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  • Programming Language most relevant to the Financial sector?

    - by NoviceCoding
    I am a freshman in college and doing a software engineering/ finance double major. I've been learning programming on my own and have a good bit of familiarity with php by now. I was wondering what you guys think the most relevant programming language is for financial/investment banking use? I have read this thread: Books on developing software for financial markets/investment banks I want to start learning/reading up on a language (the basics not financial/quant stuff) to set a foundation for the future financial/quant stuff.

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  • Upcoming Webcast on June 17: Gain Control Over Your Financial Close

    - by Theresa Hickman
    Accenture and Oracle EPM (Enterprise Perfromance Management) and GRC (Governance, Risk, and Compliance) will be hosting a live webcast called "Gain Control Over Your Financial Close - Confidence in the Process, Trust in the Numbers." When: Thursday, June 17, 2010 Time: 9:00am PST (Noon EST) Don't miss this chance to find out how you could optimize the financial close process and transform the speed, quality and integrity of your financial reporting. For more information and to register for this event, see this webpage.

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  • How do I learn to develop financial software?

    - by Jack Smartie
    I would like to know what I have to learn to become a financial software developer in the area of brokerage/investment software. I apologize if this question is off topic. I'm not sure where to put it. What programming language(s) is most commonly used in the financial world? Financial software requires highly accurate and redundant features. Are these programming skills learned through experience, a class, or a book?

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  • Survey Probes the Project Management Concerns of Financial Services Executives

    - by Melissa Centurio Lopes
    Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} Do you wonder what are the top reasons why large projects in the financial industry fail to meet budgets, schedules, and other key performance criteria? Being able to answer this question can provide important insight and value of good project management practices for your organization. According to 400 senior executives who participated in a new survey conducted by the Economist Intelligence Unit and sponsored by Oracle, unrealistic project goals is the main reason for roadblocks to success Other common stumbling blocks are poor alignment between project and organizational goals, inadequate human resources, lack of strong leadership, and unwillingness among team members to point out problems. This survey sample also had a lot to say about the impact of regulatory compliance on the overall portfolio management process. Thirty-nine percent acknowledged that regulations enabled efficient functioning of their businesses. But a similar number said that regulations often require more financial resources than were originally allocated to bring projects in on time. Regulations were seen by 35 percent of the executives as roadblocks to their ability to invest in the organization’s growth and success. These revelations among others are discussed in depth in a new on-demand Webcast titled “Too Good to Fail: Developing Project Management Expertise in Financial Services” now available from Oracle. The Webcast features Brian Gardner, editor of the Economist Intelligence Unit, who presents these findings from this survey along with Guy Barlow, director of industry strategy for Oracle Primavera. Together, they analyze what the numbers mean for project and program managers and the financial services industry. Register today to watch the on-demand Webcast and get a full rundown and analysis of the survey results. Take the Economist Intelligence Unit benchmarking survey and see how your views compare with those of other financial services industry executives in ensuring project success.  Read more in the October Edition of the quarterly Information InDepth EPPM Newsletter

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  • User is trying to leave! Set at-least confirm alert on browser(tab) close event!!

