Hi,
The potential conflicts report check numerous things including parameter setups, etc. If you want to find out what this report includes you have to dig down into the inventledgerconflict classes.
About the inventory aging report:
Please have a look at the following website that includes a link to a video that explains the inventory aging report in detail.
blogs.msdn.com/.../new-costing-features-in-dynamics-ax-2012-r3.aspx
Hope it helps,
Ludwig