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  • 1. Fusion, HFM & Reports Equity Pick-Up module & Customized Intercompany Matching Using the Equity Pick-Up module and an alternative way of doing intercompany matching in one of the latest releases of HFM. Advantages and disadvantages for the closing process, the users and the administrators and the impact on the quality of data reported. November 26, 2009 Evoluon Eindhoven 1
  • 2. Agenda  Introduction of Pearle Europe  Equity Pick-Up in Fusion 11.1.1  New Intercompany matching Process  Questions 2
  • 3. Introduction - Pearle Europe Profile  Professional optical retail company  Started in 1996 with the acquisition of Pearle Netherlands  Since 1996 the Group has entered new (European) markets every year through the acquisition of strong, local retail formats.  Present in 27 countries and 4 continents  Stores: 2,750 optical retail stores (of which 25% franchise)  Sales: over € 1,5 billion in 2008.  FTE’s: 10,400 across Europe.  Main shareholder: HAL, which is listed at Euronext
  • 4. Brand examples Apollo: Germany Avanzi: Italy Synoptik: brand in DK & SW Pearle: 1 of 2 brands in the Netherlands
  • 5. Pearle Group Accounting targets / strategy  Save time on reporting data (Users & Administrators)  Improve quality of data  More focus on data analysis  Extend the use of management reporting in HFM 6
  • 6. Focus of this presentation:  Equity Pick-up  Intercompany Matching 7
  • 7. Pearle’s Equity Pick-Up in HFM v3.4  Equity Pick-up in (Sub) calculation rules  Time consuming manual calculation/translation/consolidation procedure for consolidation from bottom to top level (hours)  Static solution  Extensive code in rules (> 1000 lines)  Poor maintainability  No transparency 8
  • 8. Equity Pick-Up Module – requirements Input Shares Exchange rates Multiple Equity/P&L accounts EquityPickUp routine Dynamic Runs for all entities with shares in subsidiaries Just 100 lines of code Source and destination accounts can be chosen EPU Calculations can be a automatic booking or a correction Output Investment of Holding equals Equity of Subsidiary Result Participations equals result of subsidiary 9
  • 9. Equity Pick-Up calculations – An example assets Holding eq/liab Holding P&L Investm inc 500 Result Subs 500 Investm inc cta … Income o/t yr 500 Investm div … investm … assets Subsidiary eq/liab … Income o/t yr 500 EPU rules Standard rules 10
  • 10. Equity Pick-Up Module – The process Speed 1. Load Data 2. Run EPU 3. Check Results Takes a few Transparency seconds Without details which are calculated by the Customized report EPU routine displays all EPU calculations along with shares %
  • 11. EPU - Report Consolidated Holding Sub % shares owned by Holding Investment in group companies = Equity * % shares owned
  • 12. Questions 13
  • 13. Intercompany Matching (ICM)  Need for more transparency and flexibility  Better high level overview of intercompany bookings  Higher quality of data 14
  • 14. New Intercompany Matching (ICM) Preparations Create metadata to store ICP counterparty details on own entity Create section in calculation rules to populate ICM accounts Create a report (in Fin Reports) to display all ICM amounts ICM routine All entities must load data All entities must be calculated (or consolidated) Details can be checked ICM Report Differences will block Process Control 15
  • 15. Intercompany Matching – The process (1/3) 1. Load Data 2. Run EPU ICM could be before or after EPU, but always 3. Check Results Takes a few after Data load of all seconds Without details entities which are calculated by the Customized report EPU routine displays all EPU calculations along with shares % 4. Run Calculations/Consolidation 5. Check ICM report Customized report displays all Intercompany matching IC amounts of other entities bookings are pulled to own entity
  • 16. Intercompany Matching – The Report (2/3) ICP A ICP B ICP C
  • 17. Intercompany Matching – The Report (3/3) Differences in red exceed All empty lines are the limit and will block suppressed approvement of data ICP A IC party ICP B ICP C Left column: Right column: Receivables Payables of (of IC party) own entity
  • 18. New Intercompany Matching (ICM)  More transparency  Better high level overview  Higher quality of data 19
  • 19. Questions 20