普华永道--中石油财务信息系统设计报告.pptx

Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,*,*,Click to edit Master title style,Click to edit Master text styles,Second level,Third level,System Design for FMIS Modification,*,Click to edit Master title style,Click to edit Master text styles,Second level,Third level,System Design for FMIS Modification,*,PetroChinaRequirements and design of FMIS modificationsFMIS enhancement project,December 1999,1,第1页,Contents,1.Business requirements3,2.Gap analysis10,3.Overall approach and design principles13,4.Business process overview15,5.Overview of system changes18,6.New data files and associated processes24,7.System processes for consolidation and reporting29,Appendix A-Report formats32,2,System Design for FMIS Modification,2,第2页,Business requirements,Chapter 1,3,第3页,To be able to do an IPO,PetroChina need to be able to produce certain key financial reports,To produce these reports,some changes to FMIS needs to be implemented.,Business requirement overview,The FMIS system need to be able to produce the following reports:,Annual consolidation reports as required by China Finance Ministry based on the PRC GAAP for joint-stock company.,Quarterly consolidation of reports of the overall ListCo based on the IAS is required for publicly listed companies.,Disclosure items are also required by IAS and PRC GAAP for joint-stock company.,Some other information is required to support annual auditing.,All the above reports(except the audit information)will need to be produced along the new PetroChina organization structure as described in the following page.The above reporting requirements are detailed in the next pages.,4,第4页,PetroChina,Level 1,PetroChina,Level 2,Specialized,Co/Business,Group,Level 3,Segment,Level 4,Type,E&P,.,.,.,Level 5,Business,Units,.,.,Gas&Pipeline,Downstream,Oil&Gas,E&P,Natural gas,(inc.gas pipeline),Refining&,Marketing,Petrochemicals,&marketing,Others,Refining,PetroChina reporting structure,Marketing,R&D,China oil,HQ,Beijing,E&P,HuaBei,G&P,HuaBei,Refinery,HuaBei,North China,Petr.Trade,China OG,research,institute,Level 6,Operations,Units,Level 7,Suboperations,Units,Oil field#1,Oil field#2,Oil field#3,District 1,District 2,District 3,5,第5页,PRC GAAP consolidation report requires the following data:,Business requirements for PRC consolidation,Individual PRC GAAP reports of all entity involved in consolidation.,Balance sheet(PRC GAAP),Income statement,Cash flow statement,Internal transactions reports,Internal transaction list,Internal product sales or purchase report,Internal rendering of service report or internal service purchase report,Internal long-term equity investment report,capital structure report,Internal payable or receivables,Required information for internal transactions,Counterpart,transaction type,period,beginning balance,credit amount,debit amount,ending balance,6,第6页,There are two types of changes that need to be made to comply with IAS,Business requirements for IAS consolidation,PRC consolidated financial statements with specific details,Individual PRC reports listed earlier,Ledger report,Transactions with different accounting treatment in IAS and PRC GAAP,Development costs-E&P segment specific,Cost of successful well(succeeded in the period),Assets and depreciation(straight line method vs UOP)and related tax credit,Assets class,accumulated depreciation amount based on reevaluated carrying amount by straight line method;depreciation amount based on un-reevaluated amount by unit of production method or straight line method(depend on assets class),Deferred business initial cost(pre-operation expenditures),Beginning balance,ending balance,Monthly revaluation of non-current monetary assets&liabilities(foreign currency item),Historical value(calculated by exchange rate of occurring date),reevaluated value of long-term loan(foreign currency),long-term deposit(foreign currency),other long-term monetary assets or liabilities.,7,第7页,IAS and PRC GAAP requires the following items for disclosure purpose:,Business requirements for disclosure purposes,Aging report of accounts receivable(PRC GAAP),Long-term equity investment(PRC GAAP),Investee,stock type,share number of stock,share percentage,amount,remarks,Long-term bond investment(PRC GAAP),Bond type,par value,rate,purchased amount,due date,interest of this year,accumulated interest,remarks,Other non-equity long-term investment(PRC GAAP),Debtor,principal,rate,due date,interest income of current period,accumulated interest,remarks,Long-term loan(PRC GAAP),Loaner,amount,due date,rate,term(If foreign loan)Foreign currency amount,RMB amount by exchange rate of balance sheet date,Bonds payable(PRC GAAP),Bond name,par value,issued date,issued amount,due date,interest expense of current year,accumulated interest,Related party transactions,(PRC GAAP&IAS),All data listed in internal transaction reports,only different entity name,Income analysis report(IAS),Special deductions relating to exploration and production