Session ID:

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10049A Beginner’s Guide to Oracle Financial Consolidation and Close Cloud

April 23, 2018

Praveen KumarPractice DirectorAST LLC

• Introduction• Business Process & Key Challenges• Solution Components• Key Functionality and Business Benefits• Consolidation • Financial Close • Supplemental Data Manager • Data Management• Inquiry and Reporting• Q&A

2

Agenda

3

AST LLC

4

Financial Close Process

5

Business Challenges

6

FCCS – Solution Components

Consolidation• Predefined dimensions with built-in Financial Intelligence

• Flexible application configuration with pre-built forms & reports

• Standard consolidations & eliminations

• Currency translations and FX adjustment calculations

• Built-in KPI ratio analysis

• Custom calculations using member formula

• Automated Cash Flow

• Data source detail tracking with drill through capability

7

FCCS Functionality (1/2)

• Multi-GAAP support

• Approvals

• Journal entry with approval

workflow

• Intercompany matching

• Data audit

• Data load from ERP

8

FCCS Functionality (2/2)

Close Calendar• Task Management

• Workflow

Supplemental Schedules• Data Collection

• Drill through from consolidated numbers

• Reduce the time it takes to complete the financial close.

• Ensure clear responsibilities and timelines.

• Ensure visibility and predictability.

• Deliver numbers that are complete and accurate.

• Increase collaboration.

• Standardized, repeatable and auditable processes.

• Do not require replacement existing transactional systems.

• Rapid deployment and always up to date.

9

Key Business Benefits

Consolidation

• One application per

Pod (Two cubes :

Consol & Rates )

• Time Period

• Start Year & First

Month

• Main Currency &

Multi Currency

Option

11

Configuration Decisions

• Track Multi-Source Data Input

– Supplemental Data– Other Data

• Intercompany– Intercompany Data– Track Intercompany elimination

• Balance Sheet Hierarchy– Traditional Balance Sheet

Approach– Net Asset approach

• Multi-GAAP– Enter Adjustment– Calculate Adjustment

12

Feature Selection (1/2)

• Journals

– Journal Adjustments

– Journal Workflow

• Include Ratio Calculations

– Liquidity Ratio

– Asset Management Ratio

– Profitability Ratio

– Leverage Ratio

• Custom Dimensions

13

Feature Selection (2/2)

Mandatory Dimensions

1. Account

2. Period

3. Data Source

4. Consolidation

5. Currency

6. Entity

7. Intercompany

8. Movement

9. Scenario

10. Year

11. View

Optional Dimensions* (Max 2)

1. Multi-GAAP

2. Custom 1

3. Custom 2

* Expected to increase soon

14

Dimensions

Pre-seeded members • Included in system dimension • Prefix with “FCCS_” • Cannot be renamed • Cannot be removed • Cannot change member

property • Can change alias • Built-in member formula cannot

be changed

15

System Dimension Members

16

Account Dimension

Income Statement Hierarchy

Pre-seeded accounts label

Balance Sheet Hierarchy

17

Currency Dimension– Input Currencies

– Application Currency – Additional Currencies enabled for the

app – Assigned valid input currencies for

Entity

– Reporting Currencies– Currencies to be used for reporting

purpose – Enable only currencies needed – Only reporting currencies are available

for translation

– Entity Currency– Can only enter data to Entity Currency

member

– Parent Currency– Translated data as related to parent – Read only

18

Movement DimensionUsed for Opening Balance, Closing Balance, Cash Flow, FX and CTA

– Movement Base Members – At a Level necessary for Cash Flow

reporting

– Two Reporting Hierarchies– Bridging the changes in balance sheet

accounts – Create Cash Flow

• Data Status • Enter Exchanged Rates –Single/ Multi Periods • Exchange Rates & Override Rates • Percent Consolidation• FCCS_Balance Sheet by

– Consolidation– Movement Detail & Summary– Period Key Balances by View

FCCS_Cash Flow by– Period by Entity by View– Monthly/Quarterly Cash Flow by Entity

FCCS_Income Statement by– Period/Month/Quarter/Year– Entity

19

Prebuilt Data Forms (Partial List)

• Consolidate• Force Consolidate• Translate• Force Translate• DataLoad_PreProcess_Consol• DataLoad_PostProcess_Consol• DataLoad_PostProcess_Rates• MetadataLoad_PostProcess_Consol• FCCSFormStatusProcessor• RefreshDatabase_PostProcess_Consol• RefreshDatabase_DelegatePostProcess• ComputeRates

20

Prebuilt Business Rules (Partial List)

Roles• Admin • Power User • User • Viewer

Artifact level security assignment– Read/ Write/None access

– Metadata members– Scenario / Entity / Currency / Data Source / Account / Custom

– Data Entry Forms

– Business Rules

21

Security

• Data Audit – Support setting at application level – Audit of metadata administration, data, journals, forms, rules, user administration

and security – Option to include action for Add / Delete / Modify / Clear / Execute

• Valid Intersection enforcement – User-defined valid intersection rules – Support validation check at Data Entry Form, not Data Import – Invalid Intersection report- Option to clear invalid cells

• Entity Locking – Lock / Unlock entity by Scenario / Year / Period – Lock Parent automatic lock Children – Unlock Child automatic unlock Parent – Entity hierarchy and Period dependency rule enforced

22

Data Integrity

23

Sample Consolidation Process

Close Management

25

Supports Extended Close Process

• Reduce close cycle time.

• Ensure visibility and

predictability.

• Improve trust and reliability that

the numbers are complete and

accurate

26

Ability to View & Manage the Close Process

27

Task Management

28

Tasks/Calendar

29

Workflow: Email Notification

Supplemental Data Manager

• Design Data Sets

• Design data form templates as needed.

• Data Source member “Supplemental Data” for capturing

supplemental data.

• Manage Data Collection process through Workflow

• Integrated Supplemental Detail with Drill Back

• Supports Smart View

31

Key Features

32

Example: Integrated Supplemental Data

Data Management

Integration with External System

Data and Metadata

Drill-through

and Write-back

Data and Metadata

Drill-through

and Write-back

File Excel

Other Systems

Oracle EBS, PeopleSoft, JDE, Fusion APPs,

SAP R/3

Data WarehouseData Mart

ERP Cloud

Oracle FFC Cloud Services

ERP Cloud

Oracle EPM On-Premise

34

35

Integration Support

Data Management Hybrid Support Export/Source Text/Multi -Col Load Journals ERP Cloud

PBCS Yes Yes Yes Yes NA Yes

EPBCS Yes Yes Yes Yes NA Yes

FCCS Yes 11.1.2.4.210 16.11 Yes 16.11 Yes

ARCS Yes TBD TBD NA NA Yes

PCMCS 16.09 11.1.2.4.210 16.09 NA TBD 16.09

TRCS (Tax) 16.12 TBD TBD TBD TBD 16.12

Reports & Dashboards

37

Reports

• Predefined Reports– Balance Sheet – Cash Flow– Income Statement– Multi-GAAP Analysis

• Financial Reports• Journal Reports• Intercompany Reports• Close Manager Reports

38

Dashboards• Financial

– Data – Chart

• Close Overview– Close Schedule tasks – Supplemental data

• Compliance – Completed – On Time – Rejected

Session ID:

Remember to complete your evaluation for this session within the app!

10049

Prkumar@astcorporation.com