Description

Introduction
Oracle Hyperion Financial Close Management (FCM) is designed to help organizations manage and streamline the financial close process. It provides visibility into the close lifecycle, ensuring accuracy, compliance, and timely reporting. This course offers participants the knowledge and tools needed to optimize the financial close process using Hyperion FCM.

Prerequisites

• Basic understanding of financial consolidation and close processes
• Familiarity with accounting and financial reporting concepts
• Experience with Oracle applications is recommended but not required

Table of Contents

1. Overview of Oracle Hyperion Financial Close Management
   1.1 Purpose and Benefits of FCM
   1.2 Key Features of Financial Close Management
   1.3 Aligning FCM with Financial Compliance Requirements
2. Setting Up Hyperion Financial Close Management
   2.1 Configuring the Financial Close Calendar
   2.2 Defining Roles, Permissions, and User Access
   2.3 Integrating FCM with ERP and Reporting Systems
3. Managing the Financial Close Lifecycle
   3.1 Overview of Close Cycle Phases
   3.2 Automating Tasks and Approvals
   3.3 Monitoring Progress with Dashboards
4. Task Management and Workflow Optimization
   4.1 Assigning and Tracking Close Tasks
   4.2 Setting Up Dependencies and Alerts
   4.3 Managing Task Ownership and Escalations
5. Reconciliation Management
   5.1 Automating Account Reconciliations
   5.2 Ensuring Data Accuracy with Validation Rules
   5.3 Addressing Reconciliation Discrepancies
6. Intercompany Reconciliation and Close Automation
   6.1 Managing Intercompany Transactions
   6.2 Automating Intercompany Elimination Processes
   6.3 Ensuring Consistency Across Entities
7. Ensuring Compliance and Audit Readiness
   7.1 Implementing Controls and Audit Trails
   7.2 Preparing for Internal and External Audits
   7.3 Ensuring Compliance with Financial Regulations
8. Performance Monitoring and Reporting
   8.1 Tracking Key Performance Indicators (KPIs) for Close Processes
   8.2 Generating Close Reports and Analytics
   8.3 Identifying and Resolving Bottlenecks
9. Optimizing Financial Close Processes
   9.1 Best Practices for Accelerating Close Cycles
   9.2 Leveraging Automation for Continuous Improvement
   9.3 Ensuring Collaboration Across Departments
10. Future Trends in Financial Close Management
    10.1 Cloud Migration for Financial Close Solutions
    10.2 Integrating AI for Process Automation
    10.3 Preparing for Regulatory and Industry Changes

Conclusion
Oracle Hyperion Financial Close Management provides a structured and efficient approach to managing the close process, ensuring compliance and timely reporting. This course equips participants with essential skills to automate tasks, monitor progress, and optimize workflows. Mastering FCM helps organizations achieve faster and more accurate financial closes, improving overall financial performance and governance.

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Reference