Financial Environment
To access components of the financial environment:
In the navigation bar, click Environment > Financial.Accounts
This tree displays controls associated to each account.
These accounts are to be monitored withing the framework of SOX compliance.Characteristics of an account
Account characteristics are as follows:
• Account type
The profits and losses account presents a description of profits and losses of the enterprise during the fiscal period. You can specify if the account is:
• "Profits"
• "Losses"
• Total Value: you can enter a total for this account.
An order of magnitude is sufficient.• Status
• "Open": the account is active
• "Closed": the account is inactive
• Sub-accounts: the account may consist of sub-accounts.
• Entities and Processes: you may connect the account to entities and processes.
• Incident Financial Elements:
• Loss
• Gain
• Recovery
• Provision
Connecting controls to an account
To connect controls to an account:
1. In the account properties, select the Controls page.
2. Connect one or more controls.
Products
This tree displays open issues related to the product.
A product represents commodities offered for sale, either goods or merchandise produced as the result of manufacturing, or a service, i.e., work done by one person or group that benefits another.To create or connect incidents to a product:
1. Open the product properties and select the Incidents page.
2. Create or connect incidents.
You can view, for each incident:
• its status
• its declaration date
• the declarant's entity
• associated losses
Gross Incomes
Gross revenues are entered by the Incident and Loss Manager for each business line and are used within the framework of the BIA approach (Basel II).
For more details, see Basic Indicator Approach (BIA).To create a gross income:
1. Click Environment > Financial > Gross Incomes.
2. Click New.
3. Enter the following properties:
• Business line
• Begin Date and End Date
• Revenue Amount