Financial Reporting Training
Office of the Controller
Objective
1. Accounting Review
2. What is a Budget and General Budget Concepts
3. Budget Inquiries & Budget Status Report
4. Overview of some useful Queries
5. nVision Financial Reports:
• Define nVision
• Variance Analysis
• Available Budget
6. Demo
Office of the Controller
What is Accounting?
Accounting is a systematic way to identify, measure and communicate
the economic impact of events, such as activities that generate
inflows and outflows.
Accounting is a self-balancing process which measures:
1.
Financial Activity: REVENUES and EXPENSES for a period
Income = Revenues – Expenses
AND
2.
Financial Position: BALANCES on a cumulative basis at a certain date
 Positive balances which will provide future benefits are ASSETS
 Negative balances which represent future obligations are LIABILITIES
Office of the Controller
What is Accounting?
Example of Economic Event:
FIU provides educational services to students.
1.
The University has the right to collect fees from students (Revenues) but
must also pay faculty to render the services (Expenses).
AND
2. The University collects the cash from the student and pays cash to the
professor, resulting in a net positive cash (Asset) balance at the end of the
period
Office of the Controller
Why “fund” accounting
Activities are segregated by funding source
Each fund :
 is Restricted in its uses by statute
 is Allocated a Budget that cannot be overspent
Currently, within each fund, activities are further segregated by
Organizations and Departments that identify which unit/college is
responsible for performing the activity and the specific nature of the
activity (e.g. College of Business puts on the FIU Online Conference).
http://finance.fiu.edu/controller/Docs/FundRulesMatrix.xls
Office of the Controller
Which funds does FIU have?







E&G – Educational and General
AUX – Auxiliary Enterprises
C&G – Contracts and Grants
Agencies
FA /FinAid – Financial Aid/ Scholarships
Student-Related Activities
Concessions
Office of the Controller
Which Entities does FIU have ?
Entities affiliated to the University:

FCN01 — FIU01 AP Construction

FIU01 — Florida International University

FIU02 — FIU Foundation: administers donations for the purpose of the
advancement of FIU. Considered a Non-for-profit entity, not a governmental entity.

FIU03 — Wolfsonian Inc.

FIU04 — FIU Research Foundation

FIU05 — FIU Athletic Finance Corp

FIU06 — FIU Health Care Network

FIU07 — FD Enterprise Holdings I, LLC.

FIU08 — FD Enterprise Holdings II, LLC.

FIU09 — FD Enterprise Holdings III, LLC.

FIU10 — FD Enterprise Holdings IV, LLC.