activities,Income not subject to tax;Expenses not deductible for tax purposes,Movement of allowance for doubtful accounts,Balance at beginning of period,Provision,Deductions,Balance at end of period,Movements in allowance for diminution in value of inventories,Balance at beginning of period;Provision;Deductions;Balance at end of period,Movement report of PPE&accumulated depreciation,Cost:Beginning balance,additions,disposals,ending balance;,Accumulated depreciation:Beginning balance,charge for the year,disposals,ending balance,Movement of allowance of investment value diminution,Beginning balance;Provision;Deductions;Ending balance,Loans Analysis Report,Directors remuneration report,Salaries,allowances and other benefitsContribution to retirement benefit scheme,8,第8页,FMIS also need to produce certain information that is required to facilitate annual audit.,Business requirements for annual audit,The required information for accounts receivable,long-term equity investment,long-term non-equity investment has been listed in disclosure requirement.The only remaining items for annual audit are listed below:,Short-term investmentInvestment type,investee,security type,par value,historical cost,rate,due date,interest receivable or dividends receivable,premium/discount and its amortisation,Notes receivableNotes type,par value,rate,drawer,due date,Other receivableDebtor,amount,post due days,Assets revaluationAssets class,book value before revaluation,book value after revaluation,Short-term loanLoaner,amount,rate,due date,Notes payableOwner,par value,rate,due date,9,第9页,Gap analysis,Chapter 2,10,第10页,Changes in financial reporting process,PetroChina needs to implement a large scale change in its financial reporting process.,Current,Consolidation is done by the auditors using spreadsheets and manual data collection and manipulation,FMIS report is not compliant with PRC accounting standard for joint-stock company.,IAS report is produced by the auditors using manual method,Reporting is done for the whole CNPC with the current org structure,Use current chart of accounts,Future,Consolidation will be done by PetroChina accountants as part of the regular accounting process using FMIS,FMIS report will be,compliant with PRC accounting standard for joint-stock company.,AS report is produced by Petrochina accountants using FMIS,Reporting structure for PetroChina will be separated from the old CNPC.New org structure will be put in place,New chart of accounts will be in effect,11,第11页,Systems issues,The following systems issues are identified as critical to the ability for PetroChina to be able to do consolidation and produce the required reports,REQUIREMENT,Reconciliation of transactions that occurs across different accounting entities.,Some detailed information need to be passed up the corporate reporting structure.,SYSTEM ISSUE,This is difficult to do with the current FMIS since FMIS treats each accounting entity as independent from other accounting entities.,This is not possible in the current FMIS since FMIS only transfer reports,not detailed information.,CONSOLIDATION PROCESS,REQUIREMENT,IAS report have some different grouping of accounts compared to PRC reports,In the interim,CNPC requires reporting based on locations in addition to the“normal”reporting procedure along segment,Disclosure items need to be produced and rolled up,SYSTEM ISSUE,Current FMIS aggregates report up the hierarchy and it is not possible to see or reconstruct the individual accounts,therefore it is not possible to regroup accounts at higher level.,Currently FMIS reporting hierarchy follows a strict tree pattern with one entity reporting to only one parent.,Current FMIS can not produce this data nor roll it up,REPORTING PROCESS,12,第12页,Overall approach and design principles,Chapter 3,13,第13页,Design principles/goals,The design has to be implementable prior to the IPO,Modified FMIS must be able to produce all required reports with minimal manual work,Avoid major changes in business process,Avoid major changes in FMIS which needs long development time and/or high risk of destabilizing FMIS,Marginal changes to FMIS is preferred to marginal change in business process,Changes in business process or FMIS should have minimal dependency on short-term improvement to IT infrastructure.,Due to current limitations in telecommunication,the amount of data that needs to be transferred should be minimized.,To ease transition,the modified FMIS need to have data compatibility with current FMIS,The following principles have been followed in creating the design for the new system:,14,第14页,Business process overview,Chapter 4,15,第15页,Location,Level 5,Segment,Level 3,HQ Corp,Level 1,Lgr,Lgr,Lgr+,Lgr+,IAS,IAS,PRC,Segment A,Segment B,Elim,Elim,PRC,Elim,IAS,Elim,IAS,Elim,IAS,Lgr+,Lgr+,IAS,IAS,Elim,IAS,Elim,IAS,IAS,Different segment,different location,Same segment,different location,Same segment,same location,Different segment,same location,LEGEND,Ledgers,Reports,Modified