    - by kaushalparik27
    This is something that might be annoying or irritating for end user. Obviously, It's impossible to prevent end user from closing the/any browser. Just think of this if it becomes possible!!!. That will be a horrible web world where everytime you will be attacked by sites and they will not allow to close your browser until you confirm your shopping cart and do the payment. LOL:) You need to open the task manager and might have to kill the running browser exe processes.Anyways; Jokes apart, but I have one situation where I need to alert/confirm from the user in any anyway when they try to close the browser or change the url. Think of this: You are creating a single page intranet asp.net application where your employee can enter/select their TDS/Investment Declarations and you wish to at-least ALERT/CONFIRM them if they are attempting to:[1] Close the Browser[2] Close the Browser Tab[3] Attempt to go some other site by Changing the urlwithout completing/freezing their declaration.So, Finally requirement is clear. I need to alert/confirm the user what he is going to do on above bulleted events. I am going to use window.onbeforeunload event to set the javascript confirm alert box to appear.    <script language="JavaScript" type="text/javascript">        window.onbeforeunload = confirmExit;        function confirmExit() {            return "You are about to exit the system before freezing your declaration! If you leave now and never return to freeze your declaration; then they will not go into effect and you may lose tax deduction, Are you sure you want to leave now?";        }    </script>See! you are halfway done!. So, every time browser unloads the page, above confirm alert causes to appear on front of user like below:By saying here "every time browser unloads the page"; I mean to say that whenever page loads or postback happens the browser onbeforeunload event will be executed. So, event a button submit or a link submit which causes page to postback would tend to execute the browser onbeforeunload event to fire!So, now the hurdle is how can we prevent the alert "Not to show when page is being postback" via any button/link submit? Answer is JQuery :)Idea is, you just need to set the script reference src to jQuery library and Set the window.onbeforeunload event to null when any input/link causes a page to postback.Below will be the complete code:<head runat="server">    <title></title>    <script src="jquery.min.js" type="text/javascript"></script>    <script language="JavaScript" type="text/javascript">        window.onbeforeunload = confirmExit;        function confirmExit() {            return "You are about to exit the system before freezing your declaration! If you leave now and never return to freeze your declaration; then they will not go into effect and you may lose tax deduction, Are you sure you want to leave now?";        }        $(function() {            $("a").click(function() {                window.onbeforeunload = null;            });            $("input").click(function() {                window.onbeforeunload = null;            });        });    </script></head><body>    <form id="form1" runat="server">    <div></div>    </form></body></html>So, By this post I have tried to set the confirm alert if user try to close the browser/tab or try leave the site by changing the url. I have attached a working example with this post here. I hope someone might find it helpful.

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  • Want To Transform My Career To Oracle Financial

    - by MemphisDeveloper
    I am a senior .Net developer, with years of banking experience, but I think I have maxed out my earning potential. I am thinking that an Oracle Financial developer would be a route that would allow me to make more money yet still be a developer. My problem is I don’t know exactly how to make this jump. Can anyone here give me some advice about how to learn it and how to convince someone to give me a shot to prove what I have learned?

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  • Oracle Financial Management Analytics 11.1.2.2.300 is available

    - by THE
    (guest post by Greg) Oracle Financial Management Analytics 11.1.2.2.300 is now available for download from My Oracle Support as Patch 15921734 New Features in this release: Support for the new Oracle BI mobile HD iPad client. New Account Reconciliation Management and Financial Data Quality Management analytics Improved Hyperion Financial Management analytics and usability enhancements Enhanced Configuration Utility to support multiple products. For HFM, FCM or ARM, and FDM, we support both Oracle and Microsoft SQL Server database. Simplified Test to Production migration of OFMA. Web browsers support for Oracle Financial Management Analytics: Internet Explorer Version 9 - The Oracle Financial Management Analytics supports the Internet Explorer 9 Web browser (for both 32 and 64 bit). Firefox Version 6.x - The Oracle Financial Management Analytics supports the Firefox 6.x Web browser. Chrome Version 12.x - The Oracle Financial Management Analytics supports the Chrome 12.x Web browser. See OBIEE Certification Matrix 11.1.1.6:  http://www.oracle.com/technetwork/middleware/ias/downloads/fusion-certification-100350.html Oracle Financial Management Analytics Compatibility: The Oracle Financial Management Analytics supports the following product version: Oracle Hyperion Financial Data Quality Management Release 11.1.2.2.300 Oracle Financial Close Manager Release 11.1.2.2.300 Oracle Hyperion Financial Management Release 11.1.2.2.300  

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  • Navigating the Unpredictable Swinging of the Financial Regulation Pendulum

    - by Sylvie MacKenzie, PMP
    Written by Guest Blogger: Maureen Clifford, Sr Product Marketing Manager, Oracle The pendulum of the regulatory clock is constantly in motion, albeit often not in any particular rhythm.  Nevertheless, given what many insurers have been through economically, any movement can send shock waves through critical innovation and operational plans.  As pointed out in Deloitte’s 2012 Global Insurance Outlook, the impact of regulatory reform can cause major uncertainty in the area of costs.  As the reality of increasing government regulations settles in, the change that comes along with it creates more challenges in compliance and ultimately on delivering the optimum return on investment.  The result of this changing environment is a proliferation of compliance projects that must be executed with an already constrained set of resources, budget and time. Insurers are confronted by the need to gain visibility into all of their compliance efforts and proactively manage them. Currently that is very difficult to do as these projects often are being managed by groups across the enterprise and they lack a way to coordinate their efforts and drive greater synergies.  With limited visibility and equally limited resources it is no surprise that reporting on project status and determining realistic completion of these projects is only a dream. As a result, compliance deadlines are missed, penalties are incurred, credibility with key stakeholders and the public is jeopardized and returns and competitive advantage go unrealized. Insurers need to ask themselves some key questions: Do I have “one stop” visibility into all of my compliance efforts?  If not, what can I do to change that? What is top priority and how does that impact my already taxed resources? How can I figure out how to best balance my resources to get these compliance projects done as well as keep key innovation and operational efforts on track? How can ensure that I have all the requisite documentation for each compliance project I undertake? Dealing with complying with regulatory efforts is a necessary evil. Don't let the regulatory pendulum sideline your efforts to generate the greatest return on investment for your key stakeholders.

