With CP Finance there are some predefined IFRS and local GAAP chart of account structures. These predefined structures are customizable and ensure a rapid implementation. The users can also create their own accounting structures.
More than one chart of account classification structure can be defined within CP Finance. This ensures that for multiple company planning each company can have a common or bespoke chart of accounts structure. This can be particularly useful with multiple company plans that need to be consolidated onto a group structure.
CP Finance can report companies in flexible group structures. Companies can be reported in any number of groups or sub groups. Generating different views is vital when looking at the simulation of purchase / sale of companies within a group.
Integrated financial planning logic blocks
CP Finance has inbuilt financial planning logic blocks which enable rapid set up and connection of the business plan to the balance sheet and cash flow. The connections are made through simple dialogue boxes. The logic blocks can link directly to detailed operational Corporate Planner databases or be planned directly within CP Finance, payment and prepayment terms, can be set.
The ability of users to create models is important as like all CP-Suite products there are no programming skills / specialist IT knowledge required to use / maintain the planning models. Some competitor products have to be run by IT departments. Corporate Planning AG’s ethos is that the finance, controlling and planning teams can create reports and maintain models and these should not be IT projects. The end users have a better understanding of the business planning processes and need to respond rapidly to changes in the business.
CP Finance has an inbuilt multiple currency functionality. As part of a company setup the base currency is defined. The exchange rate table allows for planning the currency conversion rates. A logic block as part of the balance sheet enables the currency difference to be automatically calculated. A company can be reported in any currency with a exchange rate matrix set up. This enables simple consolidation data across groups of companies in any currency.
Why Forward-Thinking is More Important Than Ever in the Current Economic Crisis
The Importance Of Financial Planning In An Uncertain Economy
