普华永道财务管理最佳实践之总账.ppt
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➢ JVs per head
PwC175a
3
General Ledger - Best Practice Features
Establish and maintain standing
data
Establish and apply accounting controls
Apply and allocation rules
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
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
information ➢ To apply period end (e.g. monthly) disciplines and
routines to produce periodic financial and management accounts ➢ To support the preparatih fiscal reporting requirements (e.g. VAT)
➢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 awareness ➢ Legal framework
awareness ➢ Provision of quality
information to business
Information Systems
➢ Single source ➢ Integrated with
other ledgers ➢ Data accurate and
➢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
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)
and tax report ➢ Answer queries
General Ledger
Objectives
➢ To be the primary source of financial information ➢ To ensure the integrity of financial management
accounts to meet
in standards and
information needs controls
➢Regulated control of ➢Clearly defined
new account
procedures cover
creation
reconciliation of
➢Periodic check of
Produce periodic financial reporting
and information
Produce statutory accounts
Process Features
➢Common chart of
accounts
➢All users of financial
➢Minimal number of systems fully trained
➢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
Best Practice Financial Processes: General Ledger
2
General Ledger - Best Practice Objectives
Organisation
People
➢ Centralised processing ➢ Economies of scale
PwC175a
3
General Ledger - Best Practice Features
Establish and maintain standing
data
Establish and apply accounting controls
Apply and allocation rules
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
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
information ➢ To apply period end (e.g. monthly) disciplines and
routines to produce periodic financial and management accounts ➢ To support the preparatih fiscal reporting requirements (e.g. VAT)
➢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 awareness ➢ Legal framework
awareness ➢ Provision of quality
information to business
Information Systems
➢ Single source ➢ Integrated with
other ledgers ➢ Data accurate and
➢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
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)
and tax report ➢ Answer queries
General Ledger
Objectives
➢ To be the primary source of financial information ➢ To ensure the integrity of financial management
accounts to meet
in standards and
information needs controls
➢Regulated control of ➢Clearly defined
new account
procedures cover
creation
reconciliation of
➢Periodic check of
Produce periodic financial reporting
and information
Produce statutory accounts
Process Features
➢Common chart of
accounts
➢All users of financial
➢Minimal number of systems fully trained
➢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
Best Practice Financial Processes: General Ledger
2
General Ledger - Best Practice Objectives
Organisation
People
➢ Centralised processing ➢ Economies of scale