The Cost Accounting subsystem requires some basic setup in order to take advantage of using this functionality to record, report and track information. The basic information required by the subsystem are the Major Program, Program and Program Period codes.
Even though the Cost Accounting codes are separate from other Chart of Accounts codes, they are still integrated in the entry of all system documents. Cost Accounting builds on functionality provided within CGI Advantage Financial Chart of Accounts and utilizes certain key functions available in Chart of Accounts; for example, coding combination and inference features. Most of the Cost Accounting structural codes provide the same entry point as Chart of Accounts codes but capture independent and unique Cost Accounting specific financial information.
CGI Advantage Financial Cost Accounting codes are designed for the capture of financial and performance data associated with grants and projects, from Federal or other funding sources. Cost Accounting codes provide full freedom to define Cost Accounting code structures as required by the funding sources' reporting and reimbursable requirements.
Additionally, existing Chart of Accounts codes may be used in conjunction with the Cost Accounting structures to define the services or tasks being performed as part of both Cost Accounting expenditure and revenue events.
Capturing the Cost Accounting information at the point of entry provides real-time reporting and budget control. Cost Accounting fields are also stored in the Journal with all other accounting codes to support complex budgeting and reporting needs using financial, organizational, and Cost Accounting codes. For example, you can obtain a report of grants' expenditures by appropriation from the Journal.