Financial statements Consolidation steps

Oracle Hyperion Solutions For Financial Close, Consolidation and Reporting

M2 Dynamics is a consulting services organization that specializes in the areas of not only business process, technology, and finance but the financial close, consolidation, and reporting process. As trusted business advisors, our firm provides expertise in Oracle Hyperion Enterprise Performance Management (EPM) software. Our mission is to help clients gain competitive advantage through innovative strategies and creative solutions that improve efficiencies, reduce costs, and enhance revenues. The foundation of core principles and consulting philosophy is simple: streamline processes, improve performance, and strengthen partnerships. Without our clients, we would not exist. We believe that beyond process and performance improvements, our partnership extends beyond project timelines. We are committed to your success.

Solution for the Financial Organization

The financial organization face mounting pressure to increase the accuracy of financial reporting while decreasing turnaround time. With limited resources, finance organizations must deliver accurate, useful, and timely data to an increasing number of stakeholders. Improving the speed of the financial close process is not enough because there is a competing demand for improved financial governance and increased transparency and reliability of data.

During the financial close process, each step has dependencies on others, thus, pushing each subsequent activity back which results in more manual steps and decreased transparency.

In order to assist the Finance organization from the closing of the sub ledgers to the financial and regulatory report filings, Oracle has provided a broad set of technology solutions and capabilities which provides integrated software to assist with the full range of the financial close process.

Oracle Hyperion Financial Close Management

The Oracle Hyperion Financial Close Management application is built for centralized, web-based management of period-end close activities across the extended financial close cycle. The first application of its kind, Oracle Hyperion Financial Close Management will help manage all financial close cycle tasks including ledger and sub ledger close, data loading and mapping, financial consolidation, reconciliation, tax/treasury and internal and external reporting processes – any task associated with the extended financial close.


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Does the Federal Reserve ever get audited?
Yes, the Board of Governors, the 12 Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review:
• The Government Accountability Office (GAO) conducts numerous reviews of Federal Reserve activities.
• The Board's financial statements, and its compliance with laws and regulations affecting those statements, are audited annually by an outside auditor retained by the Office of Inspector General (OIG).
• The Board's OIG audits and investigates Board programs and operations as well as those Board functions...
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Relevant Code in CA

by JNG-CPA

I'm not sure as to how long. However, as to whether the client has the right to get the copies of the working papers for the past ten years - it depends. Check with the state board of accountancy in the jurisdiction that the auditor practiced in. In CA - you would have to determine what does the contract or engagement letter allow? Generally, the client is due any financial records (e.g. bank statements, schedules provided by the client to the auditor, etc...) but not the auditors internal documents related to the testing performed as part of the attest function.

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Is the economy healthy, or...

by thegreatestscam

Could it be healthier?
The CAFR (Comprehensive Annual Financial Report) off-budget accounting data show the United States has trillions of dollars of hidden wealth at the different government levels combined.
The money involved has been hidden from the people, because the entire structure exists outside the view of the public, and it is generating more money than the entire amount of taxation they're collecting.
Only 1/3 of gross income, now, is taxation; 2/3 is returns on investment funds/enterprise projects. This 2/3 is contained in the CAFR report and the public in general doesn't see it [source: Walter Burien/CAFR1
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