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FESA Financial & Professional Accounting
- 1. Professional Accounting Managing Global Consolidation with Localization of Financial Management FESA Website: http://www.fesa-s.com Email: avesta@flexsystem.com Last update: 2-Jan-2014
- 2. Scope of Solutions & Services Mix LevelofAutomation&Investment FESA Query FESA Planning FESA Financial FESA Consol FESA Professional Accounting FESA Analyst Budget Planning & Rolling Forecast Management Reporting Regional Financial Management Group Consolidation & Budgeting Multinational Financial Management Analytical Performance Management FESA Consolidation Series
- 3. Transaction Voucher Ledger Report Processing Rules Data Storage Query Formulas Financial & Professional Accounting Posting Options
- 4. Financial & Professional Accounting Financial and Processional Accounting dealt with more scenario, dimensional, and dynamic views of financial management in both operational and strategic levels. Some of the following sub-systems specialized in different areas of extended finance functions are matching with the current priorities of your organizations: FESA Job Management FESA Lease FESA Payable FESA Payroll FESA Receivable FESA Reconciliation FESA Reimbursement FESA Revaluation FESA Procurement FESA Treasury FESA Allocation FESA Amortization FESA Billing FESA Budget Control FESA Disclosure FESA Financial Close FESA Fixed Asset FESA Incentive FESA Inter-company FESA Inventory Many organizations during the last two decades have been moving from disconnected systems to centralize ERP systems now reviewing the current implementations in front of new challenges and new technologies.
- 5. Financial & Professional Accounting These add-on sub-systems of Financial & Professional Accounting can be classified in to three main streams of specialization: Other Advanced Accounting specialization • Financial Close – Revaluation – Allocation – Amortization – Reconciliation – Disclosure – And More.. Assets & Liabilities Specialization • Fixed Asset • Inventory • Treasury – Receivable – Lease – Payable – Payroll – Incentive – Inter-company – And More.. • And More.. Other Business Process Specialization • Job Management • Billing • Procurement • Budget Control • Reimbursement • And More..
- 6. Managing Relevant Scenarios of Liabilities Throughout Every Stage of Liability Life Cycle FESA Payable
- 7. LiabilityScenarios Recorded Liabilities Plan Obligation Approved Budget Approved PR & Signed PO Commitments Possible Obligation Contingent Liabilities Uncertain Settlement Present Obligation Received Goods / Rendered Services Determining on D/N, GRN, PO, Invoice and/or Creditor Statement Trade Payables Other Payables Estimation Accrued Expenses Financing Loan Bank Overdrafts Bills Payables Interest Payables Unrecorded Liabilities Discrepancy Against Creditors Negative Liabilities Duplicated Settlement Over Settlement Settle Without Elim Receivables Relevant Liability Scenarios Provision ContractingParties
- 8. Outflow of Resources to Contracting Parties Shareholders Fellow Subsidiaries Holdings Subsidiaries JVs & Associates Key Management Employees Customers Suppliers Service Providers Banker Regulatory Bodies Multi-face of Contracting Parties Any of your creditor may be changing their face from time to time These creditors can have different contractual relationships with your group at the same time They may have requested you to settle liabilities with different scenarios over time They may deal with your group across different business units and companies
- 9. Managing Seven Stages of Liability Life Cycle Budgeted Liabilities • Approved Budget Utilizing Budgeted Liabilities • Approved Purchase Requisitions Committed Liabilities • Signed Purchase Orders Incurred Liabilities • Received Goods or Rendered Services Invoiced Liabilities • Received Invoices Confirmed Liabilities • Confirmed Contracting Parties Settled Liabilities • Registered Evidences Minimizing Financial Risks: • Overdue Settlement • Unrecorded Liabilities • Duplicated/Over Settlement • Late Closing of Total Liabilities • Over Utilization of Budgeted Liabilities
- 10. Relevant Liability Dimensions for Every Stages of Liability Life Cycle Budgeted Liabilities Utilizing Budgeted Liabilities Committed Liabilities Incurred Liabilities Invoiced Liabilities Confirmed Liabilities Settled Liabilities Analyzed by consolidation group, legal entity & business unit Analyzed by date, expense and liability nature, department & project Analyzed by contracting party & relationship Analyzed by contracting currency Analyzed by aging (incur & due date) Analyzed by movement type Analyzed by settlement type ContractingParties
- 11. Managing Risk of Holding Inventories FESA Inventory
- 13. Sale Amount and Quantity Cost Amount and Quantity Purchase Amount and Quantity Stock Amount and Quantity Sell Thru % = Qty Sold / (Qty On-Hand + Qty Sold) Gross Profit % = ( Sale Amount – Cost Amount ) / Sale Amount Inventory Measurements No longer deal with merely FIFO and EOQ measurement
- 14. Summary to Summery Reporting
- 15. Maximizing the Relevance of Financial Information for Decision Making FESA Allocation
- 16. Service Department HR Finance Admin Marketing IT Others Hotel Retailing Financial Services Other Business •••••••••••••••••••••••••••••••••• Business Unit FESA Allocation
- 18. Web & Windows Login Client
- 19. Connectivity • Internet and cloud ready • Thin-client technology (support low bandwidth) • Web and Windows/Excel login client Scalability • Multi-user • Message center • Scheduling and queuing Usability • Multi-language • Rich user interface Security • Data encryption • Server activity log Extensibility • Application expression (AX) • System integration (Internal and external) FESA (A 5-tiers Software Architecture)
- 20. Standardization Control Collection Elimination Versioning Tagging Alert Aggregation FESA Configuration Configuration Configuration ConfigurationConfigurationConfiguration Configuration Configuration Configuration ConfigurationConfigurationConfiguration Configuration Configuration Configuration ConfigurationConfigurationConfiguration Configuration Configuration Configuration ConfigurationConfigurationConfiguration Configuration Configuration Configuration ConfigurationConfigurationConfiguration Configuration Configuration Configuration ConfigurationConfigurationConfiguration AVESTA @ 6 Major Software Modules ReportingStorageTransformation
- 21. Standardization FESA Planning FESA Consol FESA Financial Elimination Versioning FESA Analyst Tagging Alert FESA Pro A/C Aggregation FESA Query Audit Trial & Reporting Efficient Efficient Efficient Efficient Optimize Optimize Dual Models Common Data Set Dynamic Lookup Dynamic Lookup Multi- dimension Lookup Dynamic Lookup Dynamic Lookup Process & Analytical Process Management Process Management Process Management & Ana. Group Process Management Process Management Common Data Set Common Data Set Query Formula Reporting Audit Trial & Reporting Audit Trial & Reporting Audit Trial & Reporting Audit Trial & Reporting Multi- dimension Lookup Analysis Group Process Management & Ana. Group N/A AVESTA @ 6 Major Solutions Query Formula Query Formula Dual Models Dual Models
- 22. FESA Planning FESA Consol FESA Financial FESA Analyst FESA Pro A/C FESA Query Allocation, Currency & Mapping Rule-based Entry Screen & Upload Triple Models CustomizeStandard Upload Excel N/A Dual Data Store Basic Standard Basic + Optional Triple Models Amortization Rule-based Rule-based Dual Data Store Dual Data Store Dual Data Store Optimize Data Store Optimize Data Store Customize Customize Standard + Optional Standard + Optional Standard + Optional Advanced + Optional Advanced + Optional Standard + Optional Standard + Optional Standard + Optional Standard + Optional Standard + Optional Advanced + Optional Upload Excel Upload Excel Control Collection FESA Reporting Storage Transformation 6 Major Modules @ 6 Major Solutions