report/consldtn system,Consolidation entry,Consolidation file,Data flow diagram of rollup process,PRC,PRC,Lgr,Lgr,Notes:,Lgr+=ledger report plus some other,special reports.,16,第16页,Roll up and consolidation process chart,1.1 Enter transactions,for Level 6 HO,1.5 Enter same-,segment,same-location,elimination entries,1.4 Import reports,from level 6,HO ledgers,1.2 Create reports for,Level 6 HO ledgers,1.3 Receive reports,&import data,from level 7(district),1.8 Produce IAS,adjustment file,(IAS file),1.7 Produce BU segment,PRC report,1.6 Determine,IAS adjustments,1.9 Send PRC,BU segment report,and IAS file to Beijing,Business group Finance,2.1 Receive PRC report,from BU Location segments,2.2 Enter different-segment,same-location,elimination entries,2.4 Send different-segment,same-location elimination,file to Beijing H.Q.,2.3 Produce,Location PRC report,3.1 Receive BU segment,PRC report and IAS file,1.10 Send PRC report to,Location HO,finance,3.2 Enter same-segment,different-locations,elimination entries,3.3 Produce bus.group,PRC report and,IAS adjusted report,4.1 Receive PRCreport and segment,IAS file,4.2 Receive,different-segment,same-location,elimination files,4.3 Enter different-segment,different-location,elimination entries,4.5 Produce corporate,PRC reports and,IAS reports,BU Location,Location HO,Finance,Segment Finance,(Beijing),Corp,Finance,3.4 Send business group,PRC report and,IAS file to corp,4.4 Enter IAS adjustments,(corporate level),Level 5,Level 3,Level 1,17,第17页,Overview of system changes,Chapter 5,18,第18页,Data flow diagram-Transaction system,Some changes are required in the FMIS Transaction system to collect required data from all accounting entitiesExisting,functionality,Transaction,DB,Enter accounting,entries to FMIS,Produce,Ledger,report,T1,Special disclosure,items,Ledger,reports,file,F2,Disclosure,&IAS,supporting,data file,F1,Internal,transaction,data file,New,functionality,P4,Produce,special disclosure,items report,P2,Produce internal,transactions,data file,P3,Enter special,disclosure&IAS,support data,P1,For internal,transactions,enter customer/,supplier code,19,第19页,New or modified functionalities-Transaction system,New data file,F1-Internal transaction data file,F2-Disclosure&IAS supporting data file,New tables,T1-Special disclosure items,New system processes,P1-Internal transaction data entry,P2-Internal transaction file export,P3-Special disclosure items&IAS supporting data entry,P4-Special disclosure items&IAS supporting file export,Changes to FMIS Transaction system is summarized in the following list:,20,第20页,F3,Elimination,data file,Data flow diagram-Reporting system,New,functionality,Lower,level,Reports,Ledger,report,files,Aggregation,P7,Elimination,process,Existing,functionality,Aggregated,Reports,Consolidated,Ledger,Report,P16,Export/print,consolidated,ledger report,T2,Elimination,F2,Disclosure,&IAS,supportingdata file,F1,Internal,transaction,data file,T4,Internal,Transaction,P13,Export,remaining,internal,transaction,Elimination,Entries,Internal,transaction&,elimination,reports&queries,Analyze info and,determine required,elimination,P5,Query,view,print,P14,Export,disclosures&,IAS supporting,data,P8,Export,Elimination,entries,F4,IAS,adjustment,entry file,F3,Elimination,data file,Ledger,report,files,F2,Disclosure,&IAS,supporting,data file,F1,Internal,transaction,data file,F4,IAS,adjustment,entry file,P12,Export IAS,adjustment,P15,Print,IAS reports,T3,IAS adj,IAS adjustment,entries,Analyze info and,determine required,IAS adjustment,P9,Query IAS,adjustment,data,IAS adjustment,info reports,Some major changes are required in the FMIS Reporting system,P19,Import internal,transaction,P6,Enter elimination,entries,P18,Import elimination,entries,P17,Import IAS,adjustments,P10,Enter IAS,adjustments,P15,Print,PRC reports,P20,Import disclosure,/IAS support data,T5,Consolidation,account pair,21,第21页,New or modified functionalities-Reporting system,New data file,F1-Internal transaction data file,F2-Disclosure&IAS supporting data file,F3-Elimination data file,F4-IAS adjustment entry file,New data tables,T2-Elimination entry table,T3-IAS adjustment entry table,T4-Internal transaction table,T5-Consolidation account pair table,The changes to the FMIS Reporting system is shown in the following list:,New system processes,P5-Query info for elimination,P6-Enter elimination entries,P7-Elimination processP8-Export elimination,P9-Query info for IAS adjustment,P10-Enter IAS adjustments,P11-IAS adjustment process,P12-Export IAS adjustments,P13-Export remaining internal transactions,P14-Export disclosure&IAS support data,P15-Print IAS report,P16-Print/Export PRC report,P17-Import IAS adjustments,P18-Import elimination entries,P19-Import internal transactions,P20-Import disclosure/AIS support data,22,第22页,Required new/modified reports,PRC report&disclosure requirement,PRC Income statement report modification,PRC Balance sheet modification,PRC Cash flow statement modification,Internal transaction r