普华永道-中国石化-财务信息系统设计报告

PetroChinaRequirementsanddesignofFMISmodificationsFMISenhancementproject,December1999,Contents,1.Businessrequirements32.Gapanalysis103.Overallapproachanddesignprinciples134.Businessprocessoverview155.Overviewofsystemchanges186.Newdatafilesandassociatedprocesses247.Systemprocessesforconsolidationandreporting29AppendixA-Reportformats32,2,SystemDesignforFMISModification,Businessrequirements,Chapter1,TobeabletodoanIPO,PetroChinaneedtobeabletoproducecertainkeyfinancialreports,Toproducethesereports,somechangestoFMISneedstobeimplemented.,Businessrequirementoverview,TheFMISsystemneedtobeabletoproducethefollowingreports:AnnualconsolidationreportsasrequiredbyChinaFinanceMinistrybasedonthePRCGAAPforjoint-stockcompany.QuarterlyconsolidationofreportsoftheoverallListCobasedontheIASisrequiredforpubliclylistedcompanies.DisclosureitemsarealsorequiredbyIASandPRCGAAPforjoint-stockcompany.Someotherinformationisrequiredtosupportannualauditing.Alltheabovereports(excepttheauditinformation)willneedtobeproducedalongthenewPetroChinaorganizationstructureasdescribedinthefollowingpage.Theabovereportingrequirementsaredetailedinthenextpages.,PetroChina,Level1PetroChina,Level2SpecializedCo/BusinessGroup,Level3Segment,Level4Type,EProvision;Deductions;BalanceatendofperiodMovementreportofPPEEndingbalanceLoansAnalysisReportDirectorsremunerationreportSalaries,allowancesandotherbenefitsContributiontoretirementbenefitscheme,FMISalsoneedtoproducecertaininformationthatisrequiredtofacilitateannualaudit.,Businessrequirementsforannualaudit,Therequiredinformationforaccountsreceivable,long-termequityinvestment,long-termnon-equityinvestmenthasbeenlistedindisclosurerequirement.Theonlyremainingitemsforannualauditarelistedbelow:Short-terminvestmentInvestmenttype,investee,securitytype,parvalue,historicalcost,rate,duedate,interestreceivableordividendsreceivable,premium/discountanditsamortisationNotesreceivableNotestype,parvalue,rate,drawer,duedateOtherreceivableDebtor,amount,postduedaysAssetsrevaluationAssetsclass,bookvaluebeforerevaluation,bookvalueafterrevaluationShort-termloanLoaner,amount,rate,duedateNotespayableOwner,parvalue,rate,duedate,Gapanalysis,Chapter2,Changesinfinancialreportingprocess,PetroChinaneedstoimplementalargescalechangeinitsfinancialreportingprocess.,Current,ConsolidationisdonebytheauditorsusingspreadsheetsandmanualdatacollectionandmanipulationFMISreportisnotcompliantwithPRCaccountingstandardforjoint-stockcompany.IASreportisproducedbytheauditorsusingmanualmethodReportingisdoneforthewholeCNPCwiththecurrentorgstructureUsecurrentchartofaccounts,Future,ConsolidationwillbedonebyPetroChinaaccountantsaspartoftheregularaccountingprocessusingFMISFMISreportwillbecompliantwithPRCaccountingstandardforjoint-stockcompany.ASreportisproducedbyPetrochinaaccountantsusingFMISReportingstructureforPetroChinawillbeseparatedfromtheoldCNPC.NeworgstructurewillbeputinplaceNewchartofaccountswillbeineffect,Systemsissues,ThefollowingsystemsissuesareidentifiedascriticaltotheabilityforPetroChinatobeabletodoconsolidationandproducetherequiredreports,REQUIREMENTReconciliationoftransactionsthatoccursacrossdifferentaccountingentities.Somedetailedinformationneedtobepassedupthecorporatereportingstructure.,SYSTEMISSUEThisisdifficulttodowiththecurrentFMISsinceFMIStreatseachaccountingentityasindependentfromotheraccountingentities.ThisisnotpossibleinthecurrentFMISsinceFMISonlytransferreports,notdetailedinformation.,CONSOLIDATIONPROCESS,REQUIREMENTIASreporthavesomedifferentgroupingofaccountscomparedtoPRCreportsIntheinterim,CNPCrequiresreportingbasedonlocationsinadditiontothe“normal”reportingprocedurealongsegmentDisclosureitemsneedtobeproducedandrolledup,SYSTEMISSUECurrentFMISaggregatesreportupthehierarchyanditisnotpossibletoseeorreconstructtheindividualaccounts,thereforeitisnotpossibletoregroupaccountsathigherlevel.CurrentlyFMISreportinghierarchyfollowsastricttreepatternwithoneentityreportingtoonlyoneparent.CurrentFMIScannotproducethisdatanorrollitup,REPORTINGPROCESS,Overallapproachanddesignprinciples,Chapter3,Designprinciples/goals,ThedesignhastobeimplementablepriortotheIPOModifiedFMISmustbeabletoproduceallrequiredreportswithminimalmanualworkAvoidmajorchangesinbusinessprocessAvoidmajorchangesinFMISwhichneedslongdevelopmenttimeand/orhighriskofdestabilizingFMISMarginalchangestoFMISispreferredtomarginalchangeinbusinessprocessChangesinbusinessprocessorFMISshouldhaveminimaldependencyonshort-termimprovementtoITinfrastructure.Duetocurrentlimitationsintelecommunication,theamountofdatathatneedstobetransferredshouldbeminimized.Toeasetransition,themodifiedFMISneedtohavedatacompatibilitywithcurrentFMIS,Thefollowingprincipleshavebeenfollowedincreatingthedesignforthenewsystem:,Businessprocessoverview,Chapter4,LocationLevel5,SegmentLevel3,HQCorpLevel1,Lgr,Lgr,Lgr+,Lgr+,IAS,IAS,PRC,SegmentA,SegmentB,Elim,Elim,PRC,ElimIAS,ElimIAS,Elim,IAS,Lgr+,Lgr+,IAS,IAS,ElimIAS,Elim,IAS,IAS,Differentsegment,differentlocation,Samesegment,differentlocation,Samesegment,samelocation,Differentsegment,samelocation,Dataflowdiagramofrollupprocess,PRC,PRC,Lgr,Lgr,Notes:Lgr+=ledgerreportplussomeotherspecialreports.,Rollupandconsolidationprocesschart,1.1EntertransactionsforLevel6HO,1.5Entersame-segment,same-locationeliminationentries,1.4Importreportsfromlevel6HOledgers,1.2CreatereportsforLevel6HOledgers,1.3ReceivereportsAdjusteddebitamountofonereportitem(account)=Consolidateddebitamountofthereportitem(account)+Totaldebitamountofalladjustmententries;Adjustedcreditamountofonereportitem(account)=Consolidatedcreditamountofthereportitem(account)+Totalcreditamountofalladjustmententries3.ProducetheIASreportfromtheIASadjustedtemporaryledgerreport.ThisisdonebycreatingthereportsusingtheIASadjustedtemporaryledgerreportasthesource.AftertheIASreportiscreated,itisrecommendedthatthereportbestoredforlong-termrecordandarchive.,IASreportingprocessisperformedbyapplyingIASadjustmententriestotheconsolidatedledgerreport,ConsolidatedLedgerReports,F4IASadjustmentd