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  • need example sql transaction procedures for sales tracking or financial database [closed]

    - by fa1c0n3r
    hi, i am making a database for an accounting/sales type system similar to a car sales database and would like to make some transactions for the following real world actions salesman creates new product shipped onto floor (itempk, car make, year, price).   salesman changes price.   salesman creates sale entry for product sold (salespk, itemforeignkey, price sold, salesman).   salesman cancels item for removed product.   salesman cancels sale for cancelled sale    the examples i have found online are too generic...like this is a transaction... i would like something resembling what i am trying to do to understand it.  anybody have some good similar or related sql examples i can look at to design these? do people use transactions for sales databases?  or if you have done this kind of sql transaction before could you make an outline for how these could be made?  thanks  my thread so far on stack overflow... http://stackoverflow.com/q/4975484/613799

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  • Business knowledge in a large financial org?

    - by Victor
    As a programmer working in the finance industry, I recently got a project that is a hedge fund adminsitrative application(used to calculate NAVs, allocate assets etc.) From a business point of view this is a good thing. When we think of our 'next' project, typically the impulse is to think in terms of technology. e.g: 'I want to work on a project that uses SOA/cloud etc etc.' I am interested to know if anyone while career planning also takes into account the business aspect of a future project. i.e. what the application does. So does anybody ever think like this : 'I wish to work on a trading system so I can understand capital markets better.' instead of 'I want to work on a project that uses SOA/cloud etc etc.' I say this because it appears to me in the finance domain, for senior position, good business knowledge pays well. So maybe a guy that knows more business but maybe not so much latest technologies is at an advantage? The rockstar programmer seems more suited for an aggressive startup. Particularly big old finance orgs rarely invest in tech just for the 'cool factor'. No?

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  • Managing Operational Risk of Financial Services Processes – part 1/ 2

    - by Sanjeevio
    Financial institutions view compliance as a regulatory burden that incurs a high initial capital outlay and recurring costs. By its very nature regulation takes a prescriptive, common-for-all, approach to managing financial and non-financial risk. Needless to say, no longer does mere compliance with regulation will lead to sustainable differentiation.  Genuine competitive advantage will stem from being able to cope with innovation demands of the present economic environment while meeting compliance goals with regulatory mandates in a faster and cost-efficient manner. Let’s first take a look at the key factors that are limiting the pursuit of the above goal. Regulatory requirements are growing, driven in-part by revisions to existing mandates in line with cross-border, pan-geographic, nature of financial value chains today and more so by frequent systemic failures that have destabilized the financial markets and the global economy over the last decade.  In addition to the increase in regulation, financial institutions are faced with pressures of regulatory overlap and regulatory conflict. Regulatory overlap arises primarily from two things: firstly, due to the blurring of boundaries between lines-of-businesses with complex organizational structures and secondly, due to varying requirements of jurisdictional directives across geographic boundaries e.g. a securities firm with operations in US and EU would be subject different requirements of “Know-Your-Customer” (KYC) as per the PATRIOT ACT in US and MiFiD in EU. Another consequence and concomitance of regulatory change is regulatory conflict, which again, arises primarily from two things: firstly, due to diametrically opposite priorities of line-of-business and secondly, due to tension that regulatory requirements create between shareholders interests of tighter due-diligence and customer concerns of privacy. For instance, Customer Due Diligence (CDD) as per KYC requires eliciting detailed information from customers to prevent illegal activities such as money-laundering, terrorist financing or identity theft. While new customers are still more likely to comply with such stringent background checks at time of account opening, existing customers baulk at such practices as a breach of trust and privacy. As mentioned earlier regulatory compliance addresses both financial and non-financial risks. Operational risk is a non-financial risk that stems from business execution and spans people, processes, systems and information. Operational risk arising from financial processes in particular transcends other sources of such risk. Let’s look at the factors underpinning the operational risk of financial processes. The rapid pace of innovation and geographic expansion of financial institutions has resulted in proliferation and ad-hoc evolution of back-office, mid-office and front-office processes. This has had two serious implications on increasing the operational risk of financial processes: ·         Inconsistency of processes across lines-of-business, customer channels and product/service offerings. This makes it harder for the risk function to enforce a standardized risk methodology and in turn breaches harder to detect. ·         The proliferation of processes coupled with increasingly frequent change-cycles has resulted in accidental breaches and increased vulnerability to regulatory inadequacies. In summary, regulatory growth (including overlap and conflict) coupled with process proliferation and inconsistency is driving process compliance complexity In my next post I will address the implications of this process complexity on financial institutions and outline the role of BPM in lowering specific aspects of operational risk of financial processes.

