Global Thinking Business Systems Limited – Development of a solution for dual reporting of Fixed assets in a global corporation with a shared IFRS chart of Accounts.

October 2015 update

Issue: Where the requirement for dual reporting of Global Fixed Assets has not been met by current solutions.

Current Gap:There may be a requirement to apply shared rules and controls in the Oracle Fixed Asset module across many fixed asset books and at the same time report IFRS and GAAP for each country from the Oracle EBS r12 system or provide this information to an additional consolidation and reporting system.

Current solutions: Utilise standard R12 EBS as it is IFRS friendly and within that transitional solutions exist. *Transitional solutions acknowledged by Oracle technology and other top four consultancies. Documents and white papers illustrate solutions of how to transition to International Financial Reporting Standards.

AssumptionsThe organisation uses a shared chart of account that is IFRS compliant and at a detailed transactional level. The organisations fixed assets are under central ownership.

Global Thinking idea: Develop an application or product using Oracle technology to report the local GAAP fixed assets from the one fixed asset book for each country.

Core Oracle technologies used in this design:ADF/JAVA

Advantages of this additional solution

Disclaimer: The views and information expressed in this document do not reflect the views of Oracle Corporation and this document is independent of, and does not represent Oracle Corporation in any way. Oracle does not officially sponsor, approve, or endorse this document or its content. © Global Thinking Business Systems Limited The content on this site or document may not be copied, published, distributed, transmitted, printed, or resold without prior permission.

Advantages

Easy to buildUser friendlyLow maintenanceAlternative solution (choice)Flexible could be used for reporting either GAAP/IFRS/TAX/OTHERGood financial controls uses the controls within Oracle FinancialsCan be easily de-coupled when transition to IFRS is madeLow costUses Oracle technology e.g. ADF/JAVA

Global Thinking Business Systems Limited – Development of a solution for dual reporting of Fixed assets in a global corporation with a shared IFRS chart of Accounts.

Build the development with ADF and JAVA (diagram)

The proposed development is an alternative technical solution as opposed to using the following alternative solutions;-

Additional fixed asset ledgers (depends but primary ledgers and fixed asset tax books may prevent this being an option)R12 Sub-ledger accounting/account generator (partial solution)Hyperion (no direct interface from fixed assets)Other Oracle reporting tools (create additional reports)Access database (cumbersome)External fixed asset software (cost)

Assumed end user Technology stack: Java Client, Oracle Applications Server, Oracle Database, and Oracle Enterprise Manager

Disclaimer: The views and information expressed in this document do not reflect the views of Oracle Corporation and this document is independent of, and does not represent Oracle Corporation in any way. Oracle does not officially sponsor, approve, or endorse this document or its content. © Global Thinking Business Systems Limited The content on this site or document may not be copied, published, distributed, transmitted, printed, or resold without prior permission.

Oracle EBS R12

Oracle tables User Interface

Java/ADF

Fixed Assets

Fixed Assets

Module

General Ledger module

Sub-ledger engine

Simple Diagram showing the proposed solution

Global Thinking Business Systems Limited – Development of a solution for dual reporting of Fixed assets in a global corporation with a shared IFRS chart of Accounts.

*Details of the white papers mentioned are available on request.

Disclaimer: The views and information expressed in this document do not reflect the views of Oracle Corporation and this document is independent of, and does not represent Oracle Corporation in any way. Oracle does not officially sponsor, approve, or endorse this document or its content. © Global Thinking Business Systems Limited The content on this site or document may not be copied, published, distributed, transmitted, printed, or resold without prior permission.