Thursday, June 17, 2021

Oracle FCCS - What are some key features ?

 FCCS customers currently get the following functionality:

  • Robust consolidation features
    • Intercompany Eliminations – Includes default Intercompany Eliminations
    • Journals with Workflow – Includes journal capabilities with configurable workflow
    • Currency Translation – Default currency translation uses PVA method for Flow activities and VAL method for Balance activities
    • Built-in Foreign Exchange/Currency Translation Adjustment Calculations – Automatic calculation of Foreign Exchange on Opening Balance and Movements for each balance sheet account, along with automated Currency Translation Adjustment calculation
    • Automated Cash Flow Reporting – The movement dimension provides automated cash flow reporting through hierarchies and system calculations that require no further rules
    • Multi-GAAP Reporting – Prebuilt functionality includes reporting for Local GAAP and IFRS with the ability to add additional GAAPs for reporting'
    • Detailed Data Source Tracking – Using a dimension for tracking sources of data, including Data
  • Data management capabilities for integration with source systems
  • Workflow support for the close process
  • Audit controls for all activities
  • Reporting, monitoring, and analysis via web and Microsoft Office

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