Monday, June 27, 2016

OECD Country by Country Reporting in HFM and HTP

Lately I've been researching the OECD requirements for BEPS / country by country reporting. The reporting requirement will start in 2017 so there is time to sort out the setup and process. I have spoked with a couple HFM clients about it and there are a couple of different ways to do it.

With Hyperion Tax Provisioning version (released April 2016), there are now three forms/reports for country by country reporting built into the application.

But, there are additional fields (more cell text related) that may be needed. Also, if a company is not using HTP now, they may not want to go through all of the HTP implementation and components, at least not right now. And, a company may not be running on the platform or have a license for HTP. So, for these use cases, a regular HFM application - either integrating into a standard consolidation application or a standalone "CBC" application - can easily handle the reporting needs.

Either way, a process to create an XBRL/XML file can be added to extract the data with the appropriate tags for electronic submission.

So, with Oracle EPM, there are multiple ways of handling the need for OECD country by country reporting.