FSR01 — Office of Sponsored Research

FSR04 — FIU Research Foundation
Office of the Controller
Revenues = Money coming in
Operating Revenues are generated from providing goods or services in
the normal course of operations to customers.
Non-Operating Revenues are for incidental activities, such as investment
earnings.
In fund accounting, revenues are recognized when measurable and
available to spend, the earlier of:
 When collected in cash using cash basis (e.g. conference registration fees collected
now for an event to occur in the future)
OR
 When earned using accrual method (e.g. student registers for classes now but tuition
payment is not due to University until later)
NOTE: Revenues which have not been collected are classified as receivables until
they are collected in cash (e.g. the University has a receivable from a student
until his/her student account is paid to the University).
Office of the Controller
Expenditures = Money being spent
Costs incurred in efforts to generate revenues, classified as:
Expenses if the payment provides immediate benefits (e.g. salaries, travel)
Capital if the payment provides long-term benefits (e.g. tangible assets
with longer lives such as equipment).
NOTE: In accounting, all expenditures for goods and services are
recorded in the fiscal year that they occur using accrual method
At the operating fund level, expenditures are treated as expenses and
those subject to capitalization are accounted for in another fund.
Expenses which have not been paid are classified as payable until they
are paid in cash (e.g. invoices from vendors with certain number of
days to pay).
Office of the Controller
Sources of Revenues and Expenses
Revenues:
Student Financials (tuition, other student fees)
Cashiers (cash/credit card deposits)
Expenses
Payroll (salaries and benefits actual and accruals)
Voucher (operating and capital expenses)
Commodity Card (operating expenses)
Interdepartmental charges with no approval required (phone, printing,
overhead)
Interdepartmental charges with approval required (facilities
maintenance)
In both cases, re-classes of revenues and expenses from one
department to another or from one account to another should be
requested via an Inter-Departmental Transfer Form.
Office of the Controller
Income and Financial Position
Remember the results of accounting?
1. Income measures net operations earned during the period
Income = Revenues –Expenses
2. Fund Balance is the net financial position at the end of the
period. It represents what resources you have left to spend
in the short-term:
Cash + Receivables –Payables = Fund Balance
Beginning Fund Balance
+ Income
+ Cash Coming In
– Cash Going Out
= Ending Fund Balance
Office of the Controller
Example
College creates a new program to begin 7/13/xxxx
Assets
-
+
-
Cash
$
52,000
$
-
Fund Balance
$
$
(2,520)
(3,880)
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Pay back start-up funding
$
(10,000)
$
$
36,840
Balance at 7/1/xxxx
-
=
$
$
$
$
$
$
Payable
Net Assets
Balance at 6/1/xxxx
Start-up funding from another department
26 Students register for classes $2000 each due 7/1
New Program Manager is paid for 2 periods 6/1 - 6/14
Purchase of laptop for new PM
New Program Manager is paid for 2 periods 6/15 - 6/28
Payroll accrues 2 days in June 6/29 - 6/30
Balance at 6/30/xxxx
Student pays for classes
Program Manager is paid for period 6/29- 7/12
Reverse accrual for 2 days in June, liability paid
Buy food for students for July, payment not due until 8/5
PM paid for period 7/13 - 7/27
Faculty paid for period 7/13 - 7/27
$
$
$
10,000
Receivable
Liabilities =
(2,520)
(1,200)
(2,520)
3,760
52,000
(2,520)
$
$
52,000
(52,000)
$
$
$
$
$
-
$
(360)
(360)
360
(4,000)
(4,000)
$
10,000
52,000
(2,520)
(1,200)
(2,520)
(360)
55,400
(2,520)
360
(4,000)
(2,520)
(3,880)
Cash In
Revenue
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
(10,000) Cash Out
32,840
Office of the Controller
Example (Continued)
Tuition
26* $2000
June
Beginning Fund Balance
Revenues
Expenses
Salaries and Benefits
Operating Expenses
Other Capital Outlay
Total Operating Expenses
Income (Loss)
Transfer In
Transfer Out
52,000
$
$
$
$
$
5,400
1,200
6,600
$
$
$
$
8,560
4,000
12,560
$
