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Financial Consolidation and Close (FCCS) - New and Upcoming Features

Tanya Heise
Sr Principal Technical Support Engineer

Financial Consolidation and Close (FCCS)

New and Upcoming Features

Thank you to Maggie Reed and Keith Glide for the presentation on this topic. Please be advised that Oracle Safe Harbor applies and the specified dates are subject to change.

 

Translated Currency Input Journals: ( 20.07)

  • Journals - Allow ability to create and post journals to different currency than entity currency
  • Processing
    • Journals posted to input currencies in new Consolidation member
      • FCCS_Translated Currency Input under FCCS_Entity Total
    • Journal data copied to Parent Currency and/or Reporting Currency
    • No FX Calculations
    • There is no consolidation or calculation on the Posted Input Currency data
      • Exceptions are copy and clear rules and on demand rules
      • On demand rules can be used to populate other input currencies from a posted journal.

 

Intercompany Aggregation: (20.06)

  • Options
    • Addition (existing)
    • Ignore (new)
    • Subtraction (new)
  • Changes to Standard Elimination processing
    • Addition / Subtraction:
      • Reversal of the source I/C entry
      • Posting to the plug account (to No Intercompany if the plug account is not an I/C account, to the I/C partner otherwise)
    • Ignore:
      • Reversal of the source I/C entry and reversal of the same amount to No Intercompany
      • Posting to the plug account (to No Intercompany only if the plug account is not an I/C account, to both the No Intercompany and I/C partner otherwise)

 

YTD Journals (20.06)

  • Journals - Ability to enter a year-to-date amount
  • Processing
    • Periodic (existing)
      • Data entered as periodic amounts and FCC posts the periodic amounts
      • If no journal data entered to a period, the periodic amount is assumed to be zero (i.e. periodic “zero view”)
      • The YTD view equals the accumulation of periodic amounts from period 1 to the current period
    • YTD (new)
      • Data entered as YTD amounts and FCC calculates and posts the required periodic amounts
      • The YTD view equals the accumulation of periodic amounts from period 1 to the current period
      • If no YTD journal data amounts are entered to any of periods 2 up to the last period, the YTD amount is assumed to be zero (i.e. YTD “zero view”) so FCC posts a reversal of the prior period YTD amounts
      • In period 1, there is no reversal of any YTD journals posted to the last period of the prior year
      • The YTD view equals the accumulation of periodic amounts from period 1 to the current period which will be zero
    • JTD (new)
      • Data entered as JTD amounts and FCC calculates and posts the required periodic amounts
      • The YTD view equals the accumulation of periodic amounts from period 1 to the current period
      • If no JTD journal data amounts are entered to any period (including period 1), the JTD amount is assumed to be zero (i.e. JTD “zero view”) so FCC posts a reversal of the prior period JTD amounts
      • In period 1, there IS a reversal of any JTD journals posted to the last period of the prior year
      • The YTD view equals the accumulation of periodic amounts from period 1 to the current period which might not be zero if the JTD posting began in the prior year

 

Parent Input / Contribution Input: (20.07)

Consolidation dimension

  • New Parent Input (and Parent Total) and Contribution Input (and Contribution Total) members
  • Entity Input data (existing) is common to all (shared) instances of an entity
  • Parent Input and Contribution Input data are limited to the Parent.Child combinations specified
  • Parent Input data is pre-proportionalization (i.e. is part of the source data that is proportionalized to the Proportion member and eliminated / adjusted to the Elimination member)
  • Contribution Input is post-proportionalization (i.e. is a direct contribution to Entity Consolidation of the specified parent)
  • Parent Input and Contribution Input are both entered in Parent Currency
  • Currently, loading a data file with data for any entity in Replace mode will clear all data for that entity, including Entity Input, Parent Input, Contribution Input

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References:

 

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