Oracle Financial Consolidation and Close Cloud Service (FCCS)

Oracle Financial Consolidation and Close Cloud Service is a cloud system for process management of consolidation and financial closure which allows to simplify collecting and preparation of consolidated financial statements and also to automate these processes that reduces terms of financial closure and allows to use resources more effectively.

The multidimensional data model of Oracle FCCS in addition to reference books, standard for financial model, contains special reference books for the purposes of consolidation – interpretation of a type of movement/change on the account, analytics for data storage on different steps of process of consolidation, information on data source and the amounts in the local standard of accounting if it differs from IFRS. Such model of sieves the majority of tasks of formation of the consolidated statements also provides transparent process of data translation. Additional user measurements can be configured if necessary. Oracle FCCS allows to broadcast data in different currencies and to calculate a broadcasting reserve, to execute elimination, to create cash flow statements, to execute reconciliation of an intra group remaining balance and turnovers, the configured workflow allows to create magazines of adjustments, etc. Besides, necessary flexibility in management, and the possibility of use of Oracle Hyperion Financial Reports and Oracle Smart View for Microsoft Office and the built-in panels allows to visualize data to facilitate work with them.