Cost Center Structures

[dpes1]

A new mining company in our area is trying to identify the best or an industry standard cost center structure / Chart of Accounts. I wouldn't say ours are the best as we've done several COA conversions in Ellipse over the years as we changed our minds!! But if anyone can share theirs can they let me know? It might help them avoid our pitfalls!

Thanks!
Donna

 

[Calator]

our mining enterprise runs with a 4 segments cost centre structure:
-work group
-location
-equipment
-activity
plus the expense element

 

[tas1]

Our revenue coding structure used for recording income and operating costs comprises 15 digits structured in 4 segments as follows:-

Segment 1 Function / Site / Dept [5 digits 1 alpha 4 numerics]
Segment 2 Process [3 digits 1 alpha 2 numerics]
Segment 3 Activity [3 digits 1 alpha 2 numerics]
Segment 4 Expense type [4 digits 4 numerics]

Hope this helps..

 

[Calator]

Donna,
It would be interesting if you also listed the various COA structures your company used historically, and especially what was the process you used for conversion?