Microsoft Dynamics for financial management solutions give organizations a way to raise the visibility of financial metrics and the effectiveness of financial management throughout the establishment using familiar tools and existing skills. With Microsoft Dynamics NAV, you get the following benefits: · Empower financial managers to succeed · Compete more efficiently with better financial insight · Realize your vision for growth Microsoft Financial Management Software (NAV) will help business by offering lot of simple-to-use financial tools. It provides information in a analytical way that a layman can know.
Microsoft Dynamics NAV is expected to provide an array of benefits to meet the specialized needs of Bordine’s combined wholesale, retail and horticulture processes, including the following:
Integration throughout the business. All information from Bordine’s four locations in Michigan will be accessible from a single database that eliminates the need for multiple entries of the same data. In addition, employees will gain remote access to data and reports when at home or on the road.
Accuracy of data. Microsoft Dynamics NAV 5.0’s integration means Bordine no longer will need to enter the same data in two or three different locations. The consequences are fewer opportunities for error and assurance that all is working from the most current version of the data.
New reporting capabilities. Bordine management personnel anticipate information in their reports will be timelier with Microsoft Dynamics NAV’s forms and reports
Microsoft Dynamics is a line of financial, customer relationship and supply chain management solutions that helps businesses work more effectively. Delivered through a network of channel partners providing specialized services, these integrated, adaptable business management solutions work like and with familiar Microsoft software to update processes across an entire business
GT Kimberly is an ardent follower of IT Software News. He is a regular reader of news happenings of Huge Companies like Microsoft, Google etc
Hyperion Solutions Corporation is an establishment that specializes in business performance management solutions products. The products are particularly developed for the areas like business intelligence and business performance management. This establishment was bought over by Oracle Corporation in 2007 and Oracle has since then, been actively promoting and promotion the products of Hyperion Solutions.
The establishment has added many feathers to its cap and among those, the most notable recognition came along in 2007 when Gartner placed the establishment in the Leader quadrant for both the performance management in the corporate sector and business intelligence areas.
Hyperion Solutions Corporation was founded in the year 1981 under the name of IMRS which developed management and financial consolidation software known as Micro Control under the supervision of Marco Arese and Bob Thompson. In 1991, IMRS became a public company and launched a windows based program called Hyperion.
Hyperion became the successor to Micro Control. In 1992, Arbor Software rolled out the first ever version of the Essbase Online Analytical processing software. In 1998, Arbor is merged with Hyperion and the combined entity is renamed as Hyperion Corporation.
Thus was born one of the most successful product companies. Hyperion made many acquisitions on its way to becoming one of the most successful business enterprises. In 2007, Oracle announced the acquisition of Hyperion for an estimated 3.3 billion dollars in cash.
The main competitor of Hyperion is the SAP business objects.
The main products of Hyperion software include the following:
Essbase
Hyperion System 9 BI+
Hyperion Intelligence (this comprises products that was formerly made by the Brio Technology, and was bought in the year 2003)
Hyperion Enterprise
Hyperion Plotting
Hyperion Strategic Finance
Hyperion Financial Management
Hyperion Master Data Management
The Hyperion plotting product enables the business enterprises to plot the total resources of an enterprise. This enables an enterprise to manage the total cost of running an enterprise more effectively. The business manager can keep a control on the resources and how they can be optimized.
The Strategic finance suite of products enables a company to manage each and every area of corporate finance more efficiently. This gives the Chief Executive Officer or the Chief Financial Officer the ability to see the information on the various areas of corporate finance very visibly. This enhances their ability to take quick and well-informed decisions.
Hyperion has made rapid strides in its overall product management and in the overall domain of business performance management. That a world class product establishment like Oracle expressed its interest in buying over the company goes to show the value of the suite of products it has developed.
