Cost models A cost model is the set of rules, methods, and metrics that tell the application how to allocate expenses to the accounts in the IT chart of accounts. Cost models are associated with allocations and reports. You can create several cost models and choose which one you want to run the allocation engine against. This feature is available starting with the Geneva release. Create a cost model with the Cost Model formYou can create multiple cost models to process allocations. Use the Cost Model form to configure all possible settings available to the cost model.Choose a cost modelYou can choose one cost model that you want to use in the workbench as you pass through all the stages.Cost model hierarchyAll the accounts in the IT chart of accounts belong to segments, which are structured in a cost model hierarchy.