Working with Financial Management

you can establish and track budgets in as part of it financial management financial management consists of the following parts historical data collection compiles the data to use for the budget plan budget plan creates the budget cost tracking tracks the actual costs and compares them with the budget analytics reports the data results the lifecycle of the budget follows this model budget lifecycle historical data collection during this phase, do the following gather ad hoc trend analysis based on run time defined data filter criteria, such as date range, cost driver, service, entity, and price list items track customer requirements for the next budget year create budget items from historical data budget plan the budget plan consists of various parts master budget plan the overall budget, such as the budget for the current fiscal year see creating a master budget plan docid\ wcdpenzdd7clbts6lleed sub budget plan sub budgets are for specific entities within an organization or services, such as sales and marketing, mobile communication, or special projects see creating a sub budget plan docid\ f1acyitnzrpahj7kwywtt budget items budget items are specific items tracked within the budget budget requirements budget requirements are captured in the field called budget policy where details of budget requirements and policy are entered variable cost modeling supports variable cost models that allow you to create cost items and price lists that support variable costs for business objects for example, you can add different price list items for business objects for specific time periods, such as months or years see working with cost items docid\ yerbgibklb8kebxo7uank you can also create an analysis of a business model by evaluating different business values the business value modeling workspace shows values based on real data and you can use the workspace to create your own modeling report see business value modeling docid 87jivqp5x5uqq9mbn30yq