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  • EPM 11.1.2.2 Architecture: Financial Performance Management Applications

    - by Marc Schumacher
     Financial Management can be accessed either by a browser based client or by SmartView. Starting from release 11.1.2.2, the Financial Management Windows client does not longer access the Financial Management Consolidation server. All tasks that require an on line connection (e.g. load and extract tasks) can only be done using the web interface. Any client connection initiated by a browser or SmartView is send to the Oracle HTTP server (OHS) first. Based on the path given (e.g. hfmadf, hfmofficeprovider) in the URL, OHS makes a decision to forward this request either to the new Financial Management web application based on the Oracle Application Development Framework (ADF) or to the .NET based application serving SmartView retrievals running on Internet Information Server (IIS). Any requests send to the ADF web interface that need to be processed by the Financial Management application server are send to the IIS using HTTP protocol and will be forwarded further using DCOM to the Financial Management application server. SmartView requests, which are processes by IIS in first row, are forwarded to the Financial Management application server using DCOM as well. The Financial Management Application Server uses OLE DB database connections via native database clients to talk to the Financial Management database schema. Communication between the Financial Management DME Listener, which handles requests from EPMA, and the Financial Management application server is based on DCOM.  Unlike most other components Essbase Analytics Link (EAL) does not have an end user interface. The only user interface is a plug-in for the Essbase Administration Services console, which is used for administration purposes only. End users interact with a Transparent or Replicated Partition that is created in Essbase and populated with data by EAL. The Analytics Link Server deployed on WebLogic communicates through HTTP protocol with the Analytics Link Financial Management Connector that is deployed in IIS on the Financial Management web server. Analytics Link Server interacts with the Data Synchronisation server using the EAL API. The Data Synchronization server acts as a target of a Transparent or Replicated Partition in Essbase and uses a native database client to connect to the Financial Management database. Analytics Link Server uses JDBC to connect to relational repository databases and Essbase JAPI to connect to Essbase.  As most Oracle EPM System products, browser based clients and SmartView can be used to access Planning. The Java based Planning web application is deployed on WebLogic, which is configured behind an Oracle HTTP Server (OHS). Communication between Planning and the Planning RMI Registry Service is done using Java Remote Message Invocation (RMI). Planning uses JDBC to access relational repository databases and talks to Essbase using the CAPI. Be aware of the fact that beside the Planning System database a dedicated database schema is needed for each application that is set up within Planning.  As Planning, Profitability and Cost Management (HPCM) has a pretty simple architecture. Beside the browser based clients and SmartView, a web service consumer can be used as a client too. All clients access the Java based web application deployed on WebLogic through Oracle HHTP Server (OHS). Communication between Profitability and Cost Management and EPMA Web Server is done using HTTP protocol. JDBC is used to access the relational repository databases as well as data sources. Essbase JAPI is utilized to talk to Essbase.  For Strategic Finance, two clients exist, SmartView and a Windows client. While SmartView communicates through the web layer to the Strategic Finance Server, Strategic Finance Windows client makes a direct connection to the Strategic Finance Server using RPC calls. Connections from Strategic Finance Web as well as from Strategic Finance Web Services to the Strategic Finance Server are made using RPC calls too. The Strategic Finance Server uses its own file based data store. JDBC is used to connect to the EPM System Registry from web and application layer.  Disclosure Management has three kinds of clients. While the browser based client and SmartView interact with the Disclosure Management web application directly through Oracle HTTP Server (OHS), Taxonomy Designer does not connect to the Disclosure Management server. Communication to relational repository databases is done via JDBC, to connect to Essbase the Essbase JAPI is utilized.

