Eduardo Abaricia, Author at Perficient Blogs

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Eduardo Abaricia

I have a bachelor's degree in Accounting, MBA, and CPA. I have 6 years experience in HFM/FDMEE involving manufacturing, service, and marketing industries.

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FCCS Account Types and Translation

In HFM we are used to assigning Account Type = Balance for Balance Sheet Accounts and Account Type = Flow for P&L Accounts. Balance Accounts are translated using Ending Rates while Flow Accounts are translated using Average Rates. In FCCS, we assign Account Type = Flow both for Balance Sheet and P&L Accounts. Since data […]

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How to Enable FCCS Balance Account

The basic Accounting formula is Total Assets = Total Liabilities + Total Equity. The seeded account FCCS_Balance in FCCS application is designed to temporarily house the imbalance in the basic Accounting formula at Entity Currency. By default, this seeded account is Disabled for all Scenarios. To enable this account, open the Balance the Balance Sheet […]

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FCCS Eliminations

Elimination process in FCCS  The consolidation process in FCCS includes elimination of intercompany balances, which will occur when intercompany entities meet at the first common parent within the Entity hierarchy. The elimination process use Entity, Intercompany, Account, Data Source, and Consolidation Dimensions. In addition, an intercompany “Balancing Account” or Plug Account must be created to […]

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FCCS: Locking Data

It is always a good idea to lock data after completing period end-processing tasks. In HFM, we create the status grid that we use to lock or unlock data for the period and entity hierarchy intersections. The procedure to lock data in FCCS is different as follows: In Manage Approvals we need to make sure […]

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FCCS Translation Rates and Movement

In Hyperion Financial Management (HFM), we know that Assets and Liabilities are Balance Accounts where we assign Ending Rates while Revenues and Expenses are Flow Accounts where we assign Average Rates. In Oracle Financial Consolidation and Close Cloud (FCCS), Balance Sheet and P&L Accounts are assigned the same Time Balance and Exchange Rate Type. For […]

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The Four Custom Dimensions of FCCS

Although Oracle Financial Consolidation and Close Cloud (FCCS) offers enhanced functionalities such as multi-currency consolidation, pre-built Movement and Data Source dimensions, pre-seeded dimensions with corresponding consolidation, translation and FX calculation rules, the hesitation to take advantage of these FCCS enhancements were mostly due to the restrictive two custom dimensions. For some companies, two custom dimensions […]

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FCCS Reporting Web Studio – Comparative Period Report

When writing financial reports, it is common to have one that needs comparative numbers from a prior month. In Oracle HFM Financial Reporting Studio, we designed the columns of this report as follows: In FCCS Reporting Web Studio the parameters above work if the current month is not January as shown below: However, if the […]

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FCCS – An Introduction

For companies contemplating implementing FCCS, here is an insight of what you can expect. Oracle’s new product FCCS (Financial Consolidation and Close Cloud) was designed to replace HFM (Hyperion Financial Management). Since it is cloud based, subscribers eliminate the need for server maintenance and software upgrades and patches. FCCS incorporates pre-built out of the box […]

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FCCS and Financial Statements

Financial Statements – Balance Sheet, Income Statement, and Cash Flow Statement – are generated after completing the accounting period end close process. Proper design of Account hierarchy has always been the effective means of creating Balance Sheets and Income Statements. In Oracle Financial Consolidation and Close Cloud Service (FCCS), Movement dimension was designed to facilitate […]

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Close Manager – the Appropriate Tool to Manage Close Process

Don’t you wish you had data to evaluate the efficiency of your period-end close process? Wouldn’t it be nice to know where the bottlenecks are? We live in a high-tech world, but it is not surprising to see large companies still using whiteboards to monitor progress of their accounting close process. Period-end close tasks are […]

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FCCS Multiple Reporting Currencies

How many times have you encountered clients who asked that their consolidated financial statements be in more than one currency? FCCS has a built in solution to meet this request. Currencies in FCCS have 2 major properties: Reporting Currency and Triangulation Currency. These properties play a major role in translation and consolidation. Reporting Currency For […]

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Practical Application of Oracle HFM Consolidation Options

There are three consolidation options in Oracle Hyperion Financial Management (HFM): Consolidate All Consolidate All with Data Consolidate What each option does has been appropriately discussed in many articles, which also properly suggest to use the Consolidate All option sparingly. I wanted to share our experience on these consolidation methods. If the application design use […]

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Equity Overrides in HFM Implementations Give Clients Full Control

In an Oracle Hyperion Financial Management (HFM) implementation, we always use the historical rate to translate the subsidiary’s equity. Historical rate means the actual exchange rate used when the transaction was consummated. For me, the most practical way of achieving this is by using equity overrides. This gives the client full control of the actual translated […]

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The Wonderful World of Oracle HFM Alternate Hierarchies

In an Oracle Hyperion Financial Management (HFM) application, you can always create alternate hierarchies. We have created them for Entity, Accounts, and any of the custom dimensions. The guideline is always when the consultants leave, the HFM administrator must be able to efficiently maintain the application and meet the company’s management information and reporting needs. […]

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Understanding Intercompany Elimination Report

Intercompany elimination report is a very useful tool in analyzing intercompany balances. Plug Accounts play a major role as they store differences in intercompany balances and they group accounts with the same Plug Account in the Report. This allows HFM to match balances between Entities and the related Intercompany Partner. How do we get rid […]

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HFM Entity Moves from One Parent to Another

We had a client where, by nature of their business, base entities may move from one parent to another. However, all historical data must stay with their previous parent. Only prospective data will belong to the new parent. There may be several ways of complying with this client requirement, but for me, the simplest way […]

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HFM Security – Specific to Dimension Intersection

Hyperion Financial Management (HFM) data resides at the intersection of all the application dimensions. Consequently, data security should be defined at the dimension intersection. One of our clients requested us to review their HFM security in preparation for their annual audit. The application was previously built by a different consulting group and based on the […]

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Documentation – an Inherent Part of an HFM Implementation

A Hyperion Financial Management (HFM) application is always tailored to the client’s needs, business environment, and available data. It is almost impossible to lift an existing application and implement it in a different business environment. For this reason, documentation is extremely important. A design document ensures that the client and the consultant are on the […]

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Success Story: Replace TM1 with HFM as Consolidation Tool

HFM/FDMEE have been successfully replacing spreadsheets to achieve efficiency and accuracy during month end close. It is rarely discussed that HFM/FDMEE have also successfully replaced other systems used for consolidation and reporting. In one of our recent implementations, our client previously acquired a large group of companies based in Asia Pacific which had been using […]

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Oracle HFM Application Settings: Node Security

When building an HFM application, one of the application settings is Node Security which is either Parent or Entity. What is the difference between these two choices? Selecting “Entity” means that user access is defined strictly by entity security while “Parent” means that user access considers Parent security. To illustrate assume the following: 1. The […]

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