Empowers Your Management of the Entity Life History for Your Business

 

Proper implementation of Entity Life History can have a significant improvement on your accounting systems. Learn More

This IT terminology may be confusing to business users. You can assume that an entity is just a special pronoun for something. If your application is focused on asset accounting, you will be concerned with managing the life history of assets, change in amount as result of acquisition, maintenance, amortisation, fair value, impairment, transfer, disposal and write-off. Different assets, such as investment property, fixed asset, loan investment, bond, deposit, inventory, equity investment, will have different calculation rules for measuring and accounting for each category of life history.

The problem area is how you can automate the measurement and recognition rules for different categories of multi-dimensional movement of account balances. Learn More

It is assumed that your accounting systems can automate the calculation of the account balance for a different periods with reference to the vouchers, regardless of whether they are closing quickly or slowly. But the problem area is how you automate the measurement and recognition of different categories of multi-dimensional account balance movement, reconcile from the opening, different movement totals, to the closing balance. You can assign each category of movement accounting with one processing rule for calculating a certain asset change.

Executable Command + Command Function = Effect Change in Entity Life

Effect Change in Entity Life = Action on Data Flow with Data Structure

FlexCalc is not only a reporting tool. It supports your management of entity life history for A) Scenario Planning B) Fast Closing C) Group Accounts D) Other Sevices. Learn More

Modernisation of traditional accounting software provides some flexibility in data flow and data structure, but rarely supports flexibility in the entity life history. These software can have a prebuild standard asset subsystem that supports asset and liability management (for example, fixed assets), its entity life (for example, acquisition, maintenance, depreciation, disposal). It is unlikely that with the support to allow you reconfiguring the application of fixed assets or create a new application to account for your new business, for example, Bonds, Investment Property, Stock Security Trading, Equity Investment, etc.

FlexCalc is not only a reporting tool, it extends from reporting to recording with managing changes in your evolving Data Flow, Data Structure and Entity Life History. The tutorials of this website demonstrate how FlexCalc inspires you to be creative and smart in managing data changes at different stages of the data flows throughout your organisation, implementing them with simple settings that closely match your natural thinking.

FlexCalc can help you build applications to support A) Scenario Planning B) Fast Closing C) Group Accounts D) Other Services. Below is a brief description what entity life history related to each type of application: –

Level one entity is Scenario, this mean that each scenario of your planning can have life history, from creation of new scenario, version change, closure of the scenario. Scenario is different from version. Users require simultaneous comparisons of different plan scenarios. For each scenario, it may have a history of different versions because scenarios are editing over a time series.

Level two entity is depended on your scope of planning. Your planning can be Departmental Expense Budget by different scenarios of business activities and macro economic parameters. So, the level two entity is Department, in fact Department can have life, from newly establishment, restructuring to closure of a department.

You may have to deal with third and fourth level entity, all depend your situations. You can ignore the management of particular entity if it is either descriptive nature or irrelevant to your key figures.

It refers to a basic unit of account closure for your concern period of time interval – daily, weekly, monthly, quarter, interim and yearly. Retail Branch, Project, Business Unit, Warehouse or Legal Entity can become your concern level one entity. Most of these entities usually have similar life history such as New, Modification, Disable and Removal.

Level two entity usually be different classes of assets such as investment property, fixed asset, loan investment, bond, deposit, inventory, equity investment. Usually these asset life histories will impact to your note to individual accounts with disclosure of movement of account balance by Balance b/f, Addition, Amortisation, Transfer, Impairment, Disposal and Balance c/f.

If you can arrange each entity life history for all categories of assets, liabilities and revenues be processed on either daily basis or real time basis, you can achieve faster closing for your concern entities for different intervals.

The entity is similar to the fast closing above. Why we separate group accounts from fast closing? It is because most of the users we work with do not focus to take into measure and account individual assets and liabilities directly at consolidated level. Instead, they rely on the financial close of individuals no matter some of individuals cannot provide numbers consistent with the Group Accounting Policies. In addition, different individuals provide different presentations of numbers in the form of different Excel layouts. If they prefer to support this data processing model, a powerful mapping function is important for managing the standardisation process and validation.