45,400
$
42,840
$
10,000
55,400
$ 2520
$ 2520
$ 3880
$ (360)
$ 8560
July
55,400
$
$
$
$2520
$2520
$ 360
$5400
Food $4000
Laptop $1200
Departmental
Loan
Loan Payback
$
$
(10,000)
32,840
Office of the Controller
Objective
1. Accounting Review
2. What is a Budget and General Budget Concepts
3. Budget Inquiries & Budget Status Report
4. Overview of some useful Queries
5. nVision Financial Reports:
• Define nVision
• Variance Analysis
• Available Budget
6. Demo
Office of the Controller
What is a Budget ?
 Management plan for meeting probable
revenues and expenses for a given period of
time
 Serves as a control mechanism to match
anticipated and actual revenues and
expenditures
Office of the Controller
Budgetary Accounts Categories used at FIU
Category
Revenue
Permanent Salaries and
Benefits
Other Personal Services
(OPS)
Other Operating Expenses
Operating Capital Outlay
(Assets ≥ $5000)
Cash Transfers In & Out
Examples
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Sales of Goods or Services
Rental Income
Sponsorship Revenues
Faculty, Staff, Administrative Salaries
Benefits
Temporary Employees
Student and Graduate Assistants
Adjunct Faculty
Travel Expenses
Office Supplies
Repair and Maintenance
Personal Computers
Furniture
Repair and Maintenance
Transfers to Construction
Start-up Costs for other departments
Office of the Controller
Budget Cycle for FIU
Prior Year
Preliminary
Phase
July – February
Implementation
Phase
February – April
Review
Phase
April – May
Budget
Posted
End of June
Current Year
Monitoring Phase
July –June
Office of the Controller
Objective
1. Accounting Review
2. What is a Budget and General Budget Concepts
3. Budget Inquiries & Budget Status Report
4. Overview of some useful Queries
5. nVision Financial Reports:
• Define nVision
• Variance Analysis
• Available Budget
6. Demo
Office of the Controller
Crystal Reports Inventory: Available Balance
Budget Status Report
Ledger Group
Description
CC_DEP (Department
Child)
Expense budgets, expenses, encumbrances & preencumbrances for Departments* or Activity Numbers
by detail Budget Account
CC_PRD (Department
Parent)
Expense budgets, expenses, encumbrances & preencumbrances for Departments* or Activity Numbers
by Parent Department
CC_REV
Budgeted, collected and recognized revenues
CC_PG (Project Child)
Expense budgets, expenses, encumbrances & preencumbrances for project by detail Budget Account
CC_PID
Expense budgets, expenses, encumbrances & preencumbrances for Departments* or Activity Numbers
by detail Faculty Allocation
CC_PRP (Project Parent)
Expense budgets, expenses, encumbrances & preencumbrances for projects by Parent Project ID
* Organizational Unit
Office of the Controller
On-Line Inquiries - Reports Inventory:
Available Balance Budget Overview Detail View
Office of the Controller
On-Line Inquiries - Reports Inventory:
Reconciliation Budget Overview: Drill to Activity Log
Office of the Controller
Reports Inventory: Reconciliation
Budget Overview: Drill to Activity Log
Office of the Controller
On-Line Inquiries - Reports Inventory:
Available Balance Budget Overview Parent View
Office of the Controller
On-Line Inquiries - Reports Inventory:
Available Balance Budget Overview Detail View
Office of the Controller
Reports Inventory: Reconciliation
Budget Overview: Drill to Activity Log
Office of the Controller
SQR Reports Inventory:
Available Balance Budget Status Report
Office of the Controller
SQR Reports Inventory:
Available Balance Budget Status Report
Office of the Controller
Objective
1. Accounting Review
2. What is a Budget and General Budget Concepts
3. Budget Inquiries & Budget Status Report
4. Overview of some useful Queries
5. nVision Financial Reports:
• Define nVision
• Variance Analysis
• Available Budget
Office of the Controller
Useful Queries
Query Name
Description
REQUISITION_WORKFLOW_ROUTING
List of employees involved in approving a
requisition by Requisition ID
FIU_DEPT_APPROVERS
Lookup Expense Managers 1 & 2 (Approvers) and
Organizational department by Dept ID
FIU_GL_TRANDATA_BYDATE
Detail transaction data for committed (enc & pre)/
paid expenses as well as budget by Dept ID
FIU_GL_DEPT_PROJ_LOOKUP
Lookup Fund / PCS/ Class associated with a Dept
