财务管理最佳实践之总账
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➢ JVs per head
3
General Ledger - Best Practice Features
Establish and maintain standing
data
Establish and apply accounting controls
Apply and allocation rules
timely
Controls
➢ Procedures manual ➢ Calendar timetable ➢ Quality of data ➢ Monthly routines
Measures
➢ Days to produce accounts
➢ Manual Journal entries per period. (i.e. not system automated)
➢Real time allocation to cost centres
➢Automatic reconciliation of management and financial accounts
➢Automatic period end reports produced
➢Comprehensive report writer facilities to provide user defined reports
multiple systems ➢ Manual reconciliation ➢ Performed by finance department
➢On line training and help facilities
➢System provides control over combination of accounts and cost centres
➢Controls applied for use of balance sheet and profit and loss accounts
➢Corporation disallowable and allowable tax data controlled through use of chart of accounts
➢Period end timetable communicated to all relevant staff
4
information ➢ To apply period end (e.g. monthly) disciplines and
routines to produce periodic financial and management accounts ➢ To support the preparation of statutory accounts and comply with fiscal reporting requirements (e.g. VAT)
Best Practice Financial Processes: General Ledger
2
General Ledger - Best Practice Objectives
Organisation
People
➢ Centralised processing ➢ Economies of scale
General Ledger cost per Business Unit FTE (in £s) £157
£32
10 percentile Median
£574 90 percentile
Cost drivers ➢ Number of reporting periods
➢ Number of manual interfaces
➢System is sole source of consolidated statutory reporting requirements and holds non financial data
➢Drill down facilities provides full audit trail on financial data
and information
Produce statutory accounts
System Features
➢Integrated system eliminates duplication of maintenance
➢Local variation to common core chart of accounts
➢Comprehensive security and access controls
➢Efficient copy and editing facilities
➢Extra segment (s) provided for future expansion of requirements (fundamental change to business)
accounts to meet
in standards and
information needs controls
➢Regulated control of ➢Clearly defined
new account
procedures cover
creation
reconciliation of
➢Periodic check of
➢System allows control prior period posting
➢Variable journal input types such as standard, reversal, recurring
➢System controlled month end procedures and processes
486,000
66,600
3,200 or less
90 percentile
Median
10 percentile
Days to produce monthly management accounts
3 days
8 days
16 days
10 percentile
Median
90 percentile
General Ledger - Best Practice Features
Establish and maintain standing
data
Establish and apply accounting controls
Apply and allocation rules
Produce periodic financial reporting
➢Allocation rules are based on agreed rates or service level agreements
➢Consistent use of account codes across business allowing comparison of costs
➢Rigorous period end and year end routines to ensure accuracy of data
➢Detailed procedures applied to reconciliations, accruals and prepayments
➢Period and financial reports produced within 5 working days of period end
➢Flash results within 1 day ➢Cyclical reconciliation of
Source: Statistics taken from Benchmarking database: 21 January 1997
General Ledger -Trends
From
➢ Separate GL ➢ Analysis via spreadsheets/ manual
input ➢ Multiple source of data across
➢Additional period used solely for year end accounts
➢Multi-currency, multi-country consolidation
5
General Ledger - Measures/Cost Drivers
Number of journal entries per FTE
➢Management accounting information is sourced from GL (no reconciliation to financial accounts required)
➢Level of detail is driven by business requirements
Processes
➢ Maintain cost codes ➢ Maintain standing data ➢ Record & validate
financial data ➢ Carry out period end ??
