Lintopdrachten overslaan
Verdergaan naar hoofdinhoud
FINANCIAL REPORTING MANUAL
Objectives of financial reporting are, among others, to inform management of the performance in a certain period, to monitor positions and to make decisions. Within each company this is facilitated by one or more information systems. However, what many companies lack is guidelines for its employees which tells them how they should account for transactions and positions that occur. Company specific guidelines provide consistency, compliance and continuity to ensure the reliability of information within an efficient financial process.

All financial reporting is based on certain policies, whether it is IFRS, Dutch GAAP or an internal management reporting standard. These policies are applied to transactions and positions on general ledger accounts, cost centers, reporting lines and movement schedules.

The Fidugiusnet® module Financial Reporting Manual has been developed by auditors and financial reporting  specialists and has all the features to achieve your company's objective:

  • A dashboard provides for an overview of the news items and all recent changes in the accounting manual. The dashboard is
  • The prerequisites for financial reporting are provided, including governance, corporate guidelines, reporting process, reporting calendar, closing instructions, user guidance and training material
  • Accounting policies reflect the overall guidelines tailored to your business operations. Clear, to the point and unambiguous policies with examples ensure the required knowledge within your organization. Further, the policy related FAQ's and an overview of reporting lines and/or SCoA that are relevant for that policy are shown. As the accounting policies contain an archive it is always possible to retrieve effective policies of prior periods.
  • Reporting lines, Standard Chart of Account and Supporting schedules include their definitions, show relationships and interdependencies with accounting policies, cost centers and accounting treatments.
  • Cost centers make clear who within your organization is responsible for which cost center and what cost should be allocated to that cost center
  • For the processes within your company the accounting treatments are discussed to instruct what journal entry's reflect the transaction.

And of course, governance surrounding the updates within the Financial Reporting Manual is ensured!

If required other subjects can be added to the Fidugiusnet® financial reporting module to support your organisation, like workflows (capital expenditure requests) or sharing information with a (pre-defined) user group (management information, templates or operating company narratives). Another option is to include position papers, that describe the accounting treatment applied by the company on specific items such as business combinations or the introduction of a customer loyalty program. These can be are archived for reference and audit.

 

 

 

 

 

 

 

 

 

 The dashboard:

FRM homepage.jpg 

 The accounting policies:

 FRM accppol.jpg