Database Posting Logic for Unified Financial Regulatory Reporting

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Solution Overview

Problem

Utility providers face challenges in generating accounting reports that require reconciling financial and regulatory data, often leading to discrepancies and increased manual effort due to the need for data replication and separate reporting processes for financial and regulatory accounting.

Innovation Solution

Updating database posting logic to include additional data fields during the posting process, allowing the same line items to be used for both financial and regulatory accounting reports, and enabling real-time cost tracing by adding fields to database line items, thus reducing the need for data replication and reconciliation.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If separate data replication and reconciliation processes are used for financial and regulatory accounting reports, then reporting completeness is improved, but manual effort and time consumption increase

Engineering Contradiction:

Improvereporting completenessVSAvoidmanual effort

Core Design Contradiction:

ReliabilityVSLoss of time

Solution Approach 1:

The patent merges financial and regulatory accounting data into a unified database structure where both reporting types draw from the same source. The system combines previously separate data sets and processing workflows into an integrated architecture, eliminating the need for parallel data replication and reconciliation processes while maintaining both financial and regulatory reporting requirements

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The patent creates a universal data model that serves multiple reporting functions simultaneously. The unified database structure and common data fields are designed to support both financial accounting reports and regulatory accounting reports through a single system, allowing the same data infrastructure to fulfill diverse reporting needs without separate specialized systems

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Adaptability or versatility

If data replication is performed to generate regulatory accounting reports from financial accounting statements, then report generation capability is improved, but data consistency and reconciliation complexity worsen

Engineering Contradiction:

Improvereport generation capabilityVSAvoidreconciliation complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The patent extracts the reconciliation complexity from the reporting process by implementing a unified source system. Instead of reconciling replicated data, the system extracts and uses the original common data directly for both financial and regulatory reports, eliminating the reconciliation step entirely while maintaining the ability to generate both report types from the same data foundation

Inventive Principle:

Principle #2Taking out (Extraction)

3Speed

If financial accounting reports are updated as financial data is obtained, then financial reporting timeliness is improved, but regulatory reporting delays occur due to subsequent reconciliation requirements

Engineering Contradiction:

Improvefinancial reporting timelinessVSAvoidregulatory reporting delay

Core Design Contradiction:

SpeedVSLoss of time

Solution Approach 1:

The patent performs preliminary action by establishing the unified database structure and common data fields in advance, before reporting needs arise. This pre-configured architecture allows both financial and regulatory reports to be generated simultaneously from the same updated data without subsequent reconciliation delays, as the system is already designed to handle both reporting types from a common source

Inventive Principle:

Principle #10Preliminary action

Data Source

PatentUS11567961B2Using flat data input for simultaneous application of multiple separate calculations rule sets to obtain multiple output results

Publication Date: 2023.01.31 COGNIZANT TECHNOLOGY SOLUTIONS US CORP

AI summary

A method may include updating database posting logic to obtain an updated database posting logic that, during a posting process to a database, adds a data field to a new line item being posted via the posting process. The method may further include receiving information from a data provider. The method may further include posting, using the updated database posting logic, the information to the database as a line item including various fields including the data field. The method may further include receiving a request to generate a transactional report. The method may further include using the data field to identify the line item. The method may further include generating the transactional report using the line item.