ID or Org dept/Fund/Class/PCS/PCBU/Activity for
a project
Office of the Controller
Query Data
Office of the Controller
Objective
1. Accounting Review
2. What is a Budget and General Budget Concepts
3. Budget Inquiries & Budget Status Report
4. Overview of some useful Queries
5. nVision Financial Reports:
• Define nVision
• Variance Analysis
• Available Budget
6. Demo
Office of the Controller
The nVision reporting tool
 Provides real-time financial reporting capability.
 Extracts requested financial data from PeopleSoft.
 Places it into an Excel spreadsheet where it can easily
be reviewed and manipulated.
Template or
style sheet
Report
Request
•Keyed to Business Unit
•Includes saved parameters
•Rules for generating reports for slices of the
data
•The Scope feature allows you to create
multiple instances of a report using a single
report request.
Layout
Scope
Office of the Controller
Reporting nVision – Elements
Microsoft Excel
 Microsoft Excel is the backbone of nVision reporting. nVision facilitates
the retrieval of information from PeopleSoft databases into a Microsoft
Excel spreadsheet.
The Layout of the Report
 The Layout of the Report is a Matrix or Tabular Excel spreadsheet.
The Ledger Tables
 Layouts retrieve data from a ledger. This could be Actual, Budget or
Forecast Ledgers. The ledger tables have five major data components:
 Business Unit
 Ledger
 Chartfields (Account, Department and Project ID, Program, Fund, Site or Class.
Additionally for Projects PC Business Unit and Activity)
 Period and Year
 Net Posted Amount
 Actual transactions and Budget Transactions are stored on two separate
tables.
 Actuals data is on the LEDGER table
 Budget data is on the LEDGER_KK table
Office of the Controller
Reporting nVision – Elements
Continued
Time Spans
 Time Spans control the number of data periods extracted from the
ledger table and summarized.
Trees
 Trees are used to create hierarchical structures that visually
represent a set of summarization rules for a particular field. The
summarization rules depicted in a tree apply to the detail values
of a particular field – departments, accounts, funds, vendors,
customers or other values the University defines.
Office of the Controller
Reporting nVision – Variables
Report Variables
 Provide information about
the current nVision report
such as the Business Unit,
Report ID/name, Title,
Layout Name, Operator ID,
etc.
Date and Time Variables
 Provide information about
the Date of the Report, the
Tree, the Fiscal Year
Accounting Period, etc.
Scope Variables
 Provide information related
to the scope definition used
in the nVision report such as
the Scope Field Value or
description (i.e.,
department id or name)
Office of the Controller
Reporting nVision – Time Spans
Time Spans
 The Time Span controls the number of data periods extracted
from the ledger tables and summarized.
 Typical Time spans provided with PeopleSoft General Ledger
include:
 PER – Period – Retrieves only activity for the period selected (1=July, 2=Aug, etc.)
 YTD – Year to Date – Includes year-to-date amount for items selected.
 BAL – Balance – Retrieves life-to-date amounts (balance forward amounts) for balance
sheet accounts.
 Time spans are often expressed relative to current period, so that
they automatically adapt the content of a report to the “As of
Reporting Date” specified when the report is executed.
Office of the Controller
Reporting nVision – Scope
Scope
 A Scope can be on one Chartfield and one value as well as many
Chartfields and any values
 A Scope can be built on single values or tree nodes.
 This is a single value scope:
Office of the Controller
Reporting nVision – Scope
Scope
 This Scope includes Department and Fund Trees:
• This Scope can be copied to another
and change the fund node to:
OTHER_UNRESTRIC_FUND
Office of the Controller
Aggregate
level
Users
Fund
CFO / BOT
Fund
Exec Area
OFP
Fund
College/Unit
EABM
DeptID
ABM
Report
VA
Report
E&G and
Non E&G:
AS report*
Non Athletics:
AS report
Athletics:
AI Report
E&G : DI report
Non E&G: XA report
*A modified version of the AS showing subtotals per EA and College is being tested
Office of the Controller
nVision Financial Reports
