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Approach for Financial Statement generation from Oracle ERP

I had a detailed discussion on the above subject with the KPMG team leaders. It included KPMG Consultants. The road-map for generating the Financial Statements from Oracle ERP will be as following :

1. Finalizing the COA values -> This is the activity that needs to be completed by SONATA KEY USERS from Finance & Costing department. KPMG team under the supervision of KPMG has already conducted two sessions with Finance and presented the broad guidelines for completing the COA values. When needed, our team will be always available for another two sessions where further details and guidelines can be discussed. But it is very critical to complete this exercise as soon as possible because the entire Financial Statement generation depends upon the Finalized COA values.

2. Balance Sheet, P&L Statement & Trial Balance -> KPMG team has already completed these reports. After the finalization of COA values, we can demonstrate these reports to the key users for their acceptance

3. Cash Flow Statement -> Some more discussion is required for the KPMG team to understand & complete this report. But it will be taken up upon the completion of COA values

4. Schedules-> There are 16 schedules and our team has understood 5 of them. After the finalization of COA values, we will discuss the remaining 11 schedules and understand their mappings. Since all the schedules are not immediately required after go-live ( it will be required not before 31-Dec-2014, assuming that we are going live in Jan-2014), we will plan for their delivery during the Post GO-LIVE support period.
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