Income statement User guide

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Gilbert Douglas
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1 Insight Reports - Financial reporting Income statement User guide Pilot release version 1 Current: February 2018

2 Contents 1 Overview Running the Income statement (IS) report Navigation an running of Income statement Drill-up/ Drill-down IS prompts Understanding the Income Statement (IS) report Sample report Income statement tabs Report columns...9

1 Overview This report is part of a suite of new reports available under the Financial Reporting heading in the ANU Insight system: The Income statement (IS) provides comparative financial data for a

a revised Account Structure that has been updated from the previous FMR reports in ES Financials. 2 Running the Income statement (IS) report 2.

3 1 Overview This report is part of a suite of new reports available under the Financial Reporting heading in the ANU Insight system: The Income statement (IS) provides comparative financial data for a chosen Org Area/ project, with YTD and Full Year values for the following: Actuals Last Year and Current Year Budget Last Year and Current Year Forecast Current Year This report is structured around a revised Account Structure that has been updated from the previous FMR reports in ES Financials. 2 Running the Income statement (IS) report 2.1 Navigation/ running of Income statement This user guide provides information specific to running the IS report in Insight. For general information/ instructions on navigating and running all new Financial Reporting reports, please refer to the Insight - Financial reporting - Overview of Running Reports user guide. 2.2 Drill-up/ Drill-down A Drill-up/Drill-down feature is available for the new Account Structure in the IS report. This functionality allows you to drill down into each Account group until you reach the natural accounts. To drill down you can click on the hyperlink in the Account Structure, or right click and select Drill down. To drill back up a level, right click on the hyperlink and select Drill Up. Figure 1 -Drill-Up/Down Note: Drill down will take you through one Account group at a time, with the remaining Account groupings displayed on the screen. Expand and Collapse options are not available within this report. If you want to show the Account Structure expanded, please use the selections in Expand to account structure prompt. The calculated totals for the total Income and/or Expenditure will remain the same and not recalculate for the drill selection. Page 3 of 9

2 IS report prompts The IS report has a series of prompts on the 2 nd prompt page that drive the format and information displayed in the rows and columns.

4 2 IS report prompts The IS report has a series of prompts on the 2 nd prompt page that drive the format and information displayed in the rows and columns. The table below details the function of each prompt available. For general information on prompts in the new reports, please refer to the Insight Financial reporting Overview of Running Reports user guide. Figure 2 - IS prompts Table 1 - Options on second prompt page Prompt Fund Period actuals Period forecast Display Options Function Currently only the R (Recurrent Operations) fund is available. In future all funds will be available. Determines the data in the YTD Actuals (ACT) column in the report. This data is presented form ES Financials Note: Value beyond latest closed period cannot be chosen for this prompt. Determines the data in the Periodic forecast column in the report. This data is presented from the working forecast in TM1. This forecast will be snapshotted at specified dates after period end. This prompt is optional as it has pre-set selections. To change the default, check or uncheck the required box. Display current forecast Will display the current forecast column in the report. The current forecast is captured overnight from TM1. Display periodic forecast Will display the periodic forecast column in the report. This forecast is captured periodically from TM1. Display net position Will display the account groupings below Net Operating Position that make up the Net Position in the new Account Structure. Display values in $000 s Will display all values in $000 s rather than the default whole numbers Page 4 of 9

5 Prompt Summary detail pages and Function This prompt determines how the report will paginate/ tabulate. This is based on the Organisational Area/ GLC project selections. Refer below: Summary page only Will return the sum of the organisational areas and/or projects selected. E.g. Selection is Project A, Project B & Project C. The Summary report will return a one page report with values as the sum of Projects A+B+C. Detail pages only Detail report pages will return each of the individual Org Areas/ and or projects selected. E.g. Selection is Project A, Project B & Project C. The Detail report will return 3 pages with Projects A, B & C values on each individual page. Both summary and detail pages Returns a combination of Summary and Detail per above. E.g. Selection is Project A, Project B & Project C. This report will return page 1 as the sum of Projects A+B+C, and pages 2-4 as the individual projects. Important Note: If you require both summary and detail pages, then ensure you only chose the lowest level Org Areas required, not both the consolidated area and its children. Eg. If you require a summary and detail report for the Research School of Humanities & the Arts (RSHA), you would choose only the Departments as shown below. If you also check the RSHA box, you will receive an incorrect report. Correct selection Incorrect selection Expand to account structure This allows you to run the report with different Account Structure levels expanded. Level 1 being the most consolidated (Account Category) and Level 5 being the most expanded (Natural account). An example of the levels is shown in below. Level 1 Level 2 Level 3 Level 4 Level 5 Note: As the Account Structure is new (commenced Aug 2017), changes in the structure may be made over the coming year that may affect this presentation. Page 5 of 9

