元妙网提示：本资料内含如下文件:fin-gl.ppt,fin-ap.ppt,fin-ar.ppt,fin-cm.ppt,fin-fa.ppt,fin-fa-best practice.ppt,fin-pa.ppt
Best Practice Financial Processes: General Ledger General Ledger - Best Practice Objectives General Ledger - Best Practice Features General Ledger - Best Practice Features General Ledger - Measures/Cost Drivers General Ledger -Trends General Ledger - Critical Success Factors These are a summary of the key business requirements, which must be met to achieve the objectives. Authority levels clearly defined for journals/accruals General Ledger procedures and guidelines documented Staff trained in GL process and have clear 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 responsibilities communicated to staff Reconciliation procedures in place General Ledger - Level 0 Context Diagram General Ledger - Level 1 Overview General Ledger - Notes - Carry out period end routines and reporting Best practice features (Carry Out Period End Routines) Single ledger Single calendar Procedures for interfaces (both internal and external) Eliminate manual entries as much as possible to avoid reconciliation problems Automatic journals for recurring doc…………
Best Practice Financial Processes: Accounts Payable Accounts Payable - Best Practice Objectives Accounts Payable - Best practice features Accounts Payable - Best practice features Accounts Payable - Measures/Cost drivers Accounts Payable - Trends Accounts Payable - Critical Success Factors These are a summary of the key business requirements, which must be met to achieve the objectives. Accounts Payable - Appendix 1 : IDEF Process Flow Accounts Payable - Level 0 Context Diagram Accounts Payable - Level 1 Overview Accounts Payable - Notes Maintain Supplier Details Best Practice Features Shared supplier database with Purchasing. Purchasing responsible for approving suppliers (having made the required checks), agreeing terms and conditions and maintaining general and purchasing related supplier details on the database, including payment terms. Accounts Payable responsible for maintaining all payment related supplier data, such as bank details, payment method, payee name and address, payment contacts. Shared employee database with Human Resources. Employee details are maintained by Human Resources, but sufficient details must be held and maintained by Accounts Payable, to allow paymen…………
Best Practice Financial Processes: Project Accounting Project Accounting - Best Practices Objectives Project Accounting - Best practice features Project Accounting - Best practice features Project Accounting - Critical Success Factors Project team led, finance supported. Participative approach to financial project management leading to real buy-in; Comprehensive communication and training to maximise benefits of better information Standard formats and means of data collection / consolidation in place with manageable level of detail; Timetable in place with deadlines for inputting costs and timesheets agreed; Guidelines clearly defined and communicated; Effective communication and feedback mechanisms in place between central group(s) and project / job managers; Approval levels and responsibilities clearly defined; Effective use of management time during the review process; Integrated systems in place with software to support on line reporting and analysis by operating management; Strong analytical support to decision making, by both finance departments and project teams; Efficient use of IT, to ensure project managers receive timely and accurate information. Project Accounting - Is…………
Best Practice Financial Processes: Accounts Receivable Account Receivable - Best Practice Objectives Accounts Receivable - Best Practice Features Accounts Receivable - Best Practice Features Accounts Receivable - Trends Accounts Receivable - Measures/Cost Drivers Billing - Measures/Cost Drivers Accounts Receivable - Level 0 Context Diagram Accounts Receivable - Level 1 Overview Accounts Receivable Notes Maintain customer data Best Practice Features Send bill to one address only. Where a customer is provided with goods or services at a number of locations, the consolidation in the billing process not only reduces the number of bills to be verified or created but also decreases the potential need to reconcile a number of receivables on individual accounts. Centralise the customer set-up process in order to ensure consistency. Internal control requirements In order to minimise the risk of duplication of the data and the unauthorised set-up of customers, the process should be centrally controlled and operated. Before any customer is deleted from the system, evidence should be produced that the customer has been inactive for the appropriate period of time and no outstanding balances ar…………
Best Practice Financial Processes: Fixed Assets Fixed Assets - Best Practice Objectives Fixed Assets - Best Practice Features Fixed Assets - Best Practice Features Fixed Assets - Measures/Cost Drivers Fixed Assets - Trends Fixed Assets - Critical Success Factors These are a summary of the key business requirements, which must be met to achieve the objectives. Fixed Assets - Level 0 Context Diagram Fixed Assets - Level 1 Overview Fixed Assets - Notes on Maintain Standing Data Best Practice Features Asset accounting polices clearly documented; Master Data set up on the system to reflect these policies Appropriate coding by asset category established Procedures surrounding the Fixed Asset process are documented and communicated to staff including requirements for issuing new codes Asset Register Rules incorporated into Master File, which control issues of new numbers within structured coding scheme Staff trained in Fixed Asset Accounting processes and have clear roles and responsibilities. They should have a good understanding of network and engineering areas Supervisory staff understand statutory and tax requirements Internal Control Requirements Once entered, updates should be veri…………
Best Practice Financial Processes: Cash Management Cash Management - Best Practice Objectives Cash Management - Best Practice Features Cash Management - Best Practice Features Cash Management - Critical Success Factors These are a summary of the key business requirements, which must be met to achieve Cash management objectives. Electronic Interfaces with Accounts Payable, Accounts Receivable, Payroll and General Ledger Establish and maintain good relations with banks Agree Finance terms Reconcile bank accounts on a regular basis EDI for the majority of payments and receipts Automated bank reconciliation systems and processes Cash monitoring and forecasting techniques provide first class accuracy Integrated on line systems to audit trail cash transactions Operate minimum petty cash and foreign currency floats Separation of Cash management staff duties from other finance operations Cash Management - Measures / Cost Drivers Measures Cost of Capital Number of bank accounts Number of banking relationships Number of outstanding reconciling items < 3 months old Difference of interest rate of cash accounts vs. Money Market rates per currency Percentage of cash transactions effected electr…………
Best Practice Financial Processes: Fixed Assets Fixed Assets - Best Practice Objectives Fixed Assets - Best Practice Features Fixed Assets - Measures/Cost Drivers Fixed Assets - Trends Fixed Assets - Critical Success Factors These are a summary of the key business requirements, which must be met to achieve the objectives. Fixed Assets - Level 0 Context Diagram Fixed Assets - Level 1 Overview Fixed Assets - Level 2 FA1.1 Maintain Standing Data Fixed Assets - Notes on Maintain Standing Data Best Practice Features Asset accounting polices clearly documented; Master Data set up on the system to reflect these policies Appropriate coding by asset category established Procedures surrounding the Fixed Asset process are documented and communicated to staff including requirements for issuing new codes Asset Register Rules incorporated into Master File, which control issues of new numbers within structured coding scheme Staff trained in Fixed Asset Accounting processes and have clear roles and responsibilities. They should have a good understanding of network and engineering areas Supervisory staff understand statutory and tax requirements Internal Control Requirements Once entered, updates s

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