New financial reporting environment
Go-live support training
Hotline No - for assistance from the project team call 830(22248)
The new Financial Reporting Environment is a project aimed at transforming how the University captures, transacts and utilises Financial Information.
The project aims to achieve a major change in the way we use the University’s central financial information systems resulting in the delivery of an integrated NEW FINANCIAL REPORTING ENVIRONMENT (depicted in the diagram below) achieved by:
- Standardisation of Financial Processes across the University
- Re-engineering of Finance One including new sub ledgers and chart of accounts
- Implementation of New Budget Framework
- New reporting structures
- Updates to My Cost Centres
The project will deliver the following benefits:
- Improved financial reporting through easier ‘one stop’ access to financial detail
- Enhanced financial management ethos through transparent budgeting and reporting approach
- Improved corporate visibility of research project activity and operating result
- Improved cross-university results analysis as result of reusability and homogeneity of key financial processes
- Enhance clarity and control of Professional Development and Scholarship expenditure