| # Interim Results (tpppc3150m000) Use this session to view, modify, and process the interim results, which are the financial results of a project or contract that is not yet completed, for example, the profit or loss postings at the end of a financial year. For more information, refer to To use financial result. Revenue can be recognized either by project, contract, or contract line. You can specify the interim results in this session or generate the same using the Generate Interim Results (tpppc3250m000) session. The data is captured during the calculation of the results, which improves the visibility of the data for analysis. This ensures that the user is provided with accurate interim results and balances data. Expected loss can also be calculated. You can use this session to: Generate the interim results using the Generate Interim Results (tpppc3250m000) session. Enter interim results or modify the generated interim results. Process the transactions and view the integration transactions by revenues and costs. View the totals of the revenue, cost, and balance for the selected interim result. View the contract totals using the Financials by Contract (tpppc3150m100) option from the Reference menu. View the hours related to the budgeted, cost incurred, estimate to complete, and estimate at completion costs and revenues. Infor LN allows multiple users to approve interim results using the ION based workflow-process status. For more information, refer to Workflow status process. Related topics To use progress result Revenue Recognition (RR) and Cost of Goods Sold (COGS) Contract The code that identifies the contract. Description The description or name of the contract. Contract Status The contract status. Contract Line The code that identifies the contract line. Description The description or name of the contract line. Contract Line Status The contract line status. Project The code that identifies the project. Description The description or name of the project. Status The project status. Scenario The setting for the scenario, based on which the contract interim result is generated. You can use this to generate alternate data of the interim results. You can also compare the result of this scenario with the primary result for financial reporting purposes such as SAB 74 (accounting standard). Allowed values Interim Results Scenario Date Range Interim results are displayed according to the date range. Result Revenue If this check box is selected, Interim Results with Revenue are displayed. Result Cost If this check box is selected, Interim Results with Cost are displayed. Result Balance If this check box is selected, Interim results with Balance are displayed. Totals by Totals by is displayed if a record is selected: contract, contract line or project. The displayed totals are the totals for the selected contract, contract line or project. Revenue The total revenue for the selected interim result. Currency The currency used to express the total amounts for the project or contract. Revenue Approved The total approved revenue for the selected interim result. Revenue Posted The total revenues posted for the project or contract. Cost The total cost of the selected interim result. Cost Approved The total approved cost for the selected interim result. Cost Posted The total costs posted for the project or contract. Balance The total balance for the selected interim result. Cost Approved The total balance cost approved for the selected interim result. Cost Posted The total balance cost posted for the project or contract. Hours Cost The cost of the hours allocated for the project or contract. Hours Estimate to Complete The additional hours required to complete the project or contract. Estimate at Completion The estimated cost at completion value is used to determine the cost at the end of a project. Hours Estimate at Completion The total number of hours estimated to complete the project or contract. To calculate the hours: When hours are included in the Estimate to Complete (ETC) forecast, the method to calculate the same is:
    ETC= EAC - Actual hours
When hours are considered based on the leading forecast method specified in the Project Progress Parameters (tpppc0100s000) session for the following forecast methods, the Estimate at Completion (EAC) value is calculated: EAC = Budget + Forecast (current budget) for the Estimated Extra Costs (EEC) method EAC = Actual cost + Forecast (actuals up to the registration date) for the Estimate to Complete (ETC) method EAC = Forecast Description The description or name of the code. Financial Result Revenue The interim result type to which the revenues are posted. Financial Result Cost The interim result type to which the costs are posted. Description The description or name of the code. Description The description or name of the code. Revenue Exchange Rate Type The exchange-rate type for revenues. Cost Exchange Rate Type The exchange-rate type for costs. Revenue Calculated The amount specified for the revenue calculated . Amount The amount specified for the revenue calculated in home currency. Currency One of a company's base currencies in which LN registers and reports amounts. In a multi currency system, up to three home currencies can be defined. Cost of Sales Calculated The cost of sales calculated for the interim result. Amount The amount specified for the cost of sales calculated. Cost of Sales Recognized The cost of sales recognized for the interim result. Amount The amount specified for the cost of sales recognized in home currency. Balance The balance amount. LN calculates the balance using the following formula: Note
    Balance = (Actual Revenue - Recognize Revenue) + (Recognized Cost of Sales - Actual Costs)
