讲座培训课件 FAB Deep Dive Process ReviewPPT

1、DRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED1FAB Deep Dive Process ReviewJune 2003Fixed AssetsDRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED2Fixed Assets:The Fixed Assets management process is centralized in FC East. Fixed asset management encompasses the processes of recording and booking journal entries rel

2、ated to the acquisition, transfer or disposal of fixed assets, additionally, accounting for project related activities (new building fit-out etc.) is completed by this group. When a fixed asset is purchased, an Appropriation Request (AR) from the Capex budget is generated. This AR forms the basis fo

3、r a Purchase Order (PO) which is sent to the vendor. Once the asset is received, the invoice is processed in the TAPS or Millennium systems; these are hybrid AP-cum-Fixed Assets (FA) systems. After the invoice is captured (by the AP team) a Spend Queue is generated; the Spend Queue represents the nu

4、mber of invoices captured which need to be capitalized. Tracking of these invoices is performed on the basis of the GL account code attached to each invoice line item. There are local resources in each country who assign the correct GL account code. Additionally, scanned images of these invoices are

5、 available in the Document Express (DocX) system. Processing of asset transfers (cross unit/country) is performed by the Inter-Company (IC) team.On a weekly basis (Friday) the Millennium system interfaces with the GL through a process called the Sweep where all invoices captured by the Vendors Payab

6、le Group in the Millennium subsystem are booked directly into their respective accounts in the GL. Additionally, each month, depreciation entries are automatically generated and posted to the respective GL accounts. Prior to this depreciation calculation the FA team sets-up the system parameters to

7、automatically calculate the depreciation amount. The FA team is also responsible for researching a clearing open items/unreconciled items identified by the Global Accounts Reconciliation (GAR) team. In 2002 there were approx. 94,714 transactions, the proportion of new additions:disposals: transfers

8、was 55:30:10. Details of these transactions is received by the FA team via e-mails. Process OverviewDRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED3Fixed Assets:Millennium (Payment/Fixed Assets system) GEACAETV 3.0MainframeTAPS (Payment /Fixed Assets system)In-houseAETV 3.0FoxPro 2.6, VB 5.0, SQL Ser 6.5,

9、Seagate crystal report 7.0 Document Express (Invoice scanning system)NAAETV 3.01WEB Based ApplicationWalker (G/L)In-houseAETNAClient Server ApplicationAxiom (Amex reports repository) In-houseAETNAMainframeMillennium Prod (Electronic file system) In-houseNot SupportedNAPC BasedSystem InventoryDRAFT C

10、ONFIDENTIAL NOT TO BE DISTRIBUTED4Fixed Assets:Process Construction In Progress (CIP) DetailsGenerate Fixed Assets ItemAR RequestsConfirmation of AR No.Input ProcessOutputInvoices from Document ExpressAddn. Sheets & Entry SupportsTransfer & Disposal FormsEnter Assets Transfers & Disposals DetailUpda

11、tes Trial BalanceUpdated FA RegisterRec. ExhibitsTax SchedulesCash FlowsCIP AnalysisPerform Month End ActivitiesPerform Reconciliation Research & ClearanceGenerate Fixed Assets ReportsWalker GL ExtractsAR Close Out FormProcess FlowDRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED5Fixed Assets:$thousands2003

12、Budget2002 ActualsFC EastFC EastRegular Payroll37$ 37$ Temporary Payroll-$ -$ Benefits38$ 38$ Total Salaries & Benefits75$ 75$ Data Processing2$ 6$ Occupancy & Equipment19$ 13$ Telephone & Communication3$ 4$ T&E7$ 8$ Other9$ 20$ Other Operating Costs40$ 50$ Total Direct Operating Cost114$ 126$ FC Ov

13、erhead-$ -$ Other FC Overhead118$ 93$ Technology Service Fees30$ 71$ Other Svc Fees-$ -$ Total Indirect Costs148$ 165$ Total Process Costs262$ 290$ Regular staff11 12 Temporary/contract staff- - Total FTE11 12 Process FinancialsDRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED6Fixed Assets:2003 Budget12002 A

