普华永道财务管理最佳实践之项目A课件

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1、普华永道财务管理最佳实践之项目A课件Best Practice Financial Processes:Project Accounting普华永道财务管理最佳实践之项目A课件Project Accounting-Best Practices ObjectivesProject AccountingObjectivesOrganisationOrganisationPeoplePeopleProcessesProcessesControlsControlsMeasuresMeasuresInformation SystemsInformation Systemsto record and ma

2、intain costs and time at a project and task levelto maintain project assets&Work In Progressto bill/charge for jobs carried outto assist in planning,scheduling and controlling projectsto measure ongoing profitability and technical effectiveness of projects and enable corrective action to be taken Br

3、idge between financial management&project managementEstablish project structure and typeCreate new projectAllocate budgetTrack actual costs and timeReview projects progressBill or capitalise costsClose projectMonthly reportingReconciliation to other modulesPhysical progressInvoices being paidKey per

4、formance indicatorsProfitability of projectVariance analysis(cost,time&materials)Achievement of technical objectivesOn-line timesheet inputEliminate rekeying of dataIntegrated systemsEmpower project managersTo control information and take corrective action普华永道财务管理最佳实践之项目A课件A logically defined projec

5、t&task numbering system is used with a project/job number that allows division and reporting by logical elements or segmentsA facility to predefine a list of project typesEstablish who owns,who controls and who monitors the projectBudget established in financial and quantitative terms as an optionBu

6、dgets by individual property and group of projectsReforecasting/multiple budget facilityMulti currency budgetingInformation from past projects available to assist with estimate of future project costsDirect costs allocated per timesheet entry Indirect costs per timesheet/algorithmsCollect costs in l

7、ine with project milestones/phasesVarious ways of collecting costs;full cost,marginal,direct costs,direct costs and uplift,etc,Actuals and commitments(ie PO)raised against project budgetMonitor against defined milestonesConfirm physical progress of projectAmend budgets for known costs overruns/savin

8、gsProject costs can be allocated to departments or billed to customers at appropriate times Charge against agreed milestonesBest Practice FeaturesBest Practice FeaturesProject Accounting-Best practice featuresEstablish projectEstablish projectAllocate budgetsAllocate budgetsAllocate costsAllocate co

9、sts&time&timeReview project Review project progress progress vs costs&budgetvs costs&budgetBill or charge Bill or charge for projectfor project普华永道财务管理最佳实践之项目A课件System records all necessary project data Any level of project task hierarchy is permittedSystem allows budgeting at the lowest or highest

10、task level Budgeting can be on a cost time,material or revenue basisStandard as well as value budgetsMarginal or full costing basisNotes facility to support documentation of all budget assumptionsIntegrated to financial&HR systems to aid input Time costed at multiple ratesAutomatic interface with in

11、ventory/accounts payableMulti currency costsMarginal or full costing basisSoftware supports standard&ad hoc reporting and variance analysisSoftware supports on-line enquiry by project managementReal-time check against projects budget when raising POsDrill down to source features availableIntegrated

12、with billing system or internal charging system Integration with fixed asset system for capital project capitalisationMulti currency billingIntegration with GL for cost recharging/allocationInterim/final invoice to move costs from Work in ProgressSystem FeaturesSystem FeaturesProject Accounting-Best

13、 practice featuresEstablish projectEstablish projectAllocate budgetsAllocate budgetsAllocate costsAllocate costs&time&timeReview project Review project progress progress vs costs&budgetvs costs&budgetBill or charge Bill or charge for projectfor project普华永道财务管理最佳实践之项目A课件Project Accounting-Critical Su

14、ccess FactorsProject team led,finance supported.Participative approach to financial project management leading to real buy-in;Comprehensive communication and training to maximise benefits of better informationStandard formats and means of data collection/consolidation in place with manageable level

15、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 u

16、se 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 receiv

17、e timely and accurate information.These are the a summary of the key business requirements which must be met to achieve Project Accounting objectives:普华永道财务管理最佳实践之项目A课件Project Accounting-Issues and TrendsLink with work management/resource schedulingTrendsTrendsLink with project management tool for f

18、inancial and project reportingProjects often will across financial/fiscal years,this can make year end accounting complicatedIssuesIssuesThe trend is towards integrated systems/bespoke solutions tailored to meet sector specific needsPropriety project management tools(eg PMW,MS Project)have only high

19、 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 warehousingIndependent closing or cleardown of project details from fiscal year close in main financial ledgers普华永道财务管

20、理最佳实践之项目A课件Project Accounting-Projects ClassificationsProjects can be broadly defined as: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

21、 completion of the project.普华永道财务管理最佳实践之项目A课件Project Accounting-Level 0 Context DiagramProjectProjectAccountingAccountingEmployee DetailsCapex/budgetsProjectProjectAccountingAccountingFixed AssetsFixed AssetsPurchasingPurchasingHuman ResourceHuman ResourceGeneral ledgerGeneral ledgerCapitalised asse

22、tsProject detailsPurchase Orders(commitments)PayablesPayablesReceivablesReceivablesInvoicesWork management Work management schedulingschedulingWorks orders and tasksSupplier invoicesCustomersCustomersTime informationContract detailsInvoices&project detailsExternal suppliers External suppliers(eg sub

23、-contractors)(eg sub-contractors)Program reportingMilestone definition/targetsBudgeting&planningBudgeting&planningTime recording systemTime recording systemInventoryInventoryGoods booked outSurplus items普华永道财务管理最佳实践之项目A课件Project Accounting-Level 1 OverviewStanding dataRequestBudgeting proceduresAuth

24、orisation procedureTechnical Policy/requirementsProject Accounting PolicyManagement AccountantTechnical supportBudget holderProject owmer PA structureAchieve informationAuthorisation rulesReporting rulesTechnical standardsPA procedures/templatesManagement accountantProject managersFinancial accounta

25、ntBudget holderReportsProgress reportsFinancial proceduresPA proceduresManagement feedbackTechnical Feed backAuthorised projectCommunication and reporting guidelinesPA proceduresManagement feedbackTechnical Feed backManagement accountantTechnical StaffProject ManagersAP systemPO systemTime recording

26、 systemTechnical staff/operationsProject ManagersFinancial accountantMaintain Maintain standing standing datadataPA1.1PA1.1Set up Set up projectprojectPA1.2PA1.2Monitor Monitor projectprojectPA1.3PA1.3Analyse Analyse and revise and revise projectprojectPA1.4PA1.4Close Close projectprojectPA1.5PA1.5P

27、roject authorisation documentationUpdated project details and costsTime and costsClosed projectCustomer invoicesCapitalised costsStatus guidelinesNotification proceduresFA proceduresReview proceduresConsolidate procedureReporting guidelinesReview ProceduresReporting&authorisation proceduresBudgeting

28、 proceduresClarify proceduresArchiving proceduresManagement accountantProject managers/ownerDirectorsBudget HolderBilling systemFA accountant/systemAsset management system普华永道财务管理最佳实践之项目A课件Project Accounting-Appendix 1:IDEF Process FlowThe diagram below provides a key to the process diagrams used in this document.Process Process/activityactivityControls(i.e.ProceduresStandardsRequirements for rework)Output(i.e.InformationMaterial)Resources(i.e.PeopleFunctionsIT systemsMachines)Input(i.e.InformationMaterial)普华永道财务管理最佳实践之项目A课件