Oracle Oracle Financial Consolidation Hub, User Manual, Page: 28 / 220

5-2 Oracle Financial Consolidation Hub User's Guide
Required Dimensions for Financial Consolidation Hub
1.
Entity - Used to represent the legal entities or business units that you want to
consolidate.
See: Setting Up Entities, page 6-1
2.
Company Cost Center Organization - The main organizational dimension by which
you record accounting data. Company cost center organizations are subsets of
entities.
3.
Intercompany - Used to identify and eliminate intercompany activity. It shares the
same values as the company cost center organization dimension. Financial
Consolidation Hub uses the intercompany dimension, together with the company
cost center organization dimension, to identify balances that should be eliminated.
4.
Line Item - Used to categorize the type of financial balance. Oracle General Ledger
users specify a natural account segment in their chart of accounts. The line item
dimension is analogous to this segment. Most consolidation eliminations, such as
intercompany and minority interest, are based on this dimension and most financial
reporting is also based on this dimension.
5.
Calendar Period - Based on the accounting calendar for your organization.
6.
Currency - Identifies the currency for each balance. Each entity typically has one
base currency and the financial data loaded for that entity is denominated in that
currency. If an entity is consolidated to a higher-level entity with a different
currency, Financial Consolidation Hub automatically translates from one currency
to the other.
Optional Dimensions for Financial Consolidation Hub
1.
Channel - Used to identify the channel associated with a financial balance.
2.
Customer - Used to identify the customer associated with a financial balance.
3.
Financial Element - Used to identify the type of financial balance such as ending
balance, average balance, and statistical balance. It is widely used in the financial
services industry and in Oracle Financial Services Applications that share the
Enterprise Performance Foundation data model. If you consolidate average
balances, or statistics, or both, you must enable this dimension. These types of
balances are identified by the financial element.
4.
Natural Account - This is similar to the line item dimension. It is available in
addition to line item because you may need to track two different types of natural
account. For example, one for legal reporting and one for management, or one for