By TopDown Team
November 24th, 2015
Accounting means to assign the correct numbers to the correct accounts in the correct time period. Consolidation means to combine the accounts of several entities according to accounting rules.
Hyperion has three reporting methods: Hyperion Reports, Hyperion Smart View, and standard reports within Hyperion Financial Management (“HFM”). I will address each of these reporting methods in this blog. I will also discuss XBRL reporting at the end.
One practice I have seen work well is to appoint a report administrator to manage changes to existing reports and new report requests. This position can help in several ways. With new reports the administrator can provide guidance on whether Hyperion Reports or Smart View is the best solution. In general, Hyperion Reports are used for static reports such as the balance sheet, income statement, statement of cash flows, and other statutory reports. Statutory reports means reporting due to laws from the legislature, as opposed to case law. For example, the SEC act of 1934 requires periodic issuance of 10K, 10Q, and 8K reports; these reports are statutory reports. The Smart View Excel add-in, on the other hand, is best used for management reporting and ad hoc reporting. Another function the report administrator can provide is to advise whether it is better to use the metadata to provide a total, or to create a custom total in a report.
Financial Reporting Workspace
Hyperion reports are modified in the Financial Reporting Studio (“FRS”) and are viewed in the Financial Reporting Workspace. The Financial Reporting Studio can produce high quality graphs and images was well as standard table based reports. In producing reports, it is customary to put the time dimension on the X axis and the other dimensions on the Y axis. I recommend printing a copy of the metadata before beginning a report, it will make the selections easier. Also, it is a good idea to determine a way to verify the accuracy of the report before beginning to create it. Batch Scheduler can be used to automatically produce reports based on time, and to email the reports.
The Excel SmartView add-in allows Hyperion data to be displayed in Microsoft Excel. The full power of Microsoft Excel can then be used to compute and display the data. Accountants use Microsoft Excel often. In addition, SmartView reports are easy to prepare and use. The first step to create a smartview is to create the connection. In order to do this, you will need a connection string. The connection string varies with the version of SmartView but the format is something like this: http://yourserver/hfmofficeprovider/hfmofficeprovider.aspx. You can get your connection string from your administrator, or from anyone who has a working smartview.
HFM internal reports
There are two types of HFM internal reports: journal reports and intercompany reports. These are built in reports that are accessed from within the HFM application. To use the intercompany reports, the company must establish a standard set of intercompany accounts in the metadata.
XBRL reporting to SEC
Public companies, companies that fund themselves from stock or debt offered to the public, are required to file financial reports to the Securities and Exchange Commission (“SEC”). In 2009, the SEC began asking companies to submit data in compliance with a taxonomy the SEC had created: http://xbrl.sec.gov/
A taxonomy is a form of metadata that is represented in Extensible Markup Language (“XML”). HFM metadata can also be saved in XML. The process of translating HFM metadata to SEC XBRL is analogous to the functionality that FDM provides: mapping one set of metadata to another set of metadata. To provide this functionality, Hyperion uses a combination of FRS and Disclosure Management. It uses FRS to upload XBRL taxonomies and create XBRL instances by mapping the HFM metadata to the XBRL taxonomy and it uses the Disclosure Management module to create and modify XBRL taxonomies.