What is account in SAP PLM-PLC - Product Lifecycle Costing?

SAP Term: account

• Component: PLM-PLC

• Component Name: Product Lifecycle Costing

• Description: Classification of an organization's valuated consumption of production factors within a controlling area. Every account is assigned to one controlling area.

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• Key Concepts: 
  An account in SAP PLM-PLC Product Lifecycle Costing is a financial record that tracks the costs associated with a product throughout its lifecycle. It is used to track the costs of materials, labor, overhead, and other expenses associated with the production and sale of a product. 
  
  How to use it: 
  Accounts are used to track the costs associated with a product throughout its lifecycle. This includes tracking the costs of materials, labor, overhead, and other expenses associated with the production and sale of a product. The accounts can be used to analyze the cost of a product at different stages of its lifecycle and to identify areas where cost savings can be made. 
  
  Tips & Tricks: 
  When setting up accounts in SAP PLM-PLC Product Lifecycle Costing, it is important to ensure that all relevant costs are included in the account. This will ensure that all costs associated with the product are tracked accurately and that any potential cost savings can be identified. 
  
  Related Information: 
  SAP PLM-PLC Product Lifecycle Costing also includes features such as cost forecasting, which can be used to predict future costs based on current trends. This can help businesses plan for future expenses and identify areas where cost savings can be made.