Variance (Budget vs. Actual) Reports
Type of Report
Description of the Report
Name
Detail Transaction
Reports
Detail transaction data for committed (enc & pre)/ paid
expenses as well as budget by Dept ID
DT
Detail variance by account with a subtotal by account
rollups ( S&B, OCO,OPS, OOE) for a single Dept ID
DI
Detail variance by account with a subtotal by account
rollups ( S&B, OCO,OPS, OOE) for a single E&G Dept ID
Summary Reports
Detail Inflow (revenue, fund balance & transfers in) and
Outflow (Expenses and transfers out) variance with
subtotals account and account rollups
XA
Detail Inflow (revenue, fund balance & transfers in) and
Outflow (Expenses and transfers out) variance with
subtotals account and account rollups for an Athletics dept
AI
Office of the Controller
nVision Financial Reports
Variance (Budget vs. Actual) Reports
Type of Report
Executive Summary
Description of the Report
Name
Actual and budget information for Salaries & Benefits for a
range of Dept ID with a subtotal by Dept ID and funding
source
Actual and budget information for Other Capital Outlay for
a range of Dept ID with a subtotal by Dept ID and funding
source
Actual and budget information for Other Personnel
Services for a range of Dept ID with a subtotal by Dept ID
and funding source
Actual and budget information for Other Operating
Expenses for a range of Dept ID with a subtotal by Dept ID
and funding source
AS*
Actual and budget information for all expenses for a range
of Dept ID with a subtotal by Dept ID and funding source
Actual and budget information for revenues for a range of
Dept ID with a subtotal by Dept ID and funding source
*Note: The revenue section is collapsed
Office of the Controller
Reports Inventory: Variance Analysis
The VA Report
The Columns come from Ledgers and use Time Spans
The Rows come
from Chartfields
Office of the Controller
Reports Inventory: Variance Analysis
The AS report
Perm. Salaries
OPS
Variance Categories:
OCO
OOE
Total Expenses
Revenue
Office of the Controller
Reports Inventory: Variance Analysis
The XA report
Office of the Controller
Reports Inventory: Variance Analysis
The DI report
Office of the Controller
Reports Inventory: Available Balance
Audience
Aggregate
level
Fund
CFO
Fund
Exec Area
OFP
Fund
College/Unit
EABM
DeptID
ABM
Report
DS
Report
E&G and
Non E&G:
DS Report
E&G and
Non E&G:
DS Report
Budget Overview
Budget Status Report
Office of the Controller
Reports Inventory: Available Balance
DS Report
Office of the Controller
Reports Inventory: Available Balance
DS Report Budget Reconciliation
Office of the Controller
Reports Inventory: Available Balance
ES Report
Office of the Controller
nVision Financial Reports
Available Budget
Detail Budget status Report Available Balance detail by Budget account DI
Budget
Status*
Salaries Executive Summary
Salaries & Benefits Available Balance
ES
ES
OCO Executive Summary
Other Capital Outlay Available Balance
EC
EC
OPS Executive summary
Other Personnel Services Available Balance
EO
EO
OOE Executive Summary
Other Operating Expenses Available Balance
EE
EE
Executive Summary
Exec Sum by Dept
DS
DS
*Note: The Budget status report is NOT an nVision report. A tutorial is available online (UPK)
on how to run it at http://panthersoft.fiu.edu/financials/onlinetraining.htm
Office of the Controller
Objective
1. Accounting Review
2. What is a Budget and General Budget Concepts
3. Budget Inquiries & Budget Status Report
4. Overview of some useful Queries
5. nVision Financial Reports:
• Define nVision
• Variance Analysis
• Available Budget
6. Demo
Office of the Controller
Reports Inventory: The DT report Using nVision
Office of the Controller
Reports Inventory: The DT report
Office of the Controller
Reports Inventory: The DT report
You can choose
either a Department
Area or Activity
Number for this
report. Whichever
you choose, your
report will reflect all
selections for the
report.
Office of the Controller
Reports Inventory: The DT report
Office of the Controller
Reports Inventory: The DT report
Be sure to
“ENABLE” the
Macros for you to
adjust and retrieve
the item details
from PantherSoft.
Office of the Controller
Reports Inventory: The DT report
Office of the Controller
Questions ?