Archivi categoria: HFM

The power of Smart View

Knowledge transfer on Oracle Hyperion Smart View is one of the first values added on a successfull EPM project. A couple of training days should be enough to put users in a position to build their analysis views. Afterwards, it takes practice.
We put ourselves on the side of the manager of the consolidated financial statements that must explain the effects of the consolidation journals to the auditing firm: the Financial Reporting reports are a reliable basis, but if we have to split them in different versions that provide different views of the same number we risk make them proliferate and put the user in the condition to launch an infinite number of prints of the same data seen from different points of view.
Smart View Ad Hoc Analysis: querying data on different dimensions of statutory and managerial reporting. In zero time and sharing it with the various data stakeholders.

Movements Consolidation

What is HFM’s strong point in making the Consolidated Financial Statements? Several points I would say, but today we appreciate the consolidation of each individual balance sheet movement.

Imagine an HFM application that, for the purposes of the Notes to the Financial Statements, presents the following flows available for the various sections of the Balance Sheet statement:

  • Opening
  • Profit Allocation
  • Dividends
  • Opening exchange rate difference
  • Exchange rate difference movements
  • Previous year exchange rate difference
  • Increase
  • Increase intercompany
  • Share capital increase
  • Loss cover fund
  • New Consolidation
  • Decrease
  • Decrease intercompany
  • Write off fund Surplus Discharge
  • Share capital decrease
  • Short term movements
  • Reposting
  • Merge
  • Write off
  • Profit of the year
  • Cash flow hedge reserve
  • Amortized cost bank payables
  • Change in consolidation scope
  • Long term movements
  • Reversal Adjstments previous year
  • Historical Equity value
  • Closing

Well, in the consolidation rules we can handle the various cases, such as Share Capital or Investments Historical Cost elimination; for each of these cases we can manage as many sub-cases as the movements associated with the account to be eliminated: we generate different consolidation reserves and conversion effects on our group and minority equity.

The model is built on a statutory basis (therefore it reflects IFRS or Local Gaaps for Italy) but the development and customization capabilities are really very high.

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Migrate to HFM

This is the lighter, faster, simpler HFM version ever made before. Oracle “dixit”.

We say: great opportunity to migrate to HFM, especially for customers having following HFM versions: 11.1.1.x (great versions, but really very old in terms of compatibility, etc …), and (the worst ever done before).

From out point of view (which is the same as that of the customer) consider the following to migrate to HFM

  • Improve navigation into EPM and HFM tasks and functions;
  • More HFM / EPM applications open at the same time;
  • More tasks in HFM application open at the same time (consolidation, data load, post journal, …);
  • The better Smart View even done before; both for Data Entry and Reporting;
  • New copy application tools, to make development applications for testing solutions;
  • New FDM into the same workspace of HFM;
  • Completed data integration with Planning and Essbase, also by FDM;
  • Solved compatibility issues with MS Office and browsers.

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Equity translations

HFM provides a Closing rate to translate Balance sheet data and an Average rate to translate Profit & Loss data. There is not an Historical exchange rate to translate the equity movements.

A quick solution to keep the equity translated at the historical exchange rate is a manual journal entry with journal HFM module.

Another solution developed by Experlab is an HFM rule on consolidation currency: all the exchange effects on equity accounts coming from a different Closing rate are reversed on a single equity account.

For more info on this or other HFM translation topics: mailto or