COSMO Period Costing
by Cosmo Consult
Profit and loss statement according to the total-cost-accounting method
MicrosoftDynamics 365 Business Central uses the cost-of-sales method as standard. COSMOCONSULT offers with the app COSMOPeriod Costing thepossibility to carry out the profit and loss statement according to the total-cost-accountingmethod.
Accordingto the German Commercial Code (HGB) and the International Financial ReportingStandards (IFRS), the profit and loss statement can be prepared using the period-costingmethod as well as the cost-of sales method.
Bothmethods lead to identical results, since income and expenses differ by the sameamount. The difference between the two methods lies solely in the differenttreatment of changes in inventories.
Additionalentries on separate profit and loss accounts
- Changesin inventories due to the use of materials and
- Inventorychanges in production (actual and finished reports)
are posteddimensionally accurate and can be analyzed and evaluated in account schemes,analyses and especially in cost center and cost unit accounting.
This app supports the Essential and Premium editions of Dynamics 365 Business Central.
Austria, Australia, Canada, Switzerland, Chile, Colombia, Germany, Spain, France, United Kingdom, Hong Kong SAR, Hungary, Netherlands, Peru, Romania, Sweden, United States.
Country availability is technically verified. Please contact us for country specifics of features.
German (Austria), German (Switzerland), German (Germany), English (United States)