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  • Thunderbird FireTray Add-on - Must close twice

    - by Marcin
    I've installed Thunderbird and FireTray addon, then checked to minimize to tray on close. Now, if I start Thunderbird after quitting (Win+Q) and try to close with Alt+f4: for the first time it's minimised properly to tray on each next time I need to double press "close button", and if the window is not maximised firstly it maximizes (first Alt+f4), then closes(second Alt+f4) Could you help me, please? Ubuntu 11.10, Unity 2d

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  • How do I disable all lid close processes?

    - by Mat
    I want to be able to close my laptop without Ubuntu registering it. I've been looking everywhere and I've found plenty of people with the same problem but no real solutions. Obviously I have set the lid close setting to 'do nothing' for both AC and battery, but when I close the lid it still blanks the screen, disconnects from external monitors, and brings up the lock screen when I reopen it. Some people have suggested disabling the lock screen, but this doesn't stop the screen blanking and external displays disconnecting, and I don't want to disable the lock anyway, as I still want it when I tell Ubuntu to lock or sleep or whatever else. Others have suggested it's something to do with ACPI support, but I have tried changing some ACPI scripts, and even removed them completely (e.g. /etc/acpi/lid.sh and /etc/acpi/events/lidbtn) and it makes no difference. There must be a bit of code somewhere that can just be removed or commented out or altered to prevent any lid close actions - does anyone know where? I know this has been asked before, but I'm getting really frustrated with this problem. I'm disappointed to say that I'm actually using Windows 7 more often just because it's quite happy to completely ignore the closed lid. So I just wanted to check, are we any closer to a real solution for this problem?

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  • MS Word - Close Word when you close the last open document **using keyboard**

    - by Chad
    In MS Word, by default, you can use: Ctrl+F4 to close Word Ctrl+W to close the current document Is it possible to make Word close when you close the last open document? For instance, in Chrome, if you keep hitting Ctrl+W you'll eventually close the last tab, which will also close Chrome. I'd like the same functionality with Word (and the other Office products) where I can just keep closing documents until I close the last one, at which point the application closes. Unfortunately, Ctrl+W doesn't close Word, even when there are no documents open.

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  • Oracle Financial Analytics for SAP Certified with Oracle Data Integrator EE

    - by denis.gray
    Two days ago Oracle announced the release of Oracle Financial Analytics for SAP.  With the amount of press this has garnered in the past two days, there's a key detail that can't be missed.  This release is certified with Oracle Data Integrator EE - now making the combination of Data Integration and Business Intelligence a force to contend with.  Within the Oracle Press Release there were two important bullets: ·         Oracle Financial Analytics for SAP includes a pre-packaged ABAP code compliant adapter and is certified with Oracle Data Integrator Enterprise Edition to integrate SAP Financial Accounting data directly with the analytic application.  ·         Helping to integrate SAP financial data and disparate third-party data sources is Oracle Data Integrator Enterprise Edition which delivers fast, efficient loading and transformation of timely data into a data warehouse environment through its high-performance Extract Load and Transform (E-LT) technology. This is very exciting news, demonstrating Oracle's overall commitment to Oracle Data Integrator EE.   This is a great way to start off the new year and we look forward to building on this momentum throughout 2011.   The following links contain additional information and media responses about the Oracle Financial Analytics for SAP release. IDG News Service (Also appeared in PC World, Computer World, CIO: "Oracle is moving further into rival SAP's turf with Oracle Financial Analytics for SAP, a new BI (business intelligence) application that can crunch ERP (enterprise resource planning) system financial data for insights." Information Week: "Oracle talks a good game about the appeal of an optimized, all-Oracle stack. But the company also recognizes that we live in a predominantly heterogeneous IT world" CRN: "While some businesses with SAP Financial Accounting already use Oracle BI, those integrations had to be custom developed. The new offering provides pre-built integration capabilities." ECRM Guide:  "Among other features, Oracle Financial Analytics for SAP helps front-line managers improve financial performance and decision-making with what the company says is comprehensive, timely and role-based information on their departments' expenses and revenue contributions."   SAP Getting Started Guide for ODI on OTN: http://www.oracle.com/technetwork/middleware/data-integrator/learnmore/index.html For more information on the ODI and its SAP connectivity please review the Oracle® Fusion Middleware Application Adapters Guide for Oracle Data Integrator11g Release 1 (11.1.1)

