Validate Your Results
Well folks, you do know some things are beyond the basic scope of this paper. There is much more you could do, but the plain reality is this could be all you need to do in order to manage this kind of application. This has been implemented in this similar but of course more rigorous design. This works!
Our results should provide for a final balance of Inventory in our total flow of $250 and a final balance of the Cost of Goods Sold account total flow also of $250. Remember here we sold 50% of our inventory.
Our results should provide for a final balance of Inventory in our total flow of $250 and a final balance of the Cost of Goods Sold account total flow also of $250. Remember here we sold 50% of our inventory.
Open The Next Period
Opening the next period is a process that may or may not be required in your consolidation application. Much depends on how you transfer information and whether or not you consolidate based on YTD settings for your application. In any event, opening the next period is beyond our tip sheet, but it may require advanced logic. Good luck in your application!
Richard Jabbour, C.F.A. spent a number of years as a business research analyst evaluating financial results and reports from a wide variety of companies. He transitioned to business consulting and the execution of business requirements into business systems in 1997. He is a senior ECC FICO and BPC consultant. Prior to this, he worked at various organizations, helping implement complex data warehouses and business scenarios in SAP ECC. He has worked with several BI tools including SAP NetWeaver BW, SAP BusinessObjects, and is a certified associate consultant in BPC for NW. He has extensive experience in data modeling, design, configuration, and performance tuning having held many professional certifications in Oracle technologies. You may contact Richard via email at rbjabbour@bellsouth.net. |
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