PROVIDING AGGREGATE FORECASTED IMPACT INFORMATION FOR PHYSICAL TO FINANCIAL ASSET RECONCILIATION
First Claim
1. A method of presenting aggregate financial impact information for handling asset discrepancies, comprising:
- determining a plurality of asset exceptions, each asset exception corresponding to financial asset information for an asset in a financial system that does not have corresponding physical asset information for the asset in an asset discovery system;
calculating aggregate financial impact information for all asset exceptions of a first type, the aggregate financial information indicating a financial impact of retiring all asset exceptions of the first type in the financial system, and displaying the aggregate financial impact information to a first user; and
based on the aggregate financial impact information, allowing the first user to perform at least one of routing the asset exceptions of the first type to a second user and storing the plurality of asset exceptions for later retrieval after investigating a status of the asset.
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Accused Products
Abstract
A reconciliation process identifying financial assets in a financial system that do not also exist in the real world, such as is indicated in a discovery system, generates a list of exceptions that can be examined by type of exception. The list of exceptions also includes aggregate financial impact information for the exceptions, such as aggregate cost, fair market value, and net book value. An interface allows a user to view the financial impact information and better decide how to handle the assets corresponding to the exceptions, such as by retiring at least some of the assets, routing some of the exceptions to another user better able to handle the exceptions, or storing the list so that an investigation can be done into at least some of the assets. The financial impact information becomes particularly critical near quarter-end and year-end, as any material impact to the books requires timely disclosure.
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Citations
30 Claims
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1. A method of presenting aggregate financial impact information for handling asset discrepancies, comprising:
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determining a plurality of asset exceptions, each asset exception corresponding to financial asset information for an asset in a financial system that does not have corresponding physical asset information for the asset in an asset discovery system; calculating aggregate financial impact information for all asset exceptions of a first type, the aggregate financial information indicating a financial impact of retiring all asset exceptions of the first type in the financial system, and displaying the aggregate financial impact information to a first user; and based on the aggregate financial impact information, allowing the first user to perform at least one of routing the asset exceptions of the first type to a second user and storing the plurality of asset exceptions for later retrieval after investigating a status of the asset. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A system for presenting aggregate financial impact information for handling asset discrepancies, the system including a processor operable to execute instructions and a data storage medium for storing the instructions which, when executed by the processor, cause the processor to:
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determine a plurality of asset exceptions, each asset exception corresponding to financial asset information for an asset in a financial system that does not have corresponding physical asset information for the asset in an asset discovery system; calculate aggregate financial impact information for all asset exceptions of a first type, the aggregate financial information indicating a financial impact of retiring all asset exceptions of the first type in the financial system, and display the aggregate financial impact information to a first user; and based on the aggregate financial impact information, allow the first user to perform at least one of routing the asset exceptions of the first type to a second user and storing the plurality of asset exceptions for later retrieval after investigating a status of the asset. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22)
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23. A computer program product embedded in a computer readable medium for presenting aggregate financial impact information for handling asset discrepancies, comprising:
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program code for determining a plurality of asset exceptions, each asset exception corresponding to financial asset information for an asset in a financial system that does not have corresponding physical asset information for the asset in an asset discovery system; program code for calculating aggregate financial impact information for all asset exceptions of a first type, the aggregate financial information indicating a financial impact of retiring all asset exceptions of the first type in the financial system, and displaying the aggregate financial impact information to a first user; and program code for, based on the aggregate financial impact information, allowing the first user to perform at least one of routing the asset exceptions of the first type to a second user and storing the plurality of asset exceptions for later retrieval after investigating a status of the asset. - View Dependent Claims (24, 25, 26, 27, 28, 29, 30)
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Specification