income statement user guide...anu insight – financial reporting – income statement income...

ANU Insight – Financial Reporting – Income Statement

Insight Reports - Financial reporting

Income statement

User guide

Current: August 2018


Contents 1 Overview .......................................................................................................................................................................... 3

2 Running the Income statement (IS) report ....................................................................................................................... 3 2.1 Navigation/ running of Income statement .....................................................................................................................................................................3 2.2 Drill-up/ Drill-down ........................................................................................................................................................................................................3

2 IS report prompts ............................................................................................................................................................. 4

3 Understanding the Income Statement (IS) report ............................................................................................................. 7 3.1 Sample report ................................................................................................................................................................................................................7 3.2 Income statement tabs ..................................................................................................................................................................................................7 3.3 Report data/ columns ....................................................................................................................................................................................................8


Income Statement - user guide v2 of 10

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 allows you to drill down into each Account group until you reach the natural accounts. This feature is currently disabled as @May 2018. Users will be advised when it is available again. The notes below outline the functionality of this feature.

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.

2 IS report prompts The IS report has a series of prompts on the 2nd 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 Function

Fund Currently only the R (Recurrent Operations) fund is available. In future all funds will be available.

Period – actuals 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.

Published – forecast Determines the data in the Published forecast column in the report. This data is presented from the published forecast in TM1.

This forecast is snapshotted periodically based on a timetable set by F&BS.

Display Options 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 current period columns

Will display the current period/Month column for the selected period.

Display values in $000’s

Will display all values in $000’s rather than the default whole numbers



Prompt Function

Summary and detail pages

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 Most consolidated or most detailed 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

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.

Level 1 – Account

Level 5



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 3rd 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.



3 Understanding the Income Statement (IS) report

3.1 Sample report

A sample of a report without the optional “Month” section 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 Month (optional), 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.

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:

1st 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

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”.

Table below provides further information on the data columns presented in the IS report.

Table 2 - IS Columns explained.

Section Column Name

Data source Prompt driven

Month 2018

Bud

Prior year actuals from ES-Financials for the period selected at the “Period- actuals” prompt.

This data will be static.

Yes

2018

Act

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.

Yes

YTD 2018

Bud

Prior year actuals from ES-Financials till the period selected at the “Period- actuals” prompt.


Yes

2018

Act

Current year actuals from ES-Financials till the period selected at the “Period- actuals” prompt.

Currently updated on a periodic basis. This may become more frequent over time.

Yes

FULL YEAR

2017

Act

Prior year actuals from ES-Financials for the full year.


No

2018

Bud

Current year budget from TM1.

This represents the budget locked in the prior year and will be static.

No



2018

Fcast

MMM

Current year forecast from TM1.

Also known as the “Published Forecast”.

This is snapshotted/ updated from the “Published Forecast” in TM1 on a periodic basis.

The snapshot deadlines are set by F&BS.

Yes

2018

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 published forecast (above).

Yes

Variances Bud

V

Act

Variance between the Actuals and the Budget for that section(Month, YTD, FY)

Values are displayed as favorable (positive)/ unfavorable (negative).

No

Fcast Px

V

Bud

Variance between FCAST and BUD (Income) and BUD less FCAST (Expenses).


Yes

Fcast Current

V

Bud

Variance between FCAST less BUD (Income) and BUD less FCAST (Expenses).


Yes

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