173 财务管理最佳实践之项目会计(英文,普华永道)

Best Practice Financial Processes: Project Accounting

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Project Accounting - Best Practices ObjectivesPeople Organisation

Bridge between financial management & project management

Project Accounting Objectives

Empower project managers To control information and take corrective action

Processes

Establish project structure and type Create new project Allocate budget Track actual costs and time Review projects progress Bill or capitalise costs Close project

to record and maintain costs and time at a project and task level to maintain project assets & Work In Progress to bill / charge for jobs carried out to assist in planning, scheduling and controlling projects to measure ongoing profitability and technical effectiveness of projects and enable corrective action to be taken

Information Systems

On-line timesheet input Eliminate rekeying of data Integrated systems

Controls

Measures

Monthly reporting Reconciliation to other modules Physical progress Invoices being paid

Key performance indicators Profitability of project Variance analysis (cost, time & materials) Achievement of technical objectives

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Project Accounting - Best practice featuresEstablish project Allocate budgetsAllocate costs & time Review project progress vs costs & budget Bill or charge for project

Best Practice Features

A logically defined project & task numbering system is used with a project / job number that allows pision and reporting by logical elements or segments A facility to predefine a list of project types Establish who owns, who controls and who monitors the project

Budget established in financial and quantitative terms as an option Budgets by inpidual property and group of projects

Direct costs allocated per timesheet entry Indirect costs per timesheet/ algorithms Collect costs in line with project milestones / phases Various ways of collecting costs; full cost, marginal, direct costs, direct costs and uplift, etc,

Actuals and commitments (ie PO) raised against project budget Monitor against defined milestones

Project costs can be allocated to departments or billed to customers at appropriate times Charge against agreed milestones

Reforecasting / multiple budget facility Multi currency budgeting

Confirm physical progress of project

Information from past projects available to assist with estimate of future project costs

Amend budgets for known costs overruns / savings

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Project Accounting - Best practice featuresEstablish project Allocate budgetsAllocate costs & time Review project progress vs costs & budget Bill or charge for project

System Features

System records all necessary project data Any level of project task hierarchy is permitted

System allows budgeting at the lowest or highest task level Budgeting can be on a

cost time, material or revenue basis Standard as well as value budgets Marginal or full costing basis Notes facility to support documentation of all budget assumptions

Integrated to financial & HR systems to aid input Time costed at multiple rates Automatic interface with inventory / accounts payable

Software supports standard & ad hoc reporting and variance analysis Software supports on-line enquiry by project management

Integrated with billing system or internal charging system Integration with fixed asset system for capital project capitalisation Multi currency billing Integration with GL for cost recharging / allocation Interim / final invoice to move costs from Work in Progress

Multi currency costs Marginal or full costing basis

Real-time check against projects budget when raising PO's Drill down to source features available

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Project Accounting - Critical Success FactorsThese are the a summary of the key business requirements which must be met to achieve Project Accounting objectives:

Project team led, finance supported. Participative approach to financial project management leading to real buy-in;

Comprehensive communication and training to maximise benefits of better informationStandard formats and means of data collection / consolidation in place with manageable level of detail; Timetable in place with deadlines for inputting costs and timesheets agreed; Guidelines clearly defined and communicated;

Effective communication and feedback mechanisms in place between central group(s) and project / job managers;Approval levels and responsibilities clearly defined; Effective use of management time during the review process; Integrated systems in place with software to support on line reporting and analysis by operating management; Strong analytical support to decision making, by both finance departments and project teams; Efficient use of IT, to ensure project managers receive timely and accurate information.

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Project Accounting - Issues and Trends

Issues

Trends

Link with work The trend is towards integrated systems / bespoke solutions tailored to meet management / sector specific needs resource scheduling Link with project management tool for financial and project reporting Projects often will across financial / fiscal years, this can make year end accounting complicated Propriety project management tools (eg PMW, MS Project) have only high level financial reporting, job and project costing modules have no progress reporting or planning functions - no good solution currently available. The trend is to integration and data warehousing Independent "closing" or cleardown of project details from fiscal year close in main financial ledgers

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Project Accounting - Projects Classifications

Projects can be broadly defined as: Capital Billing

projects such

as network building;

projects which are customer facing projects and result in the

customer being invoiced during the life of the project or at thecompletion of the project.

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Project Accounting - Level 0Receivables

Context DiagramGeneral ledger Budgeting & planning

Work management scheduling

Payables

Contract detailsCustomers

Invoices & project details

Project Accounting Accounting

Project

Purchasing

Time recording system

Human Resource

Fixed Assets

External suppliers (eg sub-contractors)

Inventory

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Project Accounting - Level 1

Overview

Budgeting procedures Authorisation procedure Technical Policy / requirements Project Accounting Policy

Authorisation rules Reporting rules Technical standards PA procedures / templates

Financial procedures PA procedures Management feedback Technical Feed back

Communication and reporting guidelines PA procedures Management feedback Technical Feed back

Status guidelines Notification procedures FA procedures Review procedures Consolidate procedure Reporting guidelines Review Procedures Reporting & authorisation procedures Budgeting procedures Clarify procedures Archiving procedures

Reports Standin g data Reque st PA structure Authorised project Progress reports Capitalised costs Achieve informatio n Closed project Customer invoices

Maintain standing dataPA1.1

Project authorisatio n documentati on

Set up projectPA1.2 Time and costs

Monitor projectPA1.3

Analyse and revise projectPA1.4

Close projectUpdated project details and costs PA1.5

Management Accountant Technical support Budget holder Project owmer

Management accountant Project managers Financial accountant Budget holder

Management accountant Technical Staff Project Managers AP system PO system Time recording system

Technical staff/operations Project Managers Financial accountant

Management accountant Project managers/owner Directors Budget Holder Billing system FA accountant/system Asset management system

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Project Accounting - Appendix 1 : IDEF Process FlowThe diagram below provides a key to the process diagrams used in this document.

Controls (i.e. Procedures Standards Requirements for rework) Input (i.e. Information Material) Process / activity Output (i.e. Information Material)

Resources (i.e. People Functions IT systems Machines)

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