普华永道-财务管理最佳实践之项目A.ppt

Best Practice Financial Processes:Project Accounting,Project Accounting-Best Practices Objectives,Project AccountingObjectives,Organisation,People,Processes,Controls,Measures,Information Systems,to record and maintain 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,Bridge between financial management&project management,Establish project structure and typeCreate new projectAllocate budgetTrack actual costs and timeReview projects progressBill or capitalise costsClose project,Monthly reportingReconciliation to other modulesPhysical progressInvoices being paid,Key performance indicatorsProfitability of projectVariance analysis(cost,time&materials)Achievement of technical objectives,On-line timesheet inputEliminate rekeying of dataIntegrated systems,Empower project managersTo 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 segmentsA facility to predefine a list of project typesEstablish who owns,who controls and who monitors the project,Budget established in financial and quantitative terms as an optionBudgets by individual property and group of projectsReforecasting/multiple budget facilityMulti currency budgetingInformation from past projects available to assist with estimate of future project costs,Direct costs allocated per timesheet entry Indirect costs per timesheet/algorithmsCollect costs in line 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/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 basisStandard as well as value budgetsMarginal or full costing basisNotes facility to support documentation of all budget assumptions,Integrated to financial&HR systems to aid input Time costed at multiple ratesAutomatic interface with inventory/accounts payableMulti currency costsMarginal or full costing basis,Software 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 available,Integrated 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 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 informationStandard 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,ProjectAccounting,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 dataRequest,Budgeting proceduresAuthorisation procedureTechnical Policy/requirementsProject Accounting Policy,Management AccountantTechnical supportBudget holderProject owmer,PA structure,Achieve information,Authorisation rulesReporting rulesTechnical standardsPA procedures/templates,Management accountantProject managersFinancial accountantBudget holder,Reports,Progress reports,Financial proceduresPA proceduresManagement feedbackTechnical Feed back,Authorised project,Communication and reporting guidelinesPA proceduresManagement feedbackTechnical Feed back,Management accountantTechnical StaffProject ManagersAP systemPO systemTime recording system,Technical staff/operationsProject ManagersFinancial accountant,Project authorisation documentation,Updated project details and costs,Time and costs,Closed project,Customer invoices,Capitalised costs,Status guidelinesNotification proceduresFA proceduresReview proceduresConsolidate procedureReporting guidelinesReview ProceduresReporting&authorisation proceduresBudgeting proceduresClarify proceduresArchiving procedures,Management accountantProject managers/ownerDirectorsBudget HolderBilling systemFA accountant/systemAsset management system,Project Accounting-Appendix 1:IDEF Process Flow,The diagram below provides a key to the process diagrams used in this document.,Process/activity,Controls,(i.e.,ProceduresStandardsRequirements for rework),Output,(i.e.,InformationMaterial),Resources,(i.e.,PeopleFunctionsIT systemsMachines),Input,(i.e.,InformationMaterial),