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  • Create a Smoother Period Close

    - by Get Proactive Customer Adoption Team
    Untitled Document Do You Use Oracle E-Business Suite Products Involved in Accounting Period Closes? We understand that closing the periods in your system at the end of an accounting period enables your company to make the right business decisions. We also know this requires prior preparation, good procedures, and quality data. To help you meet that need, Oracle E-Business Suite’s proactive support team developed the Period Close Advisor to help your organization conduct a smooth period close for its Oracle E-Business Suite 12 products. The Period Close Advisor is composed of logical steps you can follow, aligned by the business requirement flow. It will help with an orderly close of the product sub-ledgers before posting to the General Ledger. It combines recommendations and industry best practices with tips from subject matter experts for troubleshooting. You will find patches needed and references to assist you during each phase. Get to know the E-Business Suite Period Close Advisor The Period Close Advisor does more than help the users of Oracle E-Business Suite products close their period. You can use it before and throughout the period to stay on track. Proactively it assists you as you set up your company’s period close process. During the period, it helps evaluate your system’s readiness for initiating the period close procedures and prepare the system for a smooth period close experience. The Period Close Advisor gets you to answers when you have questions and gives you the latest news from us on Oracle E-Business Suite’s period close. The Period Close Advisor is the right place to start. How to Use the E-Business Suite Period Close The Period Close Advisor graphically guides you through your period close. The tabs show you the products (also called applications or sub-ledgers) covered, and the product order required for the processing to handle any dependencies between the products. Users of all the products it covers can benefit from the information it contains. Structure of the Period Close Advisor Clicking on a tab gives you the details for that particular step in the process. This includes an overview, showing how the products fit into the overall period close process, and step-by-step information on each phase needed to complete the period close for the tab. You will also find multimedia training and related resources you can access if you need more information. Once you click on any of the phases, you see guidance for that phase. This can include: Tips from the subject-matter experts—here are examples from a Cash Management specialist: “For organizations with high transaction volumes bank statements should be loaded and reconciled on a daily basis.” “The automatic reconciliation process can be set up to create miscellaneous transactions automatically.” References to useful Knowledge Base documents: Information Centers for the products and features FAQs on functionality Known Issues and patches with both the errors and their solutions How-to documents that explain in detail how to use a feature or complete a process White papers that give overview of a feature, list setup required to use the feature, etc. Links to diagnosticsthat help debug issues you may find in a process Additional information and alerts about a process or reports that can help you prevent issues from surfacing This excerpt from the “Process Transaction” phase for the Receivables product lists documents you’ll find helpful. How to Get Started with the Period Close Advisor The Period Close Advisor is a great resource that can be used both as a proactive tool (while setting up your period end procedures) and as the first document to refer to when you encounter an issue during the period close procedures! As mentioned earlier, the order of the product tabs in the Period Close Advisor gives you the recommended order of closing. The first thing to do is to ensure that you are following the prescribed order for closing the period, if you are using more than one sub-ledger. Next, review the information shared in the Evaluate and Prepare and Process Transactions phases. Make sure that you are following the recommended best practices; you have applied the recommended patches, etc. The Reconcile phase gives you the recommended steps to follow for reconciling a sub-ledger with the General Ledger. Ensure that your reconciliation procedure aligns with those steps. At any stage during the period close processing, if you encounter an issue, you can revisit the Period Close Advisor. Choose the product you have an issue with and then select the phase you are in. You will be able to review information that can help you find a solution to the issue you are facing. Stay Informed Oracle updates the Period Close Advisor as we learn of new issues and information. Bookmark the Oracle E-Business Suite Period Close Advisor [ID 335.1] and keep coming back to it for the latest information on period close

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  • 2013 U.S. GAAP Financial Reporting Taxonomy Available for Public Review and Comment