14、ctuals2FC EastFC EastNumber of New Assets Added50,71554,834 Number of Assets Disposed27,66429,910 Number of Assets Transferred9,2219,970 Total87,600 94,714 Process VolumesDRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED7Fixed Assets:2003 Budget2002 ActualFC EastFC EastAverage1st QuartileCost per Transaction

15、3.00$ 3.06$ 2.09$ 1.30$ Cost as % of Revenue40.00122%0.01300%0.00800%Transaction per FTE7,964 7,893 26,594 34,088 FTE per $ Billion of Revenue44.292.391.74Benchmarks3Benchmark ComparisonDRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED8Fixed Assets:Leading PracticeDepreciation charges and asset activity are

16、posted automatically to GL using an integrated GL/sub-system (ERP).Use of workflow-enabled online application for asset transfers, disposals, retirements, tracking surplus assets. A leading practice is to use bar-coded asset tags which are automatically generated and physically attached to the asset

17、 by the supplier or attached upon receipt of the asset.Observation at AmexPosting of depreciation charges to the GL and asset activity is not automatic recorded due to constraints of disparate legacy systems.Asset changes are received on an ad-hoc “honour” system through a variety of inputs e-mails,

18、 faxes which are received from the account/process owners.Bar codes are not used to tag and identify the assets (to be validated).LocationFC-EFC-EFC-EImplicationsManual efforts are required to reconcile the sub ledger and GL balances.More manual efforts and intervention is required to ensure that al

19、l asset activity is captured and recorded on a timely basis.Assets information is not readily available which leads to possibility of having surplus assets.RatingAsset management system tracks GAAP and tax information.It appears that Amex tax information is maintained outside asset management system

20、FC-EAssets information needs to be reconciled between the asset management system and tax information system.Leading Practice ReviewLow To None Low to MediumMedium to HighVery High1234DRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED9Fixed Assets:Leading PracticeSingle, common fixed-asset application establi

21、shed with standard capitalization policies.Management and accounting reports available for viewing online using a Web-based application. Fixed-asset system capable of performing periodic fixed asset, tax and insurance planning and analysis. Observation at AmexMultiple systems used (Japan, Hong Kong,

22、 Singapore, Taiwan and Indonesia use TAPS, other countries use Millennium), however, standard capitalization policies are used.A Mainframe based reporting platform (AXIOM) is used for generating reports from the FA systems. These reports can be accessed by the AXIOM users. It appears that the FA sys

23、tems do not have the capability of performing tax and insurance planning analysis.LocationFC-EFC-EFC-EImplicationsAdditional efforts are required to consolidate an enterprise wide view of FA data.The access to the reports are limited to the users who have access to the AXIOM system. Web based applic

24、ations make it simpler to access the reports.Additional efforts are required to get the relevant data out of FA system to perform analysis.RatingGain or loss and disposal proceeds booked automatically through fixed assets. FA systems process the disposals by making the Net Book Value of the disposed

25、 asset to zero and passes an accounting entry to a Gains/Loss account in GL. The proceeds from the sale of the asset is routed directly through GL.FC-EAdditional efforts are required to reconcile and calculate gains/losses on the disposal of assets.Leading Practice Review5678Low To None Low to Mediu

26、mMedium to HighVery HighDRAFT CONFIDENTIAL NOT TO BE DISTRIBUTED10Fixed Assets:Leading PracticeFixed assets inventoried routinely on a cycle-count basis targeting high-value, high-risk and highly mobile assets using bar-code.Provide asset information to everyone within an organization via a corporat

27、e intranet, to facilitate the utilization of assets. Publish surplus assets (for disposal) on corporate intranet.Observation at AmexInventories are performed every two years. Although bar code technology is used, asset numbers do not reconcile back to the FA register.There is no reporting of surplus

28、 assets on the corporate intranet. It appears that some markets are trying to identify surplus assets at their locations.LocationFC-EFC-EImplicationsAdditional efforts are required to reconcile the physical inventory of assets to the data in FA system. This leaves a possibility of large volumes of surplus assets.RatingTrack leases (capital