and reporting ➢ Prepare cashflow
reports ➢ Prepare status report
control accounts
inactive accounts ➢Standard journal and
authorised input
forms are used
➢Clear month end cut
off process
➢Electronic approval
of journals
➢Clear authority levels
Produce periodic financial reporting
and information
Produce statutory accounts
Hale Waihona Puke Baidu
Process Features
➢Common chart of
accounts
➢All users of financial
➢Minimal number of systems fully trained
➢One line reporting of information and drill down
➢On line graphical display or links to EIS system
➢Screenbased exception reporting
➢System allows prior year postings and automatic balances carried forward
➢ Number of accounts and cost centres
➢ Complexity of costing and reporting structure
➢ Approval process for journals
➢ Mechanism to calculate accruals and prepayments
balance sheet accounts ➢Balance sheet accounts
allocated to GL staff ➢Soft close for non quarter
months
➢Regular liaison with auditors to minimise ad hoc trail and reporting requirements for statutory reports
and tax report ➢ Answer queries
General Ledger
Objectives
➢ To be the primary source of financial information ➢ To ensure the integrity of financial management
➢ Control awareness ➢ Legal framework
awareness ➢ Provision of quality
information to business
Information Systems
➢ Single source ➢ Integrated with
other ledgers ➢ Data accurate and
3
General Ledger - Best Practice Features
Establish and maintain standing
data
Establish and apply accounting controls
Apply and allocation rules
timely
Controls
➢ Procedures manual ➢ Calendar timetable ➢ Quality of data ➢ Monthly routines
Measures
➢ Days to produce accounts
➢ Manual Journal entries per period. (i.e. not system automated)
➢Real time allocation to cost centres
➢Automatic reconciliation of management and financial accounts
➢Automatic period end reports produced
➢Comprehensive report writer facilities to provide user defined reports
multiple systems ➢ Manual reconciliation ➢ Performed by finance department
➢On line training and help facilities
➢System provides control over combination of accounts and cost centres
➢Controls applied for use of balance sheet and profit and loss accounts
➢Corporation disallowable and allowable tax data controlled through use of chart of accounts
➢Period end timetable communicated to all relevant staff
4
information ➢ To apply period end (e.g. monthly) disciplines and
routines to produce periodic financial and management accounts ➢ To support the preparation of statutory accounts and comply with fiscal reporting requirements (e.g. VAT)
Best Practice Financial Processes: General Ledger
2
General Ledger - Best Practice Objectives
Organisation
People
➢ Centralised processing ➢ Economies of scale
General Ledger cost per Business Unit FTE (in £s) £157
£32
10 percentile Median
£574 90 percentile
Cost drivers ➢ Number of reporting periods
➢ Number of manual interfaces
➢System is sole source of consolidated statutory reporting requirements and holds non financial data
➢Drill down facilities provides full audit trail on financial data
and information
Produce statutory accounts
System Features
➢Integrated system eliminates duplication of maintenance
➢Local variation to common core chart of accounts
➢Comprehensive security and access controls
➢Efficient copy and editing facilities
➢Extra segment (s) provided for future expansion of requirements (fundamental change to business)
accounts to meet
in standards and
information needs controls
➢Regulated control of ➢Clearly defined
new account
procedures cover
creation
reconciliation of
➢Periodic check of
➢System allows control prior period posting
➢Variable journal input types such as standard, reversal, recurring
➢System controlled month end procedures and processes
486,000
66,600
3,200 or less
90 percentile
Median
10 percentile
Days to produce monthly management accounts
3 days
8 days
16 days
10 percentile
Median
90 percentile
General Ledger - Best Practice Features
Establish and maintain standing
data
Establish and apply accounting controls
Apply and allocation rules
Produce periodic financial reporting
➢Allocation rules are based on agreed rates or service level agreements
➢Consistent use of account codes across business allowing comparison of costs
➢Rigorous period end and year end routines to ensure accuracy of data
➢Detailed procedures applied to reconciliations, accruals and prepayments
➢Period and financial reports produced within 5 working days of period end
➢Flash results within 1 day ➢Cyclical reconciliation of
Source: Statistics taken from Benchmarking database: 21 January 1997
General Ledger -Trends
From
➢ Separate GL ➢ Analysis via spreadsheets/ manual
input ➢ Multiple source of data across
➢Additional period used solely for year end accounts
➢Multi-currency, multi-country consolidation
5
General Ledger - Measures/Cost Drivers
Number of journal entries per FTE
➢Management accounting information is sourced from GL (no reconciliation to financial accounts required)
➢Level of detail is driven by business requirements
Processes
➢ Maintain cost codes ➢ Maintain standing data ➢ Record & validate
financial data ➢ Carry out period end ??
and reporting ➢ Prepare cashflow
reports ➢ Prepare status report
control accounts
inactive accounts ➢Standard journal and
authorised input
forms are used
➢Clear month end cut
off process
➢Electronic approval
of journals
➢Clear authority levels
Produce periodic financial reporting
and information
Produce statutory accounts
Hale Waihona Puke Baidu
Process Features
➢Common chart of
accounts
➢All users of financial
➢Minimal number of systems fully trained
➢One line reporting of information and drill down
➢On line graphical display or links to EIS system
➢Screenbased exception reporting
➢System allows prior year postings and automatic balances carried forward
➢ Number of accounts and cost centres
➢ Complexity of costing and reporting structure
➢ Approval process for journals
➢ Mechanism to calculate accruals and prepayments
balance sheet accounts ➢Balance sheet accounts
allocated to GL staff ➢Soft close for non quarter
months
➢Regular liaison with auditors to minimise ad hoc trail and reporting requirements for statutory reports
and tax report ➢ Answer queries
General Ledger
Objectives
➢ To be the primary source of financial information ➢ To ensure the integrity of financial management
➢ Control awareness ➢ Legal framework
awareness ➢ Provision of quality
information to business
Information Systems
➢ Single source ➢ Integrated with
other ledgers ➢ Data accurate and