FlexAccount Financial Consolidation system is powered by the mature FESA (FlexSystem Enterprise Software Architecture) framework design and build-in Enterprise Automation Best Practice elements such as Multi-Users, Multi-Companies, Multi-Currencies, Multi-Client interface support It allows to model the consolidation easily & speedily, with multi-dimensional data analysis, equipped with powerful tools to model your customized reporting, without the need of consulting hours. Video Rating: 0 / 5
Financial Plotting Software is a comprehensive package that covers right from simple plotting concepts to in-depth financial plans for all the wealth management requirements. It consists of advanced tools particularly developed for financial professionals dealing advice-based client relationships.
With it, you can easily record, analyze, and provide all aspects of your clients current and proposed financial situation. It helps you to build a strategical and analytical, step-by-step process to assess the wealth of your client, keep track of the same, and other money correlated aspects such as, your clients’ loans, spending, tax lapses and many more.
Some of its integral features are:
Financial Assessment
Asset allocation
Insurance analysis
Business valuation
Real estate analysis
Net worth and Cash flow management
Investment modeling
Data import capabilities
Tax plotting
Some of the other features of Financial plotting software are, it can provide audit trail; which will give you simple assessment of the assets and liabilities to taxes, income net worth, etc, each under different relevant subcategories. It can also provide you a statement of financial condition.
If you are a financial adviser, the Financial plotting software imparts you the flexibility to work either on an individual project such as a
mortgage or refinance. Or you can choose to work on an entire personal financial plot for the client.
Financial Plotting software is simply an option to simplify your clients’ financial life. With a detailed program entailing all the aspects of wealth management, right from refinancing an existing home loan, to purchasing a new home or to budget management of everything, this software would do all the simplifying magics for you.
Below are some of the listed benefits of using Financial Plotting software :
Debt Management : With a debt management module incorporated surrounded by the software, you become flexible enough to restructure/remodel the debt payments mode, with an objective to boost your client;s cash flow.
Home Mortgages : Financial Plotting software can easily analyze various mortgage options unfilled, and based on the incorporated algorithms, it can devise mathematical models for the same. You avail the best of advices for the best possible scenario. You make it simpler, not just for yourself but for the clients as well.
Investment Management : Right from devising some simple savings accounts to building a powerful stock portfolio, the Financial Plotting software can do it for you. The software gives you the best unfilled calculations and projections taking account of other investment options.
Budget Analysis and Plotting : Using an integrated approach, Financial Plotting software easily generates full featured budget analysis and plotting module. You can also develop a Budget report with inclusions of percentage breakdowns in the budgets.
Retirement Plotting: Financial Plotting software provides a platform for simple modeling of the Retirement needs analysis. It can generate retirement summary report and other retirement needs analysis reports, and along these lines you can come up with the best retirement proposition for your clients.
Vishal Saxena is an expert author, working with a leading IT company and writes articles about IT services and software products like Financial Plotting Software, Online Invoice Software etc.
An open letter to international finance and accounting managers
Over the past few decades, the accelerating trend towards globalization has inevitably generated extra work and stomach acid for the financial controllers, chief accountants and CFOs of companies that have been bought by foreign multinationals.
Whereas in the excellent ancient days these multinationals frequently used to make due with a minimum of local reporting and some adjusting entries at a very broad amount, the global trend towards improving visibility and reliability in consolidated financial reporting for listed companies is increasing the levels of detail and accuracy required.
Now, finance and accounting personnel, in addition to producing their normal financial statements and reports (perceived as both time consuming and pertinent) for the people to whom they report directly and who choose on their bonuses, are required to produce reports (viewed as time consuming and a nuisance) for the ‘home office’.
This home office is often quite distant, in another time zone, and populated by people who speak a foreign language or the local language with thick accents and who have very small impact on local managers’ individual compensation (a consideration not to be underestimated in the real world). In addition, one of the home offices’ primary concerns permanently seems to be learning where you’ve tucked away your ‘cushion’ to smooth out earnings when you need to. None of these conditions are predisposed to fostering a kindly spirit of Intercompany cooperation.
