2 About Accounting Foundation Cloud Service

Accounting Foundation Cloud Service (AFCS) enables you to collate, standardize, quality-assess, repair, enrich, group and publish data from multiple sources for purposes of accounting and financial reporting. AFCS works with Oracle ERP Financials Cloud Accounting Hub and GL to facilitate this. It enables you to choose an optimal chart of accounts in your General Ledger and maintain a separate Management Ledger with additional information grain. The two ledgers will be driven off the same set of journals and therefore be in alignment.

AFCS also facilitates reconciliation between balance figures obtained from core systems against customer-accounts and accounting balance figures in your ledgers. The service’s governance facility will oversee all involved processes. Information held in AFCS will be available for analysis, reporting and extraction for external use. You may add your own analytical content to that which is provided with the service.