Home > Exploration Best Practice > Cost, Activity and Program Codes

Cost, Activity and Program Codes

View this page in Español, Français, Português, Русский or another language.

Best practice in exploration management requires that expenses be categorised in three dimensions, according to Cost Codes, Program Codes and Activity Codes.

Cost Codes are codes used to categorise the kind of item or service that has been, or will be, purchased.

Correctly used, these contribute to:

(1) Good management accounting - accounting to inform management on high cost aspects of their operations, and to assist in budgeting for future activities

(2) Simplifying financial accounting - keeping track of capital as opposed to operating cost items

All CampControl accounts start up with CampControl’s pre-configured Cost Codes, which have been refined over many years, and are suitable for most new exploration projects. CampControl Account Managers, however, can enter their own Cost Codes into the system for use within their account. The account can be configured to use these in addition to the pre-configured codes, or as a replacement for the CampControl Cost Codes.

Companies which already have their own Cost Codes are advised to enter or upload these into CampControl and to remove CampControl’s pre-configured Cost Codes. This will allow easy integration of orders exported from CampControl into accounting software which uses the same Cost Codes.

Program Codes are codes used to categorise expenditure by the exploration program or project it contributes to. These are often very important for accounting purposes, when it is important to distinguish expenditures on different properties because different partners or funding sources may be involved in different properties. Program Codes are customiseabl in CampControl.

Activity Codes are codes used to categorise expenditure by the activity it contributes to. Activities are defined according to the preferences of project managers. For example, some mangers like to keep separate track of their geochemical and geophysical expenditures. Some lump them together as “Field Expenses”, and others like to split geophysical expenses into ground and airborne geophysics.

All CampControl accounts start up with CampControl’s preconfigured Activity Codes. CampControl Account Managers, however, can enter their own Activity Codes into the system for use within their account.