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