财务管理最佳实践之项目会计英文,普华永道.ppt

Best Practice Financial Processes: Project Accounting,Project Accounting - Best Practices Objectives,Project Accounting Objectives,Organisation,People,Processes,Controls,Measures,Information Systems,to record and maintain costs and time at a project and task level to maintain project assets & Work In Progress to bill / charge for jobs carried out to assist in planning, scheduling and controlling projects to measure ongoing profitability and technical effectiveness of projects and enable corrective action to be taken,Bridge between financial management & project management,Establish project structure and type Create new project Allocate budget Track actual costs and time Review projects progress Bill or capitalise costs Close project,Monthly reporting Reconciliation to other modules Physical progress Invoices being paid,Key performance indicators Profitability of project Variance analysis (cost, time & materials) Achievement of technical objectives,On-line timesheet input Eliminate rekeying of data Integrated systems,Empower project managers To control information and take corrective action,A logically defined project & task numbering system is used with a project / job number that allows division and reporting by logical elements or segments A facility to predefine a list of project types Establish who owns, who controls and who monitors the project,Budget established in financial and quantitative terms as an option Budgets by individual property and group of projects Reforecasting / multiple budget facility Multi currency budgeting Information from past projects available to assist with estimate of future project costs,Direct costs allocated per timesheet entry Indirect costs per timesheet/ algorithms Collect costs in line with project milestones / phases Various ways of collecting costs; full cost, marginal, direct costs, direct costs and uplift, etc,Actuals and commitments (ie PO) raised against project budget Monitor against defined milestones Confirm physical progress of project Amend budgets for known costs overruns / savings,Project costs can be allocated to departments or billed to customers at appropriate times Charge against agreed milestones,Best Practice Features,Project Accounting - Best practice features,Establish project,Allocate budgets,Allocate costs & time,Review project progress vs costs & budget,Bill or charge for project,System records all necessary project data Any level of project task hierarchy is permitted,System allows budgeting at the lowest or highest task level Budgeting can be on a cost time, material or revenue basis Standard as well as value budgets Marginal or full costing basis Notes facility to support documentation of all budget assumptions,Integrated to financial & HR systems to aid input Time costed at multiple rates Automatic interface with inventory / accounts payable Multi currency costs Marginal or full costing basis,Software supports standard & ad hoc reporting and variance analysis Software supports on-line enquiry by project management Real-time check against projects budget when raising POs Drill down to source features available,Integrated with billing system or internal charging system Integration with fixed asset system for capital project capitalisation Multi currency billing Integration with GL for cost recharging / allocation Interim / final invoice to move costs from Work in Progress,System Features,Project Accounting - Best practice features,Establish project,Allocate budgets,Allocate costs & time,Review project progress vs costs & budget,Bill or charge for project,Project Accounting - Critical Success Factors,Project team led, finance supported. Participative approach to financial project management leading to real buy-in; Comprehensive communication and training to maximise benefits of better information Standard formats and means of data collection / consolidation in place with manageable level of detail; Timetable in place with deadlines for inputting costs and timesheets agreed; Guidelines clearly defined and communicated; Effective communication and feedback mechanisms in place between central group(s) and project / job managers; Approval levels and responsibilities clearly defined; Effective use of management time during the review process; Integrated systems in place with software to support on line reporting and analysis by operating management; Strong analytical support to decision making, by both finance departments and project teams; Efficient use of IT, to ensure project managers receive timely and accurate information.,These are the a summary of the key business requirements which must be met to achieve Project Accounting objectives:,Project Accounting - Issues and Trends,Link with work management / resource scheduling,Trends,Link with project management tool for financial and project reporting,Projects often will across financial / fiscal years, this can make year end accounting complicated,Issues,The trend is towards integrated systems / bespoke solutions tailored to meet sector specific needs,Propriety project management tools (eg PMW, MS Project) have only high level financial reporting, job and project costing modules have no progress reporting or planning functions - no good solution currently available. The trend is to integration and data warehousing,Independent “closing“ or cleardown of project details from fiscal year close in main financial ledgers,Project Accounting - Projects Classifications,Projects can be broadly defined as: Capital projects such as network building; Billing projects which are customer facing projects and result in the customer being invoiced during the life of the project or at the completion of the project.,Project Accounting - Level 0 Context Diagram,Project,Accounting,Employee Details,Capex / budgets,Project Accounting,Fixed Assets,Purchasing,Human Resource,General ledger,Capitalised assets,Project details,Purchase Orders (commitments),Payables,Receivables,Invoices,Work management scheduling,Works orders and tasks,Supplier invoices,Customers,Time information,Contract details,Invoices & project details,External suppliers (eg sub-contractors),Program reporting,Milestone definition/ targets,Budgeting & planning,Time recording system,Inventory,Goods booked out,Surplus items,Project Accounting - Level 1 Overview,Standing data Request,Budgeting procedures Authorisation procedure Technical Policy / requirements Project Accounting Policy,Management Accountant Technical support Budget holder Project owmer,PA structure,Achieve information,Authorisation rules Reporting rules Technical standards PA procedures / templates,Management accountant Project managers Financial accountant Budget holder,Reports,Progress reports,Financial procedures PA procedures Management feedback Technical Feed back,Authorised project,Communication and reporting guidelines PA procedures Management feedback Technical Feed back,Management accountant Technical Staff Project Managers AP system PO system Time recording system,Technical staff/operations Project Managers Financial accountant,Project authorisation documentation,Update