These reports to the home office frequently require that consolidating entries be made to present local accounts in a manner compliant with foreign accounting principles. These consolidating entries are frequently not fully comprehended by personnel on either side of the border (regardless of their individual expertise), as accounting principles differ greatly by country: goodwill may or may not be amortizable; economic lives differ; reserve and write-off policies vary greatly by country (not to mention that some capital are called ‘provisions’ by some and by others ‘capital’, and what the heck are ‘regulated’ or ‘legal capital’ anyway?); some countries appear to use the “extraordinary items” line for the most ordinary events; financial assets are classified differently – every local manager has his own list of pet peeves.
To complicate matters, the reporting software is often presented along with an accounting manual which looks to harried local managers trying to comprehend foreign accounting principles as pertinent as the familiar instructions: “Welcome to Chinese Restaurant. Delight try Your Nice Chinese Food With Chopsticks, the traditional and typical if Chinese glorious history and culture.”
The temptation to simply map accounts to whatever line seems plausible, without truly understanding whether the mapping is right or not, is fantastic. Unfortunately, it only means performing extra work without providing actual accurate, useful information to the people to whom the reports are sent.
Financial reporters of the world: do not despair, help is on the way!
The International Accounting Standards Enter (IASB) is working with national accounting regulatory bodies to achieve the convergence of accounting standards worldwide, through the adoption of International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS, those standards issued by the sign to the IASB). In 2002 IASB and FASB announced that convergence in methods was a priority for both, and beginning in 2005 publicly traded companies in EU member countries started reporting in IFRS. One day, finance and accounting managers around the world will be looking at the same things the same way.
But, there is still the question of language.
Financial translators generally have years of experience in the business world prior to taking up translation. Unfortunately, even the best of them place of protection’t worked at every company in every diligence. What’s more, they are restricted by the fact that terms vary greatly, even surrounded by the same language, country or diligence. And there is just no convenient way of translating something that simply doesn’t exist yet in another country’s economic reality (any Americans out there ever have a ‘postal checking account’? Or preference shares issued to the government upon nationalization?). Financial translation is an art, not a science.
Financial translation is an iterative process. At the best-managed translation companies, primary translators discuss terms with the secondary translators who waterproof-read them, to make sure that they are either accurate or at least coherent (when the corresponding accounting notion just doesn’t exist in the target language). The translator frequently works closely with the financial staff at the company requesting the translation to ensure that they’ve understood that company’s specific internal jargon and arrangement. Translators take pride in the product they deliver, and every time they send off their translations, they hope that they will make life simpler for the people receiving them (often their compatriots, as one generally translates into one’s native language). Especially as the subjects are often – let’s admit it – quite complicated and dry.
So, how do you get the most out of your financial translation and make your ‘home office’ reporting package meaningful and pertinent, since (1) you’re not allowed to just throw it away, (2) understanding it fully enables you to provide meaningful, accurate and useful data and (3) if you don’t, then some day the auditors will find out that it’s been done incorrect for years, and someone will be held accountable for the very messy adjusting entries that will be required in consolidation? If parts of the accounting manual you are provided don’t make sense to you, don’t simply take a best guess and stick it on the shelf.
Get together with the financial controller from the home office, and verify how you’ve mapped your local accounts to the Group accounts. Discuss the notions or terms you’re having distress with. Tell him/her what the term already used internally at your company is (and have the controller provide feedback to the translator, modifying the document for once and for all to all’s benefit).
It doesn’t take long, and not only will the time you’ve spent enable you to improve your communications with your foreign counterparts, but you’ll be able to “own” the data you’re sending out with as much pride and competence as you do the local data.
N. J. Lynn is a financial translator, and former controller working with Tectrad, a translation agency specialized in business and web site translations between English, French and other key languages. Find more language translation articles, and find out how Tectrad’s english to french translation services can provide you with the high degree of professionalism you need when communicating to your foreign clients.
Preparing consolidated financial statements requires gathering information on income, cash flow and shareholder’s equity from all different subsidiaries of a business. Eliminate inter-company profits to avoid inflating financial statements with insight from a certified public accountant in this free video on accounting. Expert: Miranda Chook Bio: Miranda Chook is a CPA with expertise in international operations. Filmmaker: Bing Hugh
