6 Şubat 2012 Pazartesi
Microsoft Dynamics NAV Compliance
Enhance accounting processes and controls to aid compliance
Growing companies face increasing ﬁnancial accounting challenges each year. Depending on industry, markets, geographic location, and ﬁnancing needs, an organization may be subject to local generally accepted accounting principles (GAAP) and one or more of:
• The Sarbanes-Oxley Act (SOX), a U.S. law passed in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.
• The International Financial Reporting Standards section of the European Union’s International Accounting Standards (IAS/IFRS), which went into effect in 2005 and sets forth international accounting standards for recognition, measurement, consolidation, and reporting.
• The New Basel Accord (Basel II), enacted in 2006 to address issues of ﬁnancial institution risk and to promote greater stability in the overall ﬁnancial system.
Enhance good practices with technology
Compliance depends not only on accurate information and appropriate accounting processes, but also on the people who set up and administer those processes. An effective business management solution can facilitate compliance by helping to manage valid and accessible information through transparent processes that have been set up in compliance with industry and regulatory standards.
Realize the beneﬁts of an integrated business management solution
Microsoft Dynamics NAV delivers real-time, integrated operational and ﬁnancial information from across your organization, so you can:
• Track ﬁnancial data through custom account schedules for cash ﬂow, revenues, balance sheets, ﬁxed assets, capital structure, key performance indicators, and more.
• Help safeguard accuracy with role-based security and conﬁgurable application controls that prevent invalid or duplicate data entry.
• Quickly and easily generate ﬁnancial reports in accordance with applicable regulatory standards.
• Maintain comprehensive audit trails with drill-down and drill-around functionality and change logs.
Manage compliance to the standards that matter
Deliver integrated information, aligned processes, and easy-to-use tools to help your people meet the ﬁnancial management expectations and standards that matter to your speciﬁc business.
Tailor account schedules to your needs
• Deﬁne the structure of your company’s chart of accounts based on business requirements and applicable regulatory standards.
• Create accounts and handle complex processes related to a spectrum of business activities, including inventory valuation, foreign currencies, segment reporting, and departures from local GAAPs.
• Control the level of detail for each recorded transaction and select detailed registration for speciﬁc types of transactions, such as ﬁxed assets and accounts payable.
• Tailor schedule calculations and display for ﬁnancial reporting, or export the information to Microsoft® Ofﬁce Excel® for further analysis.
Improve information validity
• Conﬁgure data ﬁelds to accept only information in the correct format, such as the correct number of decimal places or alphanumeric patterns.
• Help ensure information is complete with application controls such as requiring a vendor invoice number to be entered before a purchase order can be posted.
• Reduce the risk of inaccurate information or tampering and help protect sensitive information with access to information based on job role.
• Prohibit access, provide read-only access, or enable full-access users to add, edit, or delete information.
• Easily identify and resolve discrepancies with a reconciliation feature that retrieves current bank account and transaction information and compares it to general ledger posts.
• Schedule manual or automatic backups to help protect information from electronic failures.
Sarbanes-Oxley: Validating Data and Processes The Sarbanes-Oxley Act establishes standards for all U.S. public company boards, management, and public accounting ﬁrms, including evaluation and disclosure of the adequacy of the company’s internal controls over ﬁnancial reporting. Documenting and testing critical manual and automated controls represents a huge commitment of time and resources for companies. Microsoft Dynamics NAV is especially suited for subsidiaries of larger organizations, and can help support small to mid- sized businesses in complying with Sarbanes-Oxley.
Comply quickly with discovery requests and reporting demands
• Save time when you create standard reports that use common business parameters and criteria to satisfy typical reporting needs, ranging from order summaries to aging accounts receivable.
• Perform complex reviews with basic or advanced business analytics functionality.
• Create reports and displays using an interface similar to that of the familiar Microsoft Ofﬁce Outlook®.
• Speed transmission of ﬁnancial information to customers, shareholders, regulatory agencies, and the public with XML-based XBRL documents that support the exchange of ﬁnancial information across different software and technologies, including the Internet.
Help ensure clear audit trails
• Trace documents and information both forward and backward through the system, from the original source to ﬁnal ﬁnancial statements and back.
• Identify how, when, and by whom information was entered or edited, and to what account ﬁnancial entries have been posted.
• Look up database changes, including previous and revised data, in the solution’s Change Log.
• Increase audit trail transparency and usability, and speed information access for third-party auditors with drill-down, look-up, ﬁltering, register, and navigation
IAS/IFRS: Recognition and Measurement Standards
Depending on the local GAAPs currently in use, one of the major recognition and measurement changes for IAS/IFRS is extended use of fair-value principles instead of historical cost. Microsoft Dynamics NAV can help companies calculate fair-value and net present value (NPV) concepts, which are focused on current and expected cash ﬂow streams rather than historical purchase price. On the reporting side, it can provide segment reporting by business unit and geographical location.
Basel II: Implications for Reporting and Analysis Basel II, developed by the Bank for International Settlements, helps ensure safety and security in the ﬁnancial system in three key areas: minimum capital requirements, supervisory review process, and market discipline. Although the accord applies to ﬁnancial institutions and does not target small and mid-sized businesses, Basel II may have some implications for these organizations in reporting and analysis.
“The ability to customize reports has been tremendous. That’s what most impresses us about Microsoft Dynamics NAV: the ability to customize reports in compliance with federal reporting requirements.” —James Pratt, Controller, Muscogee Creek Nation