Currency The currency in which the amount is expressed. Revenue Rate/Rate Factor The revenue Rate/Rate Factor. Cost Rate/Rate Factor The cost rate/ rate factor. Registration Date The registration date and time of the record. Workflow Status The status that is applicable for the business object requires authorization using ION Workflow. When you perform a change that requires authorization, a checked-out version is created for the business object. These changes are effective only after the approval/check-in. You can also undo these changes, or recall the changes submitted. Note Checked-out and checked-in objects are displayed in the Checked-out Objects (ttocm9599m000) session. From the appropriate menu of this session, select Workflow and then select the required action for the business object. Allowed values If the business object is checked out, this field is set to Object status. If the business object is checked in, this field is set to Approval status. Regardless of the object being checked in or checked out, if a description is specified for the Object Type in the Workflow Information Fields (ttocm0106m000) session (which is displayed as a tab in the Object Types (ttocm0102m000) session), this field always displays the value of the appropriate Description field. Note For more information on setting up and using ION Workflow for business objects in LN, refer to the Infor LN Content Guide for Infor ION guide at Infor Xtreme. Related topics Workflow status process Approved If this check box is selected, the approved transactions are posted to the Financials and processed for interim results. Revenue and Cost Posted If this check box is selected, the revenues and costs are posted to the Financials and processed for interim results. Balance Posted If this check box is selected, the balance is posted to the Financials and processed for interim results. Revenue and Cost Reported Completed Indicates whether the revenue and cost posting is reported complete. Balance Reported Completed Indicates whether the budget balance posting is reported complete. Origin The origin of the interim result type that helps distinguish between generated and manually inserted results. Allowed values Interim Result Origin Text The related text for the interim result. Alternate Results Finalized If this check box is selected, LN indicates that the alternate results are processed and the results cannot be modified. Cost Control Period The year in which the transaction must be posted to the history for cost control. The default value of this field is the year of the date of input's cost-control period. / The period in which the transaction must be posted to the history for cost control. The default value of this field is the date of input's cost-control periods. Financial Control Period The fiscal year in which the transaction is posted to Financials. / The period in which the transaction is posted to Financials. Last Modified by The user who last modifies the record. Description The description or name of the code. Last Modified on The date when the record is last modified. Approver The name of the approver. Description The description or name of the code. Approval Date The date when the approval is made. Rate Date The date when the currency exchange rate is valid. Rate Date The date when the currency exchange rate is valid. Currency Rate/Rate Factor The currency rate to convert the transaction currency to the home currency. Rate Date The date when the currency exchange rate is valid. Rate Date The date when the currency exchange rate is valid. Base for Profit Percentage The basis for calculation of profit percentage. Percentage of Completion The percentage of completion of the project/contract. You must multiply this percentage with the contract amount to calculate the revenue to be recognized. Earned Revenue Factor The Earned Revenue Factor. You must multiply this factor with the cost to calculate the revenue to be recognized. Profit Percentage The profit percentage. The COGS is calculated on the basis of this percentage and the revenue recognized. Registration Date The registration date of the record. Text If this check box is selected, a text is present. Run Date The execution date of the processing run. Run The sequence number generated when the Process Transactions (tpppc4802m000) session is run. Run Date (Report Completed) The date on which the processing run is completed. Run Sequence No. (Report Completed) The sequence number generated after the processing run is completed. The number is system generated. Extension The code that identifies the extension linked to the project. Description The description or name of the code. Element The code that identifies the element. Description The description or name of the code. Activity The code that identifies the activity. Description The description or name of the code. Sequence The sequence number code. Revenue Recognition by The level at which the revenue recognition settings are defined, such as contract, contract line, or project level. Revenue Recognition Method The Revenue Recognition Method. Costs of Goods Sold Method The costs of goods sold method used for the project. Calculation Method The method to calculate the percentage of the work completed. Revenue Recognition Threshold The minimum percentage completion expected before revenue is recognized. Note Only if the percentage completion is greater than or equal to this field, revenue is recognized when interim results are generated using the Generate Interim Results (tpppc3250m000) session. However, if the Profit Percentage is negative, revenue will be recognized irrespective of minimum percentage completion being met or not. Revenue Recognition Limit The limit on the revenue to be recognized. Note The revenue recognition limit is valid for all RR methods except the Completed Project method. The percentage times the contract amount gives the maximum revenue that can be recognized (until the completion of the project). This percentage is ignored when the project is complete and the final revenue (and COGS) is posted. Contract Amount The total contract amount. Billed to Customer The WIP balance of invoices sent to customers. Expected Revenue Expected revenue for the project/contract. Forecast Additional Revenue The revenue which is over and above the project/contract amounts. Budgeted Amount Budgeted amount for the project/contract. Budgeted Hours The number of budgeted hours for the project or contract. Unit Code for Hours The time unit in which labor is expressed. Cost Incurred The costs incurred for the project/contract. Approve Approves the interim result. Approved Results Displays all the approved interim results. Unapproved Results Displays all the unapproved interim results. All Results Displays all the results. Unapprove Reverts the approval of the interim results. This option is enabled only when the data is approved. Interim Results Settings View settings by project, contract, and extension. |