    - by Theresa Hickman
    FASB recently released the proposed 2013 U.S. GAAP Reporting Taxonomy. Comments are due October 29, 2012 to be finalized and published early 2013.  The proposed 2013 U.S. GAAP taxonomy and instructions on how to submit comments are available at the FASB’s XBRL page. In previous blog entries, I talked about how Oracle Hyperion Disclosure Management supports the latest taxonomy, enabling financial managers to easily comply with the latest filing requirements. The taxonomy is a list of computer-readable tags in XBRL that allows companies to annotate the voluminous financial data that is included in typical long-form financial statements and related footnote disclosures. The tags allow computers to automatically search for, assemble, and process data so it can be readily accessed and analyzed by investors, analysts, journalists, and regulators. You do not have to have Oracle Hyperion Financial Management, used for consolidating financial results, to generate XBRL. You just need Oracle Hyperion Disclosure Management to generate XBRL instance documents from financial applications, such as Oracle E-Business Suite, Oracle PeopleSoft, Oracle JD Edwards EnterpriseOne, and Oracle Fusion General Ledger. To generate XBRL tags and complete SEC filings using your existing financial applications with Oracle Hyperion Disclosure Management, here are the steps: Download the XBRL taxonomy from the SEC or XBRL Website into Hyperion Disclosure Management to create a company taxonomy. Publish financial statements from the general ledger to Microsoft Excel or Microsoft Word. Create the SEC filing in the Microsoft programs and perform the XBRL tag mapping in Oracle Hyperion Disclosure Management. Ensure that the SEC filing meets XBRL and SEC EDGAR Filer Manual validation requirements. Validate and submit the company taxonomy and XBRL instance document to the SEC. Get more details about Oracle Hyperion Disclosure Management.

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  • BPM in Financial Services Industry

    - by Sanjeev Sharma
    The following series of blog posts discuss common BPM use-cases in the Financial Services industry: Financial institutions view compliance as a regulatory burden that incurs a high initial capital outlay and recurring costs. By its very nature regulation takes a prescriptive, common-for-all, approach to managing financial and non-financial risk. Needless to say, no longer does mere compliance with regulation will lead to sustainable differentiation. For details, check out the 2 part series on managing operational risk of financial services process (part 1 / part 2). Payments processing is a central activity for financial institutions, especially retail banks, and intermediaries that provided clearing and settlement services. Visibility of payments processing is essentially about the ability to track payments and handle payments exceptions as payments flow from initiation to settlement. For details, check out the 2 part series on improving visibility of payments processing (part 1 / part 2).

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  • Choosing the Right Financial Consolidation and Reporting Solution

    Financial reporting requirements for publicly-held companies are changing and getting more complex. With the upcoming convergence of US GAAP and IFRS, demand for more detailed non-financial disclosures, and the SEC mandate for XBRL financial executives are under pressure to ensure they have the right systems in place to support current and future reporting requirements. Tune into this conversation with Rich Clayton, VP of Enterprise Performance Management and BI products for Oracle, and Annette Melatti, Senior Director of Product Marketing for Financial Applications to learn about the latest market requirements, what capabilities are provided by Oracle's General Ledgers, and how customers can extend their investment in Oracle General Ledger solutions with Oracle's market-leading financial close and reporting products.

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  • Choosing the Right Financial Consolidation and Reporting Solution

    Financial reporting requirements for publicly-held companies are changing and getting more complex. With the upcoming convergence of US GAAP and IFRS, demand for more detailed non-financial disclosures, and the SEC mandate for XBRL financial executives are under pressure to ensure they have the right systems in place to support current and future reporting requirements. Tune into this conversation with Rich Clayton, VP of Enterprise Performance Management and BI products for Oracle, and Annette Melatti, Senior Director of Product Marketing for Financial Applications to learn about the latest market requirements, what capabilities are provided by Oracle's General Ledgers, and how customers can extend their investment in Oracle General Ledger solutions with Oracle's market-leading financial close and reporting products.

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  • The Challenges of Corporate Financial Reporting

    - by Di Seghposs
    Many finance professionals face serious challenges in managing and reporting their company’s financial data, despite recent investments in financial reporting systems. Oracle and Accenture launched this research report to help finance professionals better understand the state of corporate financial reporting today, and why recent investments may have fallen short. The study reveals a key central issue: Organizations have been taking a piecemeal—rather than holistic—approach to investing. Without a vision and strategy that addresses process improvement, data integrity, and user adoption software, investments alone will not meet the needs or expectations of most organizations. The research found that the majority of finance teams in 12 countries—including the U.K., USA, France, Germany, Russia, and Spain—have made substantial investments in corporate financial management processes and systems over the last three years. However, many of these solutions, which were expected to improve close, reporting, and filing processes, are ineffective, resulting in a lack of visibility, quality, and confidence in financial data. Download the full report. 

