Data and metadata – HFM Administrator Training from Keyteach

Data and metadata – HFM Administrator Training from Keyteach


so HFM is a powerful application that
allows you to manage financial information and that financial
information presents itself in the form of metadata that relates to the
dimensions and parked within the metadata is the actual data values themselves so
to give meaning to a data value we need to look at the metadata or the
dimensions that wrap that data so here we’re not just looking at an isolated
number we’re looking at the actual data for a particular period of time for a
particular year it also resides as a purchase account and it’s being analyzed
by custom dimensions as products and customers and the data is sitting in
London so when we talk about metadata we talk about the dimensions that exist
within HFM and when we select our dimensions a lot of the time in HFM
you’re using what’s called the point of view so here you can see the profit and
loss form this is a data form that allows you to easily review this data as
an administrator you’ve built the data form you’ve defined that the accounts go
in the rows periods are displayed in the columns and then on the point of view
where our end user selects the metadata or the dimensions
you’ve hard-coded a number of dimension choices for the user can only choose the
year the period and the entity so as an administrator we can make the selection
of metadata easier for our end users when we look at the HFM dimensions most
of them are hierarchical and most of them will aggregate so for example the
chart of accounts and the custom combinations or the custom dimensions
are all hierarchical and aggregate automatically as does the period of time
that we can see here the entity dimension is the dimension that we’ve
run a consolidation on so the entity dimension
will eventually aggregate but it only does that when we’re ready and we choose
to consolidate so HFM is full of hierarchical dimensions and because
we’re working with lots of hierarchical dimensions we need methods to select
multiple types of dimension members so we can choose a parent member and if
we’ve defined a parent member we could choose the children of that parent so if
we looked at selecting gross profit in this example the parent of gross profit
is EBITDA whereas if we had gross profit selected and we said give me the
children of gross profit that would give us gross revenue and cost of sales if we
said give me the descendants of gross profit that would show me everything
below gross profit these are effectively member lists that you can work with when
you’re selecting HFM dimensions particularly useful with
large dimensions like the chart of accounts another useful member list you
can use is one called base which allows you to get to the base level or the
input level for a given dimension HFM is financially intelligent
dimensions have attributes and the accounts have attributes such as revenue
and expense HFM is designed as a positive input
system but doesn’t have to be so in this example we can see the trading income
and the trading income other naturally aggregating up into gross revenue so as
soon as those base level data numbers are input gross revenue gross profit
EBITDA is populated however cost of sales is flagged as an expense it has an
attribute of an expense so that will decrease as it rolls up into the gross
profit so what we’ll see later on is when we
set up our chart of accounts we can specify the attributes of the accounts
and that will determine how they aggregate does that value increase or
does it decrease based on the attribute or based on the sign convention that you
use when you enter the data

Daniel Ostrander

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