Comparing Scenario Planning and Fast Closing, below are unique operational issues of the preparation of group accounts:-

Foreign Currency Translation: This is not related to the question of supply and demand rates or the cheapest exchange rate for a particular currency, for example, exchange HKD to CNY outside a bank. The ambiguity of the foreign currency translation of Group Accounts is mainly due to the presence of imperfect data. It is common sense for any foreign currency asset, for example, Deposit, to use the current exchange rate as the basis for converting foreign currency into local currency. To account for aggregated foreign sales transactions for a group of companies, by common sense, each transactions must be multiplied by the exchange rate on the date of the transaction. Whenever the data available for the preparation of consolidated financial statements are far from perfect, in most cases we observe that the calculation deviates from the requirements of IFRS using different approximation models.  The Demo App Conso YTD-TB is a typical case using simple average exchange rate as an approximation to actual exchange rate. Using this method, is assumed there are no significant seasonal fluctuation of revenues.  Tutorial App Foreign Currency Transaction (1c) and Dual Base Currency (1d) are using perfect data to implement foreign translation.

Change in a Parent’s Ownership Interest in a Subsidiary, Joint Venture and Associate: This includes the implementation of effective date of changes to this calculation because of different measurement rules for different types of accounts. Entity lift history covers acquisition and disposal of a company. It will have an impact to some of note to balance sheet accounts, introduce a new movement type – addition and disposal of fixed assets is referred to an acquisition and disposal of a company.

Reconciliation and Elimination of Inter-company Transaction: This is derived from a complex relationship of your group of companies they are carrying business co-operations when they distribute across different time zone, use different functional currencies and adhere to different cultural business practices. One of most complex areas observed is the sector of manufacturing group which cover a full range of value chain, from extracting raw material to producing final finish goods. Elimination of transaction involves identify different stages of inventory which recognise unrealised profits by individual companies across the value chain. However, identify particular unsold raw material, WIP and finish goods, which is purchased from inter-companies, is not attributed to an ideal story.

GAAP Adjustment: If there is a significant effect of inconsistencies with the Group’s accounting policies for a particular class of assets, liabilities or revenue, GAAP adjustments should be measured and taken into account by comparing the results of the re-measurement of individual assets and liabilities with original wrong figures.

Whenever your necessary and built Apps go beyond A) Scenario Planning B) Fast Closing C) Group Accounts, you can classify Apps as D) Other Services (for example, you create applications for auditing payroll systems for both permanent and temporary staff). Below is information about why we are confident that FlexCalc can support your work with other services.

Executive Information: FlexCalc is not build in a day. It is evolving from the earliest development Executive Information System (EI tool). The EI tool was planed to explore and develop after the very success story of Fion in 1996. First generation of EI tool came to the market in 2002. The objective of the EI tool is to facilitate and support senior executive information and decision-making needs. So it is not design exclusively for traditional accounting model. This tool is fundamentally different from Fion, it lets you to define Exaction, Transformation & Load rules with your preferred column names.

Zero Base Development: What distinguishes FlexCalc from its earlier family Fion, EI, EIQX, FionQX, Multiway, and LedgerBase tools is that FlexSystem reinvests this type of tool no longer adhering to its family codes and reusable software components — makes the design very clean and fundamentally to embrace Microsoft’s latest in-memory data processing technology as well as to meet general user expectation in simplicity, flexibility and speed. FlexCalc is not a repackaging by a combination of our software components.

Every Row is Your Innovation: FlexCalc offers you the maximum freedom to create applications designed for relevant data processing services to adapt for a very wide range of Entity Life History management, most importantly every row of settings can support your greatest innovation of Data Flow, Data Structure and Entity Life History for particular data processing service.

Staffing: The development of FlexCalc involves two types of IT staff – Analyst Programmer and Business Consultant. Analyst Programmer is influenced by UML – to ensure high re-usability of software components and connectivity among different components. Business Consultant is influenced by SSADM – to ensure the results of App Building can achieve specific scenarios of business concerns.

Also See Our Search Results – SSADM vs UML

App Portfolio: After the end of this year, this website will cover a portfolio of tutorial and demo applications in the ABCD categories to provide more guidance for your application development practices. The 2020 decade FlexCalc will move forward to the Roadmap of Data Science, the publication of the applications in ABCD will cover using specific data processing technique in data science with application of machine learning technique – deploy history data as part of business logic to support processing new data. 

