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Re: Valuation
by
Camptocamp SA, Frédéric Clementi
Hello David,
At least for us in Europe, I think XBRL is not spread enough in the SMEs world regarding fianancial reporting but I am far from being a specialist.
For the rest, your remarks are very pertinent.
See my comments below.
Regards,
camptocamp
INNOVATIVE SOLUTIONSBY OPEN SOURCE EXPERTSFrédéric ClementiProject Manager
1. Oftentimes, in reports, we want to exclude valuations or separate them. An easy way of doing this, I can think of right now, is by using a journal type "valuation". This provides a generic/standard way to construct report domains within the v9 accounting reporting framework. Q/ Is this in line with how things are done when it comes to separation at reporting time? How is this pattern solved? Is this at all solved generically?
Yes, it is the correct approach with Odoo and in the standard you can already select journals in financial reports (ex: General Ledger). For statutary reports (P&L & BS) you might have to customize a bit (but no coding - just params I think)
2. Oftentimes, we have a base value, that we want to modify by some logic X. An easy way of doing this, I can think of right now, is providing a journal entry interface "Valuations", which implements valuation algorithms/wizards extensions, that prepare the valuation move. Such an interface would be able to host metadata such as periodicity or automation about a specific process. Q/ Is this a good way or a bad way as to how to look at this? How does this diverge from how things are done currently?
Exact. I think there are rooms for improvement in Odoo to help accountant with year-end valuation. Odoo already made a revenue/expenses recognition modules in the Enterprise but I think the OCA Closing modules (https://github.com/OCA/account-closing) will have to be ported to Odoo 9.
I would have appreciate a planner (you know this need tool in Odoo 9 to help user in the process of setting up... Something similar could have been done probably).
However, these modules I am refering to will not help you to valuated your Balance Sheet as per IFRS or US GAAP for instances.
I give a example : A leasing is usually a basic rental booking in day-to-day accounting but retreated as Asset purchase and Debt according to IFRS.
This is the kind of valuation you are refering if I understand you well and we definitely do not have such modules to cover that but let's face the reality : Among Odoo partners, how many have customers big enough to pay for such features. It is not a global priority yet for OCA (but I hope it will be soon).
But I am sure that it is not the scope of features targetted by Odoo.
I nevertheless try to add to your topic list, what pops up to my mind, without claiming anything at all:- 2IFRS transitory phases with adjustment needs- differences between tributary and main balance (eg. realized tax incentives)- securities and other equity valuations- hyper-inflationGenerally, as to your question, I think IFRS for SME or IFRS Standard give a quite complementary picture over the topic.
I will add a section in the gaps analysis google doc.
What does cut-off refer to? Is this an accounting project idiom? (http://www.merriam-webster.com/dictionary/cutoff) Sry for my possible ignorance...
By 'cut-off entries' I mean all adjustement entries posted usually at the closing date (month or year) to correctely allocate expenses and revenues to the correct fiscal year. So it is part of the valuation you are talking about.
2015-10-29 11:38 GMT-05:00 Frédéric Clementi <frederic.clementi@camptocamp.com>:Hi David,In the document I listed the following topics:- assets valuation- inventory valuation- currency revaluation- cut-offBut OCA provide various modules to handle these functionalities.What would you includes in such topic ?camptocampINNOVATIVE SOLUTIONSBY OPEN SOURCE EXPERTSFrédéric ClementiProject Manager2015-10-29 16:53 GMT+01:00 David Arnold <dar@devco.co>:Hi!
I've studied Frederic's comprehensive feature analysis, which gave me first insight into the current state of the accounting functionalities.
Still, I wonder how the whole functional topic "valuation" is set up within this accounting project. I see there are modules tackling individual concerns like periodic fx valuation. But I wonder if this has thought as kind of a framework? What is the OCA approach on this?
Best, David_______________________________________________
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