Financial Consolidation using Oracle Hyperion Financial Management

As a result of growing requirements for transparent way of financial reporting and cost optimization I have decided to introduce and clearly describe a tool for creating and analyzing consolidated financial statements the Oracle Hyperion Financial Management and demonstrate financial consolidation according to IFRS and CAS standards. The first part of the thesis is about theoretical narration of methods and principles of compiling consolidated financial statements. I put a big emphasis on an explanation all terms and assigning them into real context. Except for theoretical narration is also introduced and described the Oracle Hyperion Financial Management tool, whereon are demonstrated processes of financial consolidation. The Hyperion tool is able to provide current and accurate information about financial situation in a holding chain for all necessary purposes. The example of insertion French subsidiary's General Ledger into consolidated accounting is demonstrated in the thesis. Complete description contains a process of synchronization synthetic accounts with target accounts defined in the system, a process of elimination intercompany transactions, conversion of foreign currency, check of data consistency, final generation of financial reports and interpretation consolidated performance indicators according to defined dimensions. The primary output of the thesis is an evaluation of value added for potential customer. The thesis has been produced in collaboration with Neit Consulting and Oracle Czech Republic Company.