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Dsfinance — Decision Support for Financial Planning

  • Hermann Locarek
  • Carl-M. Preuß
Part of the NATO ASI Series book series (volume 61)

Summary

Management of financial resources is one of the key managerial tasks of a company. Models used for planning in this application area must be of a high complexity, because corporate finance is influenced by many decisions in other corporate areas. This paper describes an ongoing project within the context of the faculty computer pool. The project integrates preplans from other corporate areas into a central decision support system to support the financial planner in his planning task. The prototype system under development provides a menu driven user interface on a personal computer, that makes use of decentralized information, sophisticated forecasting methods, and centralized knowledge about financial dependencies within the company. The system uses information that is either given by external sources, naive forecasting and explicit forecasts associated with every position in the company’s accounting scheme. Financial indicators are generated either automatically or by request of the user. The indicators are displayed as numbers, various types of business graphics output or time series. Warning levels can be generated and measures of deviation applied to show financial indicators that are below their respective goal values. Scenario-oriented deterministic simulation is used to simulate the consequences of financial decisions. The hierarchic nature of the multiple dependencies allows “what if?”- and “how to achieve?”-questions answered by prolog-style forward- and backward-chaining mechanisms. Currently problems are found but not solved automatically via stochastic simulation or optimization. The system is written in Pascal and uses well known personal computer spreadsheets and databases, and the company’s general ledger system as data source which may be distributed throughout the computer pool’s local network.

Keywords

Cash Flow Financial Planning Income Statement Financial Indicator Forecast Procedure 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1990

Authors and Affiliations

  • Hermann Locarek
    • 1
  • Carl-M. Preuß
    • 1
  1. 1.Faculty of Economics and Social SciencesUniversity of AugsburgGermany

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