6 Prompt Function Organisational areas This refers to the Department structure and will provide a tree view for all levels up to Department. You can choose multiple Org Areas. This can be used in conjunction with the Summary and detail pages prompt (refer above) to receive the desired report/s. Ensure you only choose the single or lowest levels required in the tree. E.g. If you require Dept A only within school 1, then only click the check box for Dept A, not both school and department. Correct selection Incorrect selection If you have chosen Reporting by projects (browse projects by organisational areas) from the 1st prompt page, the Org Areas selection is presented only for the purpose of searching projects in the GLC projects prompt (see below). GLC projects This prompt will appear on the 3 rd prompt page if you have chosen either of the following from the 1st prompt page: Reporting by projects (search for projects) You can search for projects directly if you know the name or number. Reporting by projects (browse projects by organisational areas) You can search for projects based on their location in the Org Areas structure. Note: Please refer to Insight - Financial reporting - Overview of Running Reports for detailed information on how to use GLC projects prompts option. Page 6 of 9

7 3 Understanding the Income Statement (IS) report 3.1 Sample report A sample of a report is shown below. Figure 3 - Sample of Income Statement report (values hidden due to sensitivity) Key features of this report include: The columns of data have been split into Year to Date (YTD) and Full Year values. Many of the columns are prompt driven, from the second prompt page. Data is displayed in whole numbers, but can be changed to thousands in the prompt options. All values are shown as positive values. Any negatives are calculated values and represent an unfavorable result - with values in red font with brackets. Page 7 of 9

3.2 Income statement tabs The IS output will vary depending on the criteria selected for the Summary and detail pages prompt (refer Table 1

Summary page only - will return a single report tab Detail pages only will return multiple report tabs if multiple Org Area/ projects were

Note: If you have selected only a single Org Area/ project, all the options above will return only a single report tab.

8 3.2 Income statement tabs The IS output will vary depending on the criteria selected for the Summary and detail pages prompt (refer Table 1 above). Summary page only - will return a single report tab Detail pages only will return multiple report tabs if multiple Org Area/ projects were chosen Both summary and detail pages will return will return multiple report tabs if multiple Org Area/ projects were chosen. Note: If you have selected only a single Org Area/ project, all the options above will return only a single report tab. Example: Below are example reports returned for the following Org Areas selection in the College of Law: Org Areas selection: 1 st tab/ page of the IS report Income Statement summary Figure 4 - IS summary Subsequent tabs/ pages of the IS report Income statement by areas: Figure 5 - IS by areas tab Page 8 of 9

9 3.3 Report data/ columns The actuals data is sourced from ES-Financials and is currently updated on a periodic basis. This may become more frequent over time. The signage of all values has been flipped from the raw data in ES-Financials (ie. all income is shown as positive). Variances are presented as favorable/ (unfavorable) ie. any negatives are unfavorable. To table below provide further information on the data columns presented in the IS report. Table 2 - IS Columns explained. Section Column Name Data source Prompt driven YTD 2016 ACT 2017 ACT Prior year actuals from ES-Financials for the period selected at the Period- actuals prompt. This data will be static. Current year actuals from ES-Financials for the period selected at the Period- actuals prompt. Currently updated on a periodic basis. This may become more frequent over time. FULL YEAR 2016 ACT Prior year actuals from ES-Financials for the full year. This data will be static. No 2017 Current year budget from TM1. No BUD This represents the budget locked in the prior year and will be static FCAST Current year forecast from TM1. Also known as the Periodic Forecast P7 This is snapshotted/ updated from the Working Forecast in TM1 on a periodic basis. The snapshot deadlines are set by F&BS FCAST Current Current year forecast from TM1. Also known as the Current Forecast. This is snapshotted/ updated from the Working Forecast overnight, every night, and represents the latest forecast data entered in TM1. This forecast may equal the periodic forecast (above). Variances FCAST Px V BUD Variance between FCAST and BUD (Income) and BUD less FCAST (Expenses). Values are displayed as favorable (positive)/ unfavorable (negative). FCAST CURRENT V Variance between FCAST less BUD (Income) and BUD less FCAST (Expenses). Values are displayed as favorable (positive)/ unfavorable (negative). BUD Page 9 of 9

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