Management of Total Liability Life History

From Scenario Planning, Monthly Closing to Group Accounts

 

Leverage Data Science with App Generator to Master Entity Life History

 

App Portfolio (Data Science is not Classified as E): After the end of this year, this website will cover a portfolio of tutorial and demo applications in the ABCD categories to provide more guidance for your application development practices. The 2020 decade FlexCalc will move forward to the Roadmap of Data Science, the publication of the applications in ABCD will cover using specific data processing technique in data science with or without application of machine learning technique – deploy history data as part of business logic to support processing new data. 

Applied Statistics: From the very beginning of the development of FlexCalc (previously known as Accounting Creator), which is supported not only by the experience of EI and related tools, but also strongly influenced by the academic knowledge gained from a course duration 1989~1993 with major in Applied Statistics. This course covers a substantial part in Information System along with Applied Statistics. The root design of FlexCalc to support business users to implement SSADM efficiently by starting a row of settings, is wholly applying the learning results from City University of Hong Kong – understanding the disadvantage of using SQL statement to implement SSADM and the issues of the relational database. The ongoing development of the Linux and Microsoft Windows file system will make the relational database system obsolete.

Applied statistics is the main element of modern data science. Data science is not only a rebrand of applied statistics, it includes many computational algorithms that go beyond applied statistics. At present, the global computing infrastructure and community makes possible the practical development and implementation of specific computational algorithms that were previously impracticable.

Basic Statistics Functions: Currently, FlexCalc provides the Build Statistics and Compute Table command to support the construction of multidimensional summary data associated with 6 basic statistics. The statistical results can cover one or more of the following time interval no matter referring to calendar year or financial year with different year-end dates:-

Sum Count Max Min Average Median
Month
Quarter
Interim
Year
YearEndBalance
YearEndRetain

The first 4 intervals deal with the movement in each interval, YearEndBalance and YearEndRetain deal with the calculation of balance values ​​with reference to the very beginning of the data to the end of each year, which is unique to accounting practice, for example, all profit and loss balance can be configured transfering to one or more retained accounts. Build Statistics supports the construction of statistics to file folders directly, and the Compute Table allows you to configure a data flow to store statistics by a in-memory data table for further steps of data processing.

Summary Data with Associated Statistics:  When you need to process a large amount of data with a lot of columns and rows, you can use the statistical information obtained from your selected columns. FlexCalc implements Microsoft in-memory data management technology, support for getting a unique list of combinations that covers your selected descriptive columns (e.g. Project, Product, Location) and associated statistics to the total population of data rows with your concerned number columns (Quantity, Amount).

Evolution of Our Software: R2R to BI to Conso to Robotics to Intelligent Agent

Fion/FionQX are best described as R2R as they empowers business users to build various FlexAccount Reports on self-service basis.

EIQX is a redevelopment of the ETL software – EI. EIQX is more focus on presentation of data rather than transformation of data. It is best described as a Business Intelligent tool by its fanatics dashboard.

Multiway (FESA Consolidation) is best described as a Consolidation Engine for Group Accounts as it allows to config calculation rules to support building necessary records, using FionQX to automate the generation of consolidated financial statements.

LedgerBase is extending to a wider scope of business process management in a distributed computing environment and is best described as a robotics software. At different stages of implementing your systems, starting with prototyping, detailed study of requirements, deployment and testing, our implementation consultants play a key role in working with you to build one or more robotic automation processes for your users.

FlexCalc: The timing and people involved in the development and implementation of the systems, FlexCalc is fundamentally different from the LedgerBase approach. Despite the fact that without a necessary of participation of our implementation consultants, you can very quickly build similar robotic process automation, but this website does not pretend that FlexCalc is a robotic software. This is a FlexCalc roadmap that will help you work closely with FlexCalc Builder as an intelligent agent group for your employer, since you can very quickly build or modify application to adapt to a changing business environment. In the future, FlexCalc will offer you some useful features to support a building of special intelligent agent that can adapt changes directly, without rely your observations to react changing the settings of the agent.

