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Agenda
What We Set Out To Address Release Twelve: The Global Release
Global Architecture
MultiOrg Access Control Subledger Accounting Ledgers and Ledger Sets Ledger Considerations
Globalization is unstoppable. Regardless of geography, industry or income, companies are globalizing to gain new customers and access new markets. Is this a good thing? Nearly two-thirds of the CEOs we surveyed are positive about the impact that globalization will have on their organizations over the next three years.
Source: 9th Annual Global CEO Survey Globalization and Complexity; PwC 2006
Standardizing operating practices and controls Standardizing policies and business rules Standardizing and integrating finance systems Adopting best practices Optimizing the finance organization and its reporting structure Reducing reliance on spreadsheets
Source: PWC Management Barometer
50%
Senior executives say simplification is driving the Finance agenda
33%
% Yet To
50% 60%
Improve processes or rationalize technologies Standardize policies, rules, and processes across the entire enterprise Implement a shared services model * Adopt best practices or simplify processes across the entire enterprise
27%
73%
Transactional Activities Control Activities Decision Support, Performance Mgmt
80%
The Agile CFO, IBM Business Consulting Services, 2005 * Deloitte Consulting, 2006
Customers:
Centralize, Simplify, Standardize
Work Globally, to be more competitive Think Globally, to make the right decisions Manage Globally, to lower cost and increase performance
Easy Reporting Transparent Audit, Reconciliation & Drilldown Corp. Compliance US GAAP / IAS-IFRS Corp COA Corp Calendar Joint Compliance US GAAP / IAS-IFRS Corp COA Corp Calendar Parent Compliance US GAAP / IAS-IFRS Corp COA Corp Calendar National Compliance Local Regulation National COA Local Calendar
A$+$
Analytics
+$
WORK GLOBALLY
To Be More Competitive
Financial Control & Reporting Credit-to-Cash Procure-to-Pay Treasury & Tax Travel & Expense Asset Management Governance, Risk & Compliance
THINK GLOBALLY
To Make the Right Decisions
MANAGE GLOBALLY
To Lower Cost & Increase Performance
Integration Data Management Reporting
Global:
1. Of, relating to, or involving the entire earth; worldwide: global peace; global monetary policies, etc. Comprehensive; total: a... global, generalized sense of well-being
2.
3. 4. 5. 6.
Tax Engine
Inter Company
Bank Model
Inventory
Receivables
Projects
Work in Process
Purchasing
Payables
Holland
Legal Entity
Denmark
Legal Entity
Functional Tasks
Order Management Dunning, Collections, Billing Requisition, Demand & Purchase Orders Receiving & Drop Ship Invoice Receipt, Disbursement Customer Data Management Accounting Setup
Belgium
Operating Unit
Holland
Operating Unit
Denmark
Operating Unit
Responsibility
Product Reference
Order Management Receivables Procurement Supply Chain Management Payables Trading Community Architecture Accounting Setup Manager
OU field on UI
Subledger Accounting
Work
Think Manage
Single source of truth for all subsystem accounting activity with a common data model and repository Accounting, reconciliation and reporting facilitated by centralized data model
Receivables
Projects
Streamline closing process with common posting engine Auditable and transparent entries accessible with full drilldown
Payables
Subledger Accounting
Centralized Rules, Common Repository: Global Control
Ledger French Rules Plan Comptable French Calendar
What it is
Some Benefits
EUR
Accounting Rules SarBox & 8th Dir. User Editable Subledger Daybooks
(Journals) Subledger Balancing Reports, inquiries, open items, et cetera Multiple Representations Common Posting to GL Ledgers Real time or Periodic
Faster, Easier
Reconciliation Corporate Rules = Accounting Standardization Local Rules = Improved Local Compliance Automate Apples to Apples Adjustments Improved Auditability Improved Internal Control
