VA01] to create a sales order, Select Edit & propose items."
Material determination:
"Material determination uses the condition technique to swap one material for another when certain conditions apply. Material
determination is triggered by the material entered in the line item of the sales order.
Use transaction [VB11] to create a material determination condition record. And [OV12] for configuration of material determination.
Material determination is useful when old product is becoming obsolete or a new product is released by the company at specific date."
Thanks
CGRA

Difference between standard costing and average costing

Can someone please explain the difference in simple terms...what are the factors should be considered when selecting which costing we should opt for..
I did get a note from oracle...but couldn't understand much from it
http://docs.oracle.com/cd/A60725_05/html/comnls/us/cst/stdavg.htm
Any advise will be useful
Mahendra

The page really gives a good overview. You may want to sit down with the CFO /Cost Accountant and discuss the page.
But as a rule of thumb:
If the company makes same (or similar) things then you use standard costing. Think of a company making computers, humidifiers, spoons etc.
If the products or activities are not always the same, you use avg. costing. Think of a company making oil rigs or performing repair jobs.
Typically, your client will already have a costing philosophy. Just talk to the CFO/Cost accountant and ask them which method they use.
Sandeep Gandhi

Difference between Asset Cost and Sum of Cost of Source Lines

Dear Members,
I have an asset for which the cost is shown as 1,672.696 at header level in Source Lines window.
But when I summed up the cost of the source lines of the same asset it is coming as 3345.392 (which is double of the amount shown at the header level).
Can any one please tell me why there is a difference.
Steps I Followed:
The navigation I followed is as follows:
FA Super User-->Asset Workbench.
In the find screen I have entered the asset number and clicked on Find button.
Once I clicked on the Find button ,I can see the 'Assets' scrren on which I clicked on the 'Source Lines' button.
Now Iam in Sourcelines window and here I can see the difference.
Thanks in advance.
Regards,
Arun Reddy.

Dear Members,
I have an asset for which the cost is shown as 1,672.696 at header level in Source Lines window.
But when I summed up the cost of the source lines of the same asset it is coming as 3345.392 (which is double of the amount shown at the header level).
Can any one please tell me why there is a difference.
Steps I Followed:
The navigation I followed is as follows:
FA Super User-->Asset Workbench.
In the find screen I have entered the asset number and clicked on Find button.
Once I clicked on the Find button ,I can see the 'Assets' scrren on which I clicked on the 'Source Lines' button.
Now Iam in Sourcelines window and here I can see the difference.
Thanks in advance.
Regards,
Arun Reddy.

Last Purchase Price & Last evaluated Price

hello experts,
i just wanna know what is the difference in between Last Purchase Price and Last evaluated price. our company uses FIFO.
what is the effect in goods issue if i will use last Purchase Price or Last evaluated price.
Thanks in advance.
FIDEL

Hi Avelino,
The last Purchase Price is the last price paid for an Item, meaning that this price is updated when an AP Invoice is posted as this is considered the purchase price. The price is not updated by Goods Receipt or Prchase Order as an example.
The Last Evaluated Price or Last Calculated is updated when either running the Stock Audit Report or the Stock Valuation Report.
Please note that if the company has been defined with 'Manage Item Cost per Warehouse' in the Company
Details and the Stock Audit Report is used to update the last evaluated price, then the price will be as calculated in the default warehouse of the Item.
For the Goods Issue, the price as given on the rows is only informative, the price that will be credited from the stock account in the Journal Entry is the calculated cost price according to the valuation method that has been defined for the item (FIFO, Moving Average, Standard).
With the Form Settings you can chose to display the 'Item Cost' field in the Goods Issue, this will however only be populated after the Goods Issue has been added. The reason for this is that the price could have changed between the moment when the Goods Issue form was opened and the time that it is added.
I hope this helps.
Jesper

Difference Aetween Overhead Cost and Product Cost

Sir,
What is the difference between Overhead Cost and Product Cost
Thanking You
Juhi

Product cost indicates the cost of making a product which includes
1) materials (contained in the BOM)
2) labour (specified in the routing)
3) Overheads (charged via costing sheet).
1) and 2) are directly identifiable to the product made.
3) is not possible to directly associate to a making of product. This is more a common cost. Eg. Material handling charges. The material handling department, say, employs a few workers to do material transfer from warehouse, their cost is hard to associate to a particular production order. Hence, usually a percentage is applied , where in the order is charged proportionate to use of materials in that order. The corresponding credit is given to the Material handling departmnet/cost center.

Difference between Item Cost and Last Evaluated Price

Similar Messages

Maybe you are looking for