214普華永道--財(cái)務(wù)管理最佳實(shí)踐之總賬

1、Best Practice Financial Processes: General Ledger,,General Ledger - Best Practice Objectives,,,,,,,General LedgerObjectives,Organisation,,People,Processes,Controls,Measures,Information Systems,To be the primary source

2、 of financial informationTo ensure the integrity of financial management informationTo apply period end (e.g. monthly) disciplines and routines to produce periodic financial and management accountsTo support the prepa

3、ration of statutory accounts and comply with fiscal reporting requirements (e.g. VAT),Centralised processingEconomies of scale,Maintain cost codesMaintain standing dataRecord & validate financial dataCarry out pe

4、riod end ?? and reportingPrepare cashflow reportsPrepare status report and tax reportAnswer queries,Procedures manualCalendar timetableQuality of dataMonthly routines,,,Days to produce accountsManual Journal entri

5、es per period. (i.e. not system - automated)JVs per head,,Single sourceIntegrated with other ledgersData accurate and timely,Control awarenessLegal framework awarenessProvision of quality information to business,,,

6、,,,,General Ledger - Best Practice Features,Establish and maintain standingdata,Establish and applyaccounting controls,Apply andallocation rules,Produce periodicfinancial reportingand information,Produce statutory

7、accounts,Process Features,Common chart of accountsMinimal number of accounts to meet information needsRegulated control of new account creationPeriodic check of inactive accounts,All users of financial systems fully t

8、rained in standards and controlsClearly defined procedures cover reconciliation of control accountsStandard journal and authorised input forms are usedClear month end cut off processElectronic approval of journals C

9、lear authority levels,Management accounting information is sourced from GL (no reconciliation to financial accounts required)Level of detail is driven by business requirementsAllocation rules are based on agreed rates

10、or service level agreementsConsistent use of account codes across business allowing comparison of costs,Rigorous period end and year end routines to ensure accuracy of dataDetailed procedures applied to reconciliations

11、, accruals and prepaymentsPeriod and financial reports produced within 5 working days of period endFlash results within 1 dayCyclical reconciliation of balance sheet accountsBalance sheet accounts allocated to GL sta

12、ffSoft close for non quarter months,Regular liaison with auditors to minimise ad hoc trail and reporting requirements for statutory reportsCorporation disallowable and allowable tax data controlled through use of chart

13、 of accountsPeriod end timetable communicated to all relevant staff,General Ledger - Best Practice Features,Establish and maintain standingdata,Establish and applyaccounting controls,Apply andallocation rules,Produc

14、e periodicfinancial reportingand information,Produce statutoryaccounts,System Features,Integrated system eliminates duplication of maintenanceLocal variation to common core chart of accountsComprehensive security an

15、d access controlsEfficient copy and editing facilitiesExtra segment (s) provided for future expansion of requirements (fundamental change to business),System allows control prior period postingVariable journal input t

16、ypes such as standard, reversal, recurringSystem controlled month end procedures and processesOn line training and help facilities,System provides control over combination of accounts and cost centresControls applied

17、for use of balance sheet and profit and loss accountsReal time allocation to cost centresAutomatic reconciliation of management and financial accounts,Automatic period end reports producedComprehensive report writer f

18、acilities to provide user defined reportsOne line reporting of information and drill downOn line graphical display or links to EIS systemScreenbased exception reporting,System allows prior year postings and automatic

19、balances carried forwardSystem is sole source of consolidated statutory reporting requirements and holds non financial dataDrill down facilities provides full audit trail on financial dataAdditional period used solely

20、 for year end accountsMulti-currency, multi-country consolidation,General Ledger - Measures/Cost Drivers,Number of reporting periodsNumber of manual interfacesNumber of accounts and cost centresComplexity of costing

21、and reporting structureApproval process for journalsMechanism to calculate accruals and prepayments,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,Med

22、ian,8 days,,,,,,,,,,,,,,,,,,,,,,90 percentile,16 days,90 percentile,Median,10 percentile,Number of journal entries per FTE,486,000,66,600,3,200 or less,General Ledger cost per Business Unit FTE (in £s),,,,,,,,,10 p

23、ercentile,Median,90 percentile,£32,£157,£574,,,,,,,,,,,,,,,,,,10 percentile,3 days,Days to produce monthly management accounts,Cost drivers,Source: Statistics taken from Benchmarking database: 21 January

24、 1997,,General Ledger -Trends,,,,,From,To,Separate GLAnalysis via spreadsheets/ manual inputMultiple source of data across multiple systemsManual reconciliationPerformed by finance department,Integrated global system

25、s and complianceGraphics and analysis/drill down toolSingle source of data via data warehouseAutomatic reconciliationShared or outsourced services,General Ledger - Critical Success Factors,These are a summary of the