Within the top menu “Scenario”, you can see an item ofCase Analysis”. These case analysis are written during we were implementing systems using Multiway, subsequently replaced by LedgerBase. Obviously, FlexCalc see these are basic solutions to solve your cases. All these are old solutions. For the written of new cases and solutions, we open two new sections, they are “Demo App” under the menu “Scenario” and “Case Summary under the tutorial menu. Most importantly, FlexCalc enable us, these two sections is provided the actual settings of the Apps with necessary explanation – showing the truth rather than rely on telling attractive business stories.

Machine Learning or Not: Machine learning and deep learning are the two main techniques in artificial intelligence. If a machine learning solution is claimed, the system should use historical data to identify valuable business logic to support the processing of new data. Simply coding of a set of conditions (if-then-else) is not machine learning — these conditions cannot respond to changes in business games unless a person makes further changes to the conditions.

If a solution is needed for data science, the system typically uses statistics — regression or its family member — operations research. Some data science projects will implement machine learning or deep learning, some will not.

2020 FlexCalc’s Roadmap: The coming decade will be the stage of maturity of the data science sector. Initially, our main focus will be operations research and the associated method of machine learning coding technique in the following scientific programs:-

  • Inter-co path determination, from generating inter-Co vouchers to elimination of related inter-co balances at conso level
  • Supply-demand involving production & logistic cost optimisation
  • Simulation with continuous random variables for Scenario Planning
  • Smart Queuing System with different configurable variables 
  • Recognition of Excel different layouts when some column names are missing
  • Reverse engineering of net income & assets to  different scenarios of full set financial statements by parameter settings
  • Transform accrual accounting vouchers to cash flow accounting vouchers – to support reporting on direct method cash flow statements
  • Auto-triggered building statistics for different kinds of value types of account movement & balance by consolidation of LamiShow report settings from server job queue & historical queue

AppDic to OOApp: To support the 2020 Roadmap, FlexCalc is implemented AppDic to support business users using simplex setting for building OOApp with the benefits of ultimate flexibility and performance by the following descriptions:-

  • Compact source code of FlexCalc & your Apps — FlexCalc has an excellent design for implementing object-oriented programming in order to minimise the size of the source code of the software & increase the possible combinations of red, green, blue spectrum for business users to innovate business applications
  • Minimise application settings & complexities — minimum one combination of command, data flow & command function may become a workable application for business
  • Accelerate flexibility — there are enough elements of red, green, blue that give you a lot of opportunities for changes
  • Superior performance — it is sometimes argued that OO performance deteriorates, but this does not concern FlexCalc due to FlexCalc has implemented AppDic that solving traditional performance issues using object-oriented programming
  • Easy for maintenance of Apps — business users are familiar with operating spreadsheets rather than complex & rigid GUI
  • Why not procedural programming — if rely on this classical model (it looks like classical music) of software development, the software is unlikely can achieve below goals at the same time:-

1) flexibility & friendly in user settings for App Building,

2) small size in source code of FlexCalc itself & Apps,

3) fast development of software to support building comprehensive Apps, 

4) very high performance in execution of Apps deal with complex data processing.

Use various combinations of red, green, blue settings, support to cover your business logic scenarios as much as possible without involve further customisation of FlexCalc for your required Apps. Thanks to Microsoft .Net supports our unique software development model of OOApp for business users, your business logic can be very effectively matching with the corresponding AppDic objects. AppDic can map to  a lot of application settings, but also maintain high performance when executing commands. In conclusion, AppDic is one of most advanced techniques of designing Application Generator, despite FlexCalc do not follow the traditional approach to design Application Generator – its generate AppDic rather than low level source code.

New Paradigm of Outsourcing: Traditional outsourcing is outsourcing mechanical works to independent third-parties. Moving to this knowledge base economy, new paradigm of outsourcing is evolving.  The construction of this sizable website is using the new paradigm of outsourcing, acquisition some of valuable publishing tools to speed up the development of the website rather than rely on services to be performed by third-parties. Using application generator will become a first choice as part of your software outsourcing exercising.

New Tech is Ready for You. What You Draft Documentation of System in the Spreadsheet with Data Flow, Data Structure & Entity Life, Now Allows you to Execute Directly, See the Results, Amend to Achieve Better System Design Again & Again.

 

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