a beginner’s guide to oracle 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
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