Written by Chris Busbee Monday, June 18 2007
Learn to create Financial Statement Generator (FSG) reports that are reusable and easy to maintain. The FSG's are powerful tools that can be used to produce a variety of traditional reports such as balance sheets, profit and loss statements, income statements, expense analyses and gross margin reports.
There are many time-saving ways to construct and test the reports. Once the "standard" reports are developed, more sophisticated reports can be generated.
Overview
Each report is made up of several components. Each component is featured on a screen and has many fields that allow for a great deal of flexibility. Each screen allows the user to input display characteristics, state override segments, input offsets, and add levels of detail. In order to successfully create uniform, reusable reports, it must be determined where and how the different features of the FSG will be used.
Financial Statement
Here is the breakdown of a financial statement:
- Rows – Detail of the report (row headings, accounts or flexfield assignments, calculations, totals)
- Columns – Different periods, companies or consolidations. Usually, pre-defined column sets work with minor modifications.
- Report – A single combination of a row set and column set with an optional content set and an optional row order.
- Content Sets (optional) – Grouping of the same row sets and column sets sorted by a flexfield segment.
- Row Order (optional) – Display and sorting characteristics of rows in a report. Used primarily to insert the segment value (like account number) or to utilize the description of the segment value.
- Display Set (optional) – Used to block out ranges of rows or column sets simultaneously.
- Report Set – A group of reports that are run together.
Getting Started
1. Create a row set that includes all accounts in the chart of accounts. Call it a row master. For all other reports, copy this row set and delete individual rows that are not wanted in a specific report. For all other segments, include the entire range of segment values (all cost centers, all companies, etc.) on the account assignment.
2. Give each report component a unique name.
3. Assign descriptive names to the row set being copied such as "Balance Rows" or "Expense Rows".
4. Note that the "Title" field is what shows up on the printed report. There is a single line for the title, and it will print in the center of the page underneath the "Set of Books Name". The third title line of the report is the "Period" for which the report is run. The date and time of the report and a page number will print on the upper left corner of each page. Additional title lines can be typed into the "Column Set Heading" field.
5. Draw each report on an Excel spreadsheet. Note similar flexfield assignments, calculations and totals for each report. Determine standard characteristics for the rows. For example, always group cash accounts together and report them as one total line. But list expense accounts individually on all reports.
6. Assign sequence numbers for each row to reflect the accounts in that row. Use the same number of digits as the value for the accounts in that row. The account number order is generally the order in which reporting is usually completed. Examples include:
- Sequence numbers for all asset rows might start with a 1xxxx.
- Rows with cash accounts might have a sequence number of 11xxx.
- Rows with liability accounts might have a sequence number of 3xxxx.
7. Make sure the sequence number reflects the type of row.
- Rows with sequence numbers ending in 0 or 00 should be header rows or subtitles.
- Sequence number 11000 should be a header row with no account assignments or calculations and should be titled "Cash Assets".
- Rows ending in 99,999 or 9999 should be totals or subtotals.
- Sequence 11999 would be a subtotal of all cash asset rows.
- Sequence 19999 would be a net of all asset rows.
Parallel the names and numbers in the values for the account segment of the flexfield, and use the 9 as a parent or summary account. Have the value description read "Total Current Assets" or "Net Accounts Receivable". Enter the value set descriptions in a form that does not require substantial retyping.
8. Autocopy completed row sets, and then make modifications for each of the other reports. Autocopy all report components (column sets, content sets, row orders, reports, and report sets).
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January Puzzle
A traveler gets lost on a deserted island and finds himself surrounded by a group of n cannibals.
Each cannibal wants to eat the traveler but, as each knows, there is a risk. A cannibal that attacks and eats the traveler would become tired and defenseless. After he eats, he would become an easy target for another cannibal (who would also become tired and defenseless after eating).
The cannibals are all hungry, but they cannot trust each other to cooperate. The cannibals happen to be well versed in game theory, so they will think before making a move.
Does the nearest cannibal, or any cannibal in the group, devour the lost traveler?
Solution
The short answer is the traveler’s fate depends on the parity of the group. If there is an odd number of canibals, the traveler will be eaten, but if there is an even number, the traveler will survive.
To prove this, we will consider small groups and use mathematical induction to explain the solution for larger groups.
Case n = 1: this is an obvious case. If there is one cannibal, the traveler will be eaten. It doesn’t matter that the cannibal will get tired because there are no other cannibals around as a threat.
Case n = 2: this is a more interesting case. Each cannibal wishes to each the traveler, but each knows he cannot. If either cannibal eats the traveler, then he will become defenseless and the other one will eat him. So each cannibal uses backwards induction to realize that the only strategy is to not eat the traveler. The hapless traveler finds a bit of luck, therefore, and actually survives.
Case n = 3: this is where the problem gets interesting. The best strategy is for the closest cannibal to make a move and eat the traveler. The cannibal will be defenseless after eating, but ultimately he will be safe. Why is that? The reasoning is due to induction: once the cannibal eats the traveler, the resulting situation has 2 unfed cannibals and the 1 defenseless cannibal. But as we just showed above, when there are 2 unfed cannibals, neither will make a move for fear of being eaten by the other! Thus the first cannibal to make a move will be safe as the remaining 2 cannibals block each other.
We can prove the higher cases using mathematical induction. If the number n is odd, then the closest cannibal can safely eat the traveler because the remaining number of unfed cannibals is even (and by induction, with an even number of unfed cannibals no one makes a move). If the number n is even, then no cannibal will eat the traveler, for if he did, the remaining number of cannibals would be odd, meaning he will get eaten by the induction hypothesis.
Success Tips for Oracle Project Management
- Create a standard for documentation at the beginning of your project, and hold team members accountable for completing documentation requirements as well as keeping them at and above the standards required.
- Before promulgating user documentation or training, it’s also a good idea to choose a representative from the among the business users base to review materials first.
- If you are not sure about the resources and budget required, obtain several estimates from people that have experience with the same size and scope of your project.
- Be explicit, before beginning the project, what internal resources are required for execution. This includes people, infrastructure, hardware, and software.
- Help the project champion understand the impact your project will have on the organization and how its successful completion will make him or her an internal hero or heroine for supporting it.
- Break up your project into smaller projects (try for projects that can be completed in 4-6 months, especially early on) to get success and demonstrate momentum.
- Make sure that your testing includes reports, upstream and downstream interfaces, customizations, enhancements, and workflows.
- Ensure that comprehensive transition reports and meetings between departing and incoming personnel are completed.
- Instead of spending time and resources implementing third-party reporting, consider consolidating multiple instances, moving to a global chart of accounts (CoA), and/or standardizing on a consistent calendar.
- Include governance, risk, and compliance management as part of the project plan.
- Finally, celebrate the successes. Too many projects focus on defects, failures, or small cost over-runs without looking at the big picture and what was accomplished.
The Analyst Corner
John Van Decker, Research VP of Gartner, states:
"A single chart of accounts allows consistency in financial reporting across the enterprise by standardizing on common metrics and reporting structures, reduces dependencies on a separate financial consolidation system, and significantly reduces the costs incurred with ongoing, complex conversions and translations."
