Tasks to be completed when documenting an operation (from creation to publication)

 1. Enter the Title of the operation / page

2. Add the following Labels : 

    • Scope of applicability: ww, country_accounting 

    • Country or group of countries (if applicable): belux, china, france, italy, lam, nam, uk_ie, bulgaria, dach, netherlands, iberia, poland, latvia, australia, india, japan, south_korea, thailand, singapore, new_zealand, emea_transversal, apac_transversal

    • Unit and Domain according to the List of labels to be used in the Finance Service Line space

      • E.g. 1: WW Operation in Financial Accounting under domain "Central Finance Processes & Compliance":
        • Labels to be used: ww, financial_accounting, central_fin_proc_compliance

      • E.g. 2: France Operation in Financial Accounting:
        • Labels to be used: country_accounting, france, financial_accounting
          (for country operations, the Domain is always country_accounting)


3. Fill in all fields as described above

4. Name the title of each section using OPD methodology naming convention - Infinitive verb without the “to”, mainly action verb...something) - " I do something..."

5. Once the description of the operation is completed, ensure it is approved and published by launching the SBS-Finance approval workflow 


Domain: Treasury Reporting

Responsibility area: Perform Foreing Exchange results monthly closure.

Table of contents 

By default the table of contents displays Heading 1 & Heading 2 (other levels can be added)


Scope

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ERP

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Frequency

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References

6. Add the link to SAP transaction(s) (when it exists)



Forms

7. Insert the links accordingly and change the link text with the Form name



Attachments

8. Add the link to attachments or external links


 

 

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1. Objective and Scope

1.1. Objective of this Operation

The objective of this report is to ensure that the result of the Cash Flow Hedge process being re-invoiced from Syensqo Treasury department "2232" to its affiliates is eliminated at Group Consolidated level. 

The reason of this control is due to the fact that FX result is not an intercompany reconciled item. Nevertheless as FX result is re-invoiced it generates a P&L impact at company code level that cannot be kept at group level. To allow the monitoring the re-invoicing impacts the P&L on a specific combination of BFC account "R53800" and Market "50 , CBSS and CBCT".


1.2. Scope

Detail the scope (legal entities, etc.)

All Group Consolidated Entities

2. Definitions

Definitions should be added in the Finance Glossary - Add definition and link it to respective Letter in Finance Glossary 

See Finance Glossary:

  • BFC


3. Tasks description

WHAT and HOW - Main content of the operation

The content should be mainly organized in 2 levels of Headings to ensure a proper link with the Table of Contents.

Location of the file:

\\lucapfs01sco.oxo.priv\LUCAP-USERS\Financial Controlling & Cash Accounting process\7 - Financial Controlling\3 - Monthly closing\2 - Treasury and net debt\YYYY\MM.YYYY\FX Result

3.1. I update the file "FX Monitoring MMYYYY" with information regarding Cash Flow Hedge (CFH) reinvoicing in tab "CFH Reinvoicing Total"

Steps to execute:

Update the date by choosing the correct period:


Go to FBL3N variant and choose variant CHF Re-Inv 

Choose all items for the reporting month.


The amounts should be converted to KEur and multiplied by -1 for the affiliates only, since we are in 2232 position.


This information should be fulfilled in tab 



3.2. I retrieve the data from BFC for the reinvoicing of CFH in tab "DIV 50 by Cie" for all the companies of the group

Confirm that the period is correct and remove the filters before the retrieve.


Perform BFC retrieve.

Go to Add-Ins - > Financial Consolidation → Import → In Sheet


3.3. I control that the delta between the BFC retrieve and the CFH reinvoicing by legal entity is not material.

3.3.1. I investigate those legal entities where the check control is not 0.

Go to the tab "DIV 50 by Cie".

Filter the column "L" on value "Re-invoicing Exists=YES"

Column K - Re-invoicing Check in BFC is highlighted in red in case we have significant differences. 

In the example below the re-invoicing of CFH is done in EUR and company's 07180 functional currency is USD, so there is an exchange rate difference.


3.4. I update tab "RESULT BY BU"

Purpose:

All FX results should be allocated to CBS with the following exception:

  • If a GBU decides not to hedge a specific risk, the result belongs to the GBU (to be duly documented and agreed by Corporate Treasury)


The threshold that is triggering a top entry is EUR100K.


Steps to execute:

Confirm that the period is the correct one and remove all the filters.

Then retrieve "in sheet" from BFC.


After BFC retrieve, this sheet allows us to see the impact on R53800 Commercial FX result per division.

Confirm that cell E14 (Control) is equal to zero

 


Allocation CSCS and DIV59 cannot have amounts above 100K, otherwise a top entry will be required.


3.5. I update tab "FX Retrieve"

Steps to execute:

Make sure to clear all the filters. Select the column of the respective month and retrieve data "in cell range" from BFC.


This table will show the amounts reported by company in headings R53800 and R53820.


3.6. I update tab "Analysis By Partner"

After all the previous steps, we are in good conditions to analyze the FX impacts by partner.

Note: For CAMS adherent companies FX should be neutralized since 2232 is hedging FX.


We need to do a top entry to correct FX results, due to we reclass from Commercial FX to Financial FX for certain countries. For this, we use tab .

In the top entry we correct the China results, since company 77281 is hedging for all Chinese entities.


Additionally, for the hedged companies, the FX impacts should be reported in R53820 instead of R53800.

Nowadays, Argentina is the only country still not hedged, so we correct all the other countries from R53800 to R53820. 


The final result is:


End of document.




Domain: Treaury Reporting

Responsibility area: Perform Foreing Exchange results monthly closure.

Table of contents 

By default the table of contents displays Heading 1 & Heading 2 (other levels can be added)



Scope

3. Remove the icon when not applicable

Please remove the icon when not applicable.


ERP

4. Remove the icon(s) when not applicable

Please remove the icon when not applicable.
Frequency

5. Remove the icon(s) when not applicable

Please remove the icon when not applicable.
References

6. Add the link to SAP transaction(s) (when it exists)

FS10N

Variant "TMS_CFH R12900


Forms

7. Insert the links accordingly and change the link text with the Form name



Attachments

8. Add the link to attachments or external links

TMS Quantum.

\\capfs01\LUCAP-USERS\Financial Controlling & Cash Accounting process\7 - Financial Controlling\3 - Monthly closing\2 - Treasury and net debt\2021\12 2021\FX RESULT

 

 

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