26、key business requirements, which must be met to achieve the objectives.Authority levels clearly defined for journals/accrualsGeneral Ledger procedures and guidelines documented Staff trained in GL process and have cle

27、ar roles and responsibilities Period closing and reporting calendar established and communicated to all staff Chart of Accounts and cost centres defined Statutory accounting requirements understood Budget responsi

28、bilities communicated to staff Reconciliation procedures in place,General Ledger - Level 0 Context Diagram,GeneralLedger,AccountsReceivable,AccountsPayable,Purchasing,Payroll,Cost Centres/ OperatingDepartments,Fi

29、xed Assets,ProjectAccounting,Inventory,Audit,Company /Group / HQBoard andExternalAgency,Legal Entities,Billing Accruals,Accounts Receivabledetails,Consolidation / ManagementReports,Budget & Financial Reports,

30、ManagementReports,Assets data (Depreciation etc.),Project details,Inventory details,Check Reconciliation,Statutory, Tax & Regulatory,Management Accountsreports,Payroll details,Commitments,Accounts Payabledetails,

31、Accounting Policies,Billing,,,,,,,,,,,,,,Accruals,,Budgeting & forecasting,Budget data,,Cash Management,CM details,,General Ledger - Level 1 Overview,Businessneeds,Procedural reviewPeriod changesPersonnel change

32、s,COA data,Updateddata,Management Accountant,GL system databasesReport generators, andquery tools, spreadsheets,,,System controls, Timetable,System access rights,Request procedures, COA structure and rules, GL rules

33、 - Notification procedures,Mgt. Acct. User, DBA,G/L d/base,Prescribed Journal format,System controls, &Timetables. On line GLdata validation,Management AccountantSystem clock andprocessesSource info. Departme

34、ntsSub ledger managers,Audit trail / Basicfinancial data,Reconciliation procedures,On line GL data validationSystem controlsAccounting guidelines,Variance analysisReview data,Financial results,Management Account

35、antG/L SystemSpreadsheet reportsLedgers,Reporting controls ReviewManager approval,Reports,Management Accountant G/L System, prior year stats. Financials,Responses,Query handling procedure,Mgt. Acct. Auditors, G/L sys

36、tem, Ledgers, On liequery and download tools, Auditors, Mgt. reports,Financialresults,Basic financial data,Local GAAP rules,Reporting FinancialsManagement Sign offTax rules,Financial Accountant, Management Accountan

37、t G/L System, FD Prior Year Stats. Tax experts User departments,Optional,User query,,System,General Ledger - Notes - Carry out period end routines and reporting,Best practice features (Carry Out Period End Routines)Sing

38、le ledgerSingle calendar Procedures for interfaces (both internal and external)Eliminate manual entries as much as possible to avoid reconciliation problemsAutomatic journals for recurring documents (see GL01) to min

39、imise the manual data inputJournals with automatic reversal postingsBalance sheet accounts allocated to GL staff (integration with related subledgers)At maximum 5 days for closingAutomatic downloads available for ef

40、ficient external report processing.Best practice features (Reporting)Calendar/report scheduleMinimum necessary number of reports to eliminate duplication of information providedAutomatic report processing enabled by

41、flexible report writerRegular contact with auditor to minimise ad hoc queriesSame data for management and statutory reportsFlash report within 1 day, monthly/preliminary year end reports within 5 days.,General Ledger

42、 - Notes (cont …),Internal Control RequirementsAll the interface data and underlying documentation has to be approved by responsible senior manager. The process of acc. operations covers part of the internal control pr

43、ocesses - the reconciliation of the balances with the other processes. The reconciliation rules to be covered by the Accounting Manual. The uniformity of the process procedures within the company has to be achieved as w

44、ell. Each balance has to be approved by appropriate senior manager.The report reconciliation with the actual GL data has to be in place. All the reports have to be signed by senior mgt.Key performance indicators Pro

45、cessing time Number of queries,General Ledger - Notes - Answer queries,Best Practice FeaturesSingle contact point for all queries. Although the query processing can be distributed there are obvious inefficiencies in

46、directing enquiries to a number of contact points.Have access to sufficient data to be able to handle the majority of queries on-line. Internal control requirementsIn order to operate an effective helpdesk, staff wil

47、l require to have access to most parts of the other subsystems.Wherever possible, this should be on a ‘read only’ basis in order to minimise the potential for fraud taking place.Key Performance Indicators Number of qu

48、eries received. Average time taken to process queries. Number of outstanding queries at period end.,General Ledger - Appendix 1 : IDEF Process Flow,The diagram below provides a key to the process diagrams used in this