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International oil and gas venture management software used by hundreds of companies in more than 65 countries
 

 

Financial Management


Designed for Power and Flexibility


IDEAS Financial Management provides a multi-currency, multilingual, multi-entity, globally compliant accounting solution for domestic and multinational oil & gas operators.  Based on a PriceWaterhouse Coopers system design, IDEAS provides the benefits of a uniquely flexible architecture and uniquely powerful reporting capability. 

Financial Management modules include:


  • General Ledger
  • Budgeting
  • Allocations
  • Currency Management
  • Fixed Assets
  • Spreadsheet Link
  • Commitment Accounting
  • Account Reconciliation

IDEAS Financial Management enables you to:


Record the Business


  • Import financial information from spreadsheets with full validation
  • Establish any number of operating, revenue, production and statistical budgets denominated in any number of currencies
  • Define allocation rules to allocate cost among AFE’s, cost centers, cost objects, companies and group these rules into sets for multi-step  allocations
  • Import any number of transactions in any currency as  the cost basis of an asset
  • Use daily, average, monthly exchange rates or spot rates for currency conversion

Manage the Business


  • Retain all historical data, denominated in any number of currencies, for comparative reporting
  • Trace every transaction to its source document
  • Calculate depletion,  depreciation and amortization in accordance with local requirements
  • Understand your committed costs in addition to your expended costs
  • Prepare accurate, automated reconciliations and reconciliation work papers