Dr
Cr
Subledger Accounting
Payables Invoice
Subledger Accounting
Transaction Level Compliance
National Daily Journal Requirements Internal Control: Central Definitions, Eliminate overrides
Policy Enforcement in Volume Processing
Transparent Accounting Rules Debits & Credit at the point of the event Automate Foreign Operation adjustments Event Class: Invoices Reconciliation Event: Invoice Approved Ledger: France (EUR) Platform GL Date: 20-Sep-2005 Description: Office supplies In accordance Type Account Description with the Asset purchase 01.9100010.100 Paris: furniture Misc expense 01.9100020.100 Paris: supplies Underlying Misc expense 01.9100020.200 Nantes: supplies Records Misc expense 01.9100020.300 Nice: supplies
VAT 01.3100060.000 Accounts Payable 01.7000010.000 VAT@17% ABC Supplies
Credit
12,636 12,636
Opening Balance
Debit
Credit
Closing Balance
2,800,000
2,700,000 50,000
10,500,000 3,000,000
24,000,000
750,100 500,000 200,000 100,000 1,000 (650,000) (300,000) (100,000) (501,100) (3,000,000) 1,500,000 300,000 300,000 300,000 150,000 150,000 300,000 -
Closing Balance
Payables Vendor Vendor Vendor Vendor Total I II III IX (250,000) (100,000) (150,000) (250,000) (750,000) 1,000,000 75,000 725,000 1,000,000 2,800,000 900,000 50,000 775,000 975,000 2,700,000 (150,000) (75,000) (200,000) (225,000) (650,000)
Multiple Ledgers
EUR
EUR
or
Dr Cr
Subledger Accounting
Payables Invoice
Single subledger transaction can create multiple accounting representations and in multiple currencies
Subledger Applications
Accounting Configurations
General Ledger
Accounting Events
Accounting Program
Work
Think Manage
Ledger
One Repository of Financial Truth
EUR
The balance on Creditors (COA) is 4.2M Eur (Currency) on March 31, 2006 (Calendar) according to IAS/IFRS definitions (Accounting Method)
Reporting Currency
Ledger Sets
Global Information At A Glance
EUR
EUR
Reporting Currency
Ledger Sets
Global Information At A Glance
Ledger Set Share: Chart of Accounts Calendar
Ledger C US GAAP US COA US Calendar
USD
Ledger D US GAAP US COA US Calendar
EUR
EUR
Reporting Currency
Currency in Release 12
Transaction Currencies Accounting Currency in Primary Ledger Reporting Currency in Primary Ledger More Accounting Currencies in Secondary Ledgers
For every transaction OR For SLA Posting level / GL activity level
Balance level Translation or Remeasurement in Ledgers within Ledger sets, run at one click Balance & Activity level Translation or Remeasurement in Financial Consolidation Hub Enhanced Revaluation
[Functional Currency term dropped: conflicts with IAS 21 / FAS 52]
Ledger Considerations
Ledger Set US Ledger Set Legal Ledger US1 Legal Ledger US2 Legal Ledger US3 Adjustment Ledger US Corporate Ledger Set
adjustments eliminations
UK Ledger Set Legal Ledger UK1 Legal Ledger UK2 Adjustment Ledger UK Adj Ledger Corporate
Automate GAAP / IAS adjustments in an adjusting ledger Eliminate within a Set with GCS Consolidate Formally in FCH Map from a non-conforming COA with a GCS Ledger
Set of 26 Ledgers in one country Euro Zone in One Ledger Set My Corporate Set in US GAAP Statutory Set for Country Y Subs Division X Worldwide Ledger Set
Adjusting Ledger
Corp. wants Just the adjustments, thank you Mapping gets us most of the way to Parent Inventory is the big difference Manageable series of reclassifications Regional Controllership - Corp GAAP administered See theyve been properly adjusted to our rules
Secondary Ledger
Corp. wants a complete Parent GAAP & Currency edition of the Subs books Subsidiary books are quite alien to parents Inventory is one of the big differences National chart of accounts is radically different from corporate Parent Controllership Mexico plant, US parent Every petty cash slip
Work
Think Manage
Regulates
Complies
