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Enabling Ownership Management in Oracle Financial Consolidation and Close Cloud


Welcome to this step-by-step tutorial on Enabling Ownership Management in Oracle Financial Consolidation and Close Cloud. When you create an application, you can enable the Ownership Management feature. This allows you to assign ownership percentages and consolidation methods to each entity hierarchy on a scenario-by-scenario, year-by-year, and period-by-period basis. You can also enable the feature for your existing application. This video shows how to enable the feature in both cases. Lets start by creating a new application. The Ownership Management option for a new application is available only if you have selected the Intercompany Data with Tracking option. When you enable Intercompany Data with Tracking, the system creates an Intercompany Dimension, as well the members FCCS_Elimination in the Consolidation dimension and FCCS_Intercompany Eliminations in the Data Source Dimension If you didn’t enable the Ownership Management feature when you created the application, you can enable it afterwards, as long as you enabled intercompany data during initial application creation. Otherwise, you must re-create the application in order to enable Ownership Management. Before you enable Ownership Management in an existing application, you should perform the following steps: Review the new seeded members that will be created. If you have already defined members that serve the same purpose, you must delete them to avoid a conflict with the new seeded members. Review the aliases for your existing Account and Movement dimension members to be sure they do not conflict with the aliases for the new members. If there is a conflict with aliases, modify the Alias prior to enabling the feature. Otherwise, errors will occur during migration or when refreshing the database. There should not be a conflict with the names for the new members, as the new seeded members have a prefix of FCCS_. If you modify an Alias, you should also modify any artifacts that reference it. Either remove duplicate members from the referenced artifacts, or update the artifacts to reference the proper member. Let’s see how to enable Ownership Management for an existing application. I’ll navigate to the Application Configuration screen and select Enable Features. If not already selected, I’ll select Track Intercompany Eliminations. Once I select this option, the Ownership Management feature becomes selectable. Enabling Ownership management restructures the database for your application. As a precaution, you should backup your application before enabling ownership management. Note that, depending on the size of your application, the restructuring process could take some time. After enabling features, you need to sign out and, sign back in in order to see the new features. Now that I’ve enabled Ownership Management, the Manage Ownership page is available when I select Consolidation from the available Applications cluster. All non-admin users are locked out of the system during feature enablement. After feature enablement is complete, you must modify the Application Maintenance Mode setting to allow login for non-admin users. To enable non-admin users to log in to the application, I’ll select Application Settings from the Navigator, and then select All Users in the Application Maintenance Mode section. After enabling Ownership Management, you’ll notice metadata changes in several dimensions. In the Account Dimension, accounts were added to support consolidation rules. The updated Total Assets hiearchy is shown here with the new accounts highlighted in red. New accounts were added to the Total Equity hierarchy as well. Also in the Account dimension, new members were added to the FCCS_Drivers hierarchy. Changes were also made to the Consolidation dimension. The “FCCS_Proportion” member is no longer the parent member for “FCCS_Entity Total”. Instead, its a sibling of “FCCS_Entity Total”, and its data storage property is changed from Dynamic Calc to Store. A new member named FCCS_Entity Elimination Adjustments is added as a child of FCCS_Entity Total. The Data Storage change from Dynamic Calc to Store for the FCCS Proportion member requires that you re-consolidate all existing data within the application, in order to calculate the Proportion member and store it in the Consolidation dimension. The Calculation status is changed to Impacted for all entities. The Data Source dimension is also updated. If tracking intercompany data was not previously enabled for the application, a member named FCCS_Intercompany Elimination is created. A hierarchy named FCCS_Source Entities is created for use in Ownership Management. Lastly, in the Movement dimension, members for acquisitions and disposals are added to the Investing hierarchy. In this tutorial, you saw to how to Enable Ownership Management in Oracle Financial Consolidation and Close Cloud. To learn more, visit cloud.oracle.com.

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