Financial Consolidation and Close Data Model Overview

The Financial Consolidation and Close "data model" starts with applying some basic rules, for example that Opening Balance = Closing Balance Prior Period, account-by-account.

This rule is amended in a balanced manner in several specific instances:

• First period of the year — Retained Earnings Total/ Closing Balance / Prior Period is carried forward to Retained Earnings Prior / Opening Balance.

  As a result, base members of Retained Earnings Total have no Opening Balance.

• Period 2 through 12 / 13 — Net Income (or Owner's Income if Ownership Management is enabled) / Closing Balance / Prior Period is carried forward to FCCS_REC OBFXCTA.

  As a result, base members of Net Income (or Owner's Income) have no Opening Balance.

• All periods — Total Other Comprehensive Income / Closing Balance / Prior Period is carried forward to FCCS_OR_OBFXCICTA / Opening Balance for Revenue and Expense type accounts.

  As a result, base Revenue/Expense members of Total Other Comprehensive Income have no Opening Balance (other Asset / Liability / Equity accounts do have a Closing Balance to Opening Balance carry forward on an account-by-account basis).

So within the total Other Comprehensive Income hierarchy, accounts can be added using the appropriate account type setting, based on how you expect the account to be treated in terms of Closing Balance to Opening Balance carry forward. Revenue and Expense will carry forward to one single account (FCCS_OR_OBFXCICTA), while the remaining accounts will carry forward account-by-account. If Asset / Liability / Equity are used, and parent / subtotal accounts are created in the hierarchy to provide groupings (creating a "matrix" of data across the Account/Movement dimensions), then a combination of the Account and the Movement member can provide any variation of reporting that is required.

Movement members:

• FCCS_TotalOpeningBalance — provides the opening balance (including any prior period adjustments posted in the current period)

• FCCS_Mvmts_Total — provides the changes for the current reporting period (including the net effect of the FX calculations)

• FCCS_ClosingBalance — provides the "life-to-date" balances for all accounts that have their own opening balance

FX Opening and FX Movements are calculated on all accounts (but written to the OBFXCTA / OBFXCICTA for Revenue Expense accounts within the Net Income / Total Comprehensive Income hierarchies). For any account flagged as "historical" (Historical, Historical Rate Override, Historical Amount Override), the FX is calculated but is then transferred to the Cumulative Translation Adjustment (CTA) or Comprehensive Income Cumulative Translation Adjustment (CICTA) account. Note that Revenue and Expense accounts within the Net Income / Total Comprehensive Income hierarchies are assumed to be Historical accounts, translated at Average Rate, and with any FX variation calculations transferred to CTA/CICTA. The metadata Rate Type entry on these accounts is ignored and can be left as the default "No rate" entry.

These FX calculations can be viewed by displaying the relevant movements:

• FCCS_Mvmts_FX_Opening

• FCCS_Mvmts_FX_Movement

• FCCS_Mvmts_FX_to_CTA

• FCCS_Mvmts_FX_to_CICTA

Note:

FCCS_FX members are reserved for calculations and it is recommended that you do not post journals directly to these members.

Closing Balance for all non-historical accounts will be brought to an Ending Rate translation by the FX Opening and FX Movements calculations. Closing Balance of all historical accounts at a translated currency will be a weighted average of the periodic movements translated at Average Rate on a period-by-period basis. The FX Opening and FX Movement are calculated on these accounts (to ensure that the B/S still balances) but is then transferred to the CTA/CICTA account. The total of the FX-to-CTA/FX-to-CICTA system entries across the entire B/S (that is, viewed at the top B/S account) must equal zero.