FESA Payable
-
Upload
flexsystem-fesa-scom -
Category
Economy & Finance
-
view
67 -
download
2
description
Transcript of FESA Payable
Managing Relevant Scenarios of Liabilities Throughout Every Stage of Liability Life Cycle
FESA Payable
Website: http://www.fesa-s.com Email: [email protected] Last update: 24-Dec-2013
Your Key Concerns
Duplication of payments mainly resulting from staff turnover No offset asset-liability information available for settlement No clear picture of all relevant liabilities (i.e. IFRS and NoIFRS)
to support strategic planning
Extended time of financial close as resulting from long cut-off-date of account payable sub-ledger (i.e. waiting invoices)
Cannot avoid adverse variance of incurred liabilities against
budgeted liabilities (i.e. must proceed payment despite adverse variance exist)
Cannot provide relevant cash outflow forecast supporting
effective treasury management
No comprehensive information and evidence of settled liabilities to protect again duplicated claims from contracting parties
Your Key Concerns
IFRS compliance, e.g. • Financial liabilities measured at amortized cost (IFRS 7)
• Maturity analysis of financial liabilities (IFRS 7)
• Currency risk (IFRS 7)
• Segment liabilities (IFRS 8)
• Elimination of intragroup assets and liabilities (IFRS 10)
• Fair value measurement of liabilities (IFRS 13)
• Assets and liabilities may not be offset (IAS 1)
• Unrecognized contractual commitments (IAS 1)
• Events after the reporting period (IAS 10)
• Share of any liabilities incurred jointly of joint operations (IAS 11)
• Deferred tax liabilities (ISA 12)
• Finance lease (IAS 17)
• Provision for relevant employee benefits (IAS 19)
• Monetary liabilities shall measure at closing exchange rate (IAS 21)
• Payable to related parties (IAS 24)
• Contingent liabilities (IAS 37)
• Customer loyalty programmes (IFRIC 13)
• Extinguishing financial liabilities with equity instruments (IFRIC 19)
n
BI.BPM
ERP.POS.CRM
Are you concerning that n software is most relevant to extend your works of liability management despite it have
been triggering AVESTA computing issues?
Your Key Concerns
FESA Payable
FESA Payable is not only to support your effective management of accounts payable, but also provide a new platform to manage relevant scenarios of liabilities throughout every stage of liability life cycle. However, FESA Payable is not a system specialize in the following automation: FESA Lease FESA Payroll FESA Procurement FESA Reimbursement FESA Treasury
FESA Payable can interface with other systems and operations by adopting any combination of the following implementation models:
Active or passive integration with your systems Flexible data import and transformation capabilities On-line customized data entry forms Impressive output and reporting capabilities
Lia
bility S
cenarios
Recorded Liabilities
Plan Obligation Approved Budget
Approved PR & Signed PO
Commitments
Possible Obligation
Contingent Liabilities
Uncertain Settlement
Present Obligation
Received Goods / Rendered Services
Determining on D/N, GRN, PO, Invoice and/or
Creditor Statement
Trade Payables
Other Payables
Estimation Accrued Expenses
Financing
Loan
Bank Overdrafts
Bills Payables
Interest Payables
Unrecorded Liabilities
Discrepancy Against Creditors
Negative Liabilities
Duplicated Settlement
Over Settlement
Settle Without Elim Receivables
Relevant Liability Scenarios
Provision
Contr
acting P
art
ies
Outflow of Resources to Contracting
Parties
Shareholders
Fellow Subsidiaries
Holdings
Subsidiaries
JVs & Associates
Key Management
Employees
Customers
Suppliers
Service Providers
Banker
Regulatory Bodies
Multi-face of Contracting Parties
Any of your creditor may be changing their face from time to time
These creditors can have different contractual relationships with your group at the same time
They may have requested you to settle liabilities with different scenarios over time
They may deal with your group across different business units and companies
Managing Seven Stages of Liability Life Cycle
Budgeted Liabilities
• Approved Budget
Utilizing Budgeted Liabilities
• Approved Purchase Requisitions
Committed Liabilities
• Signed Purchase Orders
Incurred Liabilities
• Received Goods or Rendered Services
Invoiced Liabilities
• Received Invoices
Confirmed Liabilities
• Confirmed Contracting Parties
Settled Liabilities
• Registered Evidences
Minimizing Financial Risks: • Overdue Settlement • Unrecorded Liabilities • Duplicated/Over Settlement • Late Closing of Total Liabilities • Over Utilization of Budgeted Liabilities
Relevant Liability Dimensions for Every Stages of Liability Life Cycle
Budgeted Liabilities
Utilizing Budgeted Liabilities
Committed Liabilities
Incurred Liabilities
Invoiced Liabilities
Confirmed Liabilities
Settled Liabilities
Analyzed by consolidation group, legal entity & business unit
Analyzed by date, expense and liability nature, department & project
Analyzed by contracting party & relationship
Analyzed by contracting currency
Analyzed by aging (incur & due date)
Analyzed by movement type
Analyzed by settlement type
Contr
acting P
art
ies
Budgeted Liabilities & Utilization