Closing Cockpit
Transcript of Closing Cockpit
Closing Cockpit
Closing Cockpit
One common status Tracking MechanismCommon templates and Guide lines that
Every one can useAbility To Assign Roles And responsibilities
for Each TaskDependency Information related to closing
Process
Components of closing cockpit
Organizational hierarchies(company code, controlling area , operating concern, profit center)
Task list template Task Lists: derived from template and
extremely crucial for successful definition of the month end close
Dependency between tasksMonitorDetailed Information
Steps for setting up closing cockpit
Conducting planning and researchCreate the basic template dataBuild the closing template hierarchyConfigure individual tasksChange the template to an executable task
list
Step1. Conducting Planning and Research
Tasks to be performedThe order of performing the tasksWho owns the taskWho executes the taskWho reviews and approves the results after
task is completedHow long the task takes to complete (run
time)The post close audit requirements
Step2.Create a basic template data
Provides formal structure for the organizational hierarchy , closing tasks in the form of lists , and the ownership of the task by identifying the individual task owners
Controlling the order of precedence or sequence of the individual task execution
By configuring the closing cockpit template , we can setup the basic closing model that the system copies to a date specific task list during the closing process
Step3.Build the closing template hierarchy structure
Starts with the construction of a hierarchy of task folders
Then assign organizational structures to the created task folders
Process flow for configuring closing cockpit
Create Template
Creating Tasks
Different types of tasks
Program without a variantProgram with variantTransactionNote
Creating task type: Program with variant
Creating Task Type: Transaction
Dependencies Between tasks
Create A Task List
Changing the Template to an Executable task List
Scheduling Tasks
Closing Cockpit Monitor
Detailed Information on Tasks