Legal Entities
Registered Companies, Funds, Partnerships Inc. LLC. Ltd. SA. GmBH. Etc. exist in the outside world
Subsidiary Company
Subsidiary Company
Management Orgs
Divisions, LOBS, Plants, Cost Centers, Whatever = Decision Making Tags
Parent companies (LEs) own or control subsidiaries (LEs) No outside ring - must pick an LE LEs create commercial transactions
Addresses, Officers, etc. Enabled First Party stamp Added Establishments: map Registrations to Authorities GRE/LE not touched Authorities as TCA parties LE Configurator
Tabulate
Setup and maintain: Legal Entities, Establishments, Jurisdictions, Legal Authorities, Legal Addresses
Where LE fits in
Transaction Taxes Complies & Files, Pays
Registrations with Authorities
Operating Units
Establishments
Files Registrations with Authorities
Legal Entity:
Vehicle for compliance
Ledger
Maintains Et Cetera, 11i its Subledger Accounting Setup Manager Legal Registrations Documents Operating Files Entity Assign books, bookkeeping rules and currency management to with Authorities in many OUs Units your registered companies Default Legal Exists EBusiness Tax Context (DLC) Locally Have your registered companies calculate, file, and pay the Accounts transaction taxes they owe for itself
Establishments
Intercompany in a Ledger Do business between and across your registered companies with or BSVs full legal documentation Files Bank Model
Legal Entity:
Have your registered companies use their money to pay their bills, Ledger Registrations Vehicle for compliance with Authorities et cetera
Centralized Set-up
Accounting Setup Manager
Define Legal Entities & Associated Rules Ensure Complete & Accurate Setup via Online Checklist Define Multiple Ledgers for Rules & Currencies One Place to manage Your Global Accounting Rules, Currencies, Ledgers, And Ledger Sets
E-Business Tax
Work
Think Manage
Compliance, Assurance
Extensible
Receivables
Tax Reports
- PDF, HTML, RTF - Security enabled
Tax Transactions
Taxes, Rules
Web UI
Open Interfaces / API Generate subledger invoices Excel (Web ADI) Control transaction entry with Intercompany Calendar Fully Configurable Approval Rules Flexible Security Model Centrally defined Intercompany Accounts XML Publisher Reports Online Reconciliation Reporting
Dr
Cr
General Ledger
Subledger Accounting
Receivables
Payables
AGIS at Work
Rebilling a Corporate Cost from an USA HQ
GL Entries created for US subsidiaries AP and AR Invoices created for France and Italy
Inter Company
California Company
Illinois Company
France Company
Italy Company
Banking Model
Work
Think Manage
Centralized Banking
Shared Services Disbursements
Bank account is now associated with LE entity rather than Operating Unit
OU C
LE
OU A OU B
Single bank account serves multiple Operating Units Any and all Operating Units associated with a ledger can be permitted to use the bank account
Inventory
Receivables
Projects
Work in Process
Purchasing
Payables
Assets
Plus
Centralized Credit Card Model Credit Card Encryption Supplier & Customer Banks in TCA
OU C
Bank
Payments
Invoices
Banks
Legal Entity
Operating Units
Sharing Services
Work
Think Manage
Shared Service Infrastructure (Serves Informal and Formal) Organizational Access Cross Org Processes Banking Model Inter Unit Accounting
Company
Company
Company
Think Globally
Global Ledger Sets worldwide insight Global Reporting
Ledger Set
Manage Globally
Global Accounting Rules Global Set-up Global Integration
Inventory
Receivables
Projects
Work in Process
Purchasing
Payables
MOAC
Purchasing
Payables
Assets
Work in Process
Purchasing
Payables
Assets
Corp. Compliance US GAAP / IAS-IFRS Corp COA Corp Calendar Joint Compliance US GAAP / IAS-IFRS Corp COA Corp Calendar Parent Compliance US GAAP / IAS-IFRS Corp COA Corp Calendar National Compliance Local Regulation National COA Local Calendar
A$+$
+$
Subledger Transactions
TCA, LE
QUESTIONS