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  • SQL query to retrieve financial year data grouped by the year

    - by mlevit
    Hi, I have a database with lets assume two columns (service_date & invoice_amount). I would like to create an SQL query that would retrieve and group the data for each financial year (July to June). I have two years of data so that is two financial years (i.e. 2 results). I know I can do this manually by creating an SQL query to group by month then run the data through PHP to create the financial year data but I'd rather have an SQL query. All ideas welcome. Thanks

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  • Linux: close a program with command line (not kill it)

    - by CodeNoob
    Some applications only allow one running instance (like eclipse, if you want to use the same workspace). So if I log in from another location, I have to kill/close the application that was open when I previously logged in from another location. I always use kill command to kill the running process. But, if you kill a process, it might not save some states that are useful for future usage. However, if you "close" it properly byclicking on the close button, for example, it will save the states properly. Is there a way to properly "close" an application from command line? I know this can vary from applications, so let's be a bit more generic: how to send a signal to another running application, and this signal works just as if we click the "close" button in the top bar? thanks!

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  • Personal Financial Management – The need for resuscitation

    - by Salil Ravindran
    Until a year or so ago, PFM (Personal Financial Management) was the blue eyed boy of every channel banking head. In an age when bank account portability is still fiction, PFM was expected to incentivise customers to switch banks. It still is, in some emerging economies, but if the state of PFM in matured markets is anything to go by, it is in a state of coma and badly requires resuscitation. Studies conducted around the year show an alarming decline and stagnation in PFM usage in mature markets. A Sept 2012 report by Aite Group – Strategies for PFM Success shows that 72% of users hadn’t used PFM and worse, 58% of them were not kicked about using it. Of the rest who had used it, only half did on a bank site. While there are multiple reasons for this lack of adoption, some are glaringly obvious. While pretty graphs and pie charts are important to provide a visual representation of my income and expense, it is simply not enough to encourage me to return. Static representation of data without any insightful analysis does not help me. Budgeting and Cash Flow is important but when I have an operative account, a couple of savings accounts, a mortgage loan and a couple of credit cards help me with what my affordability is in specific contexts rather than telling me I just busted my budget. Help me with relative importance of each budget category so that I know it is fine to go over budget on books for my daughter as against going over budget on eating out. Budget over runs and spend analysis are post facto and I am informed of my sins only when I return to online banking. That too, only if I decide to come to the PFM area. Fundamentally, PFM should be a part of my banking engagement rather than an analysis tool. It should be contextual so that I can make insight based decisions. So what can be done to resuscitate PFM? Amalgamation with banking activities – In most cases, PFM tools are integrated into online banking pages and they are like chapter 37 of a long story. PFM needs to be a way of banking rather than a tool. Available balances should shift to Spendable Balances. Budget and goal related insights should be integrated with transaction sessions to drive pre-event financial decisions. Personal Financial Guidance - Banks need to think ground level and see if their PFM offering is really helping customers achieve self actualisation. Banks need to recognise that most customers out there are non-proficient about making the best value of their money. Customers return when they know that they are being guided rather than being just informed on their finance. Integrating contextual financial offers and financial planning into PFM is one way ahead. Yet another way is to help customers tag unwanted spending thereby encouraging sound savings habits. Mobile PFM – Most banks have left all those numbers on online banking. With access mostly having moved to devices and the success of apps, moving PFM on to devices will give it a much needed shot in the arm. This is not only about presenting the same wine in a new bottle but also about leveraging the power of the device in pushing real time notifications to make pre-purchase decisions. The pursuit should be to analyse spend, budgets and financial goals real time and push them pre-event on to the device. So next time, I should know that I have over run my eating out budget before walking into that burger joint and not after. Increase participation and collaboration – Peer group experiences and comments are valued above those offered by the bank. Integrating social media into PFM engagement will let customers share and solicit their financial management experiences with their peer group. Peer comparisons help benchmark one’s savings and spending habits with those of the peer group and increases stickiness. While mature markets have gone through this learning in some way over the last one year, banks in maturing digital banking economies increasingly seem to be falling into this trap. Best practices lie in profiling and segmenting customers, being where they are and contextually guiding them to identify and achieve their financial goals. Banks could look at the likes of Simple and Movenbank to draw inpiration from.

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