CS - 373
We help in Consultation for streamlining processes and accounting linkages in ERP.
Case Study: XYZ Ltd is into business of custom injection moulding of plastic items.
The company has recently implemented a new ERP system and as per the financial statements generated by the new system, substantial loss and overall negative net-worth was observed
Favourable variance(profit arising due to high standard costs as compared to actual costs which was accumulated in WIP account were transferred to respective accounts(i.e.,labour cost,other production cost)resulting
in reduction of overall cost of production and an automated process was created for transfer of variance to respective accounts
Profitability was reinstated correctly in P&L account for the period ending on 31st March,2019 from a loss amounting to Rs. 1 crore to actual profit of Rs. 5 crore