Best Practice Financial Processes - Project Accounting.ppt

Best Practice Financial Processes: Project Accounting Project Accounting - Best Practices Objectives Project Accounting - Best practice features Project Accounting - Best practice features Project Accounting - Critical Success Factors Project team led, finance supported. Participative approach to financial project management leading to real buy-in; Comprehensive communication and training to maximise benefits of better information Standard formats and means of data collection / consolidation in place with manageable level of detail; Timetable in place with deadlines for inputting costs and timesheets agreed; Guidelines clearly defined and communicated; Effective communication and feedback mechanisms in place between central group(s) and project / job managers; Approval levels and responsibilities clearly defined; Effective use of management time during the review process; Integrated systems in place with software to support on line reporting and analysis by operating management; Strong analytical support to decision making, by both finance departments and project teams; Efficient use of IT, to ensure project managers receive timely and accurate information. Project Accounting - Issues and Trends Project Accounting - Projects Classifications Project Accounting - Level 0 Context Diagram Project Accounting - Level 1 Overview * PwC175i 管理资源吧（），提供海量管理资料免费下载！ 管理资源吧（），提供海量管理资料免费下载！ Project Accounting Objectives Organisation People Processes Controls Measures Information Systems to record and maintain costs and time at a project and task level to maintain project assets Work In Progress to bill / charge for jobs carried out to assist in planning, scheduling and controlling projects to measure ongoing profitability and technical effectiveness of projects and enable corrective action to be taken Bridge between financial management project management Establish project structure and type Create new project Allocate budget Track actual costs and time Review projects