Oracles Hyperion Financial Management (HFM) is a component of Oracles business intelligence implementation. The software is internet-based and is elaborate enough to allow for rapid and cost-effective financial management at a global or enterprise level.
The software can scale to your organization’s requirements allowing you to collate data, consolidate it into relevant financial information that you can analyze or report instantly or later.
Below you will find a description of a very useful component of the HFM software namely, dimensions that allow you to direct the data you receive from the real world and into the system using specific parameters.
Oracle HFM Dimensions
Dimensions simply describe or define an organization’s data. The dimensions can be broken down into more specifically related members under the dimension.
When users do dimensionality well, it allows for easy allocation of any relevant organizational data into a specific dimension without any confusion. If they achieve this, the data will be easy to maintain and this will reflect in:
- Easier use
- Reduced maintenance costs and
- The tools become more powerful
There are 9 dimensions used in oracle HFM and these are:
- Account Dimension
- Year Dimension
- Period Dimension
- Value Dimension
- Custom Dimensions
- Intercompany Dimension
- Entity Dimension
- View Dimension
- Scenario Dimension
Below is a brief description of the first four dimensions listed above:
1. Account Dimension
Data captured in the account dimension describes financial data used to describe entities or scenarios in an application. Each account has a type associated with it such as expenses or revenue that describes its treatment in accounting practice.
Attributes that you may define in the members of the account dimension include the following:
- Decimal places displayed
- Account type or
- If the account is consolidated, calculated or an inter-company partner account.
2. Year Dimension
This dimension represents or defines a fiscal or financial year as described by the user. A default calendar year could also be applicable. The period that you choose can come from two different calendar years.
The main consideration is that from the initial date chosen, twelve months are from that point and the last month selected on the 12th month to complete a fiscal year.
3. Period Dimension
The dimension that you would use to define periods such as quarters, months, etc. can be presented in the period dimension. This dimension has defined periods represented in a hierarchy.
HFM only supports weeks, months and years in the period dimensions. It does not give provision for days in this dimension.
For example, when using the period dimension to store data in months, the data will divide into 12 periods of data for a particular scenario within a single year.
4. Value Dimension
This dimension represents or defines data that describes specific values stored in the application. It can include values like:
- Adjustments (such as how a currency should be converted)
- Input currency
- Default currency
- Consolidation data
For example, within the value dimension, the entity currency, which is a member of the dimension stores the value for an entity in its particular local currency.
The above examples should give you a proper sampling of some of the dimensions you can expect with oracle HFM and how they apply.
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