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Imagination at work
GE Capital TreasuryCDP Internship OverviewBrady Boyer
GE Proprietary Information—Class III (Confidential) Export Controlled—U.S. Government approval is required prior to export from the U.S., re-export from a third country, or release to a foreign national wherever located.
2 05/03/2023
Brady Boyer
Back
grou
nd
CDP Intern – Treasury
eFinance Team Manager: Lou
RodriguesJune 1 – August 7,
2015
Wha
t I’v
e do
ne a
t G
E
Inte
rnsh
ip P
roje
cts
Education• Penn State University • MAcc Program (Accounting and Finance) Personal• Hometown: York, Pennsylvania • Have a younger brother in the Navy • Living in 101 Park Place this SummerHobbies & extra-curricular• I enjoy playing sports; played Soccer an Volleyball
in HS • Favorite sports teams: Penn State, Steelers, Heat,
Flyers • Watching TV and movies Summer activities
• Played on a GE Capital summer league soccer team
• Volunteered at Treasury Patio Picnic, Health Ahead Day
• 2nd Place in Treasury Volleyball Tournament (at Picnic)
• Attended the Treasury Beach day• Bowling and mini-golfing with the CDP’s• Went to the Belmont Stakes with fellow Interns • Went to a Yankees game with CDP’s• Volunteered at habitat for humanity, and soup
kitchen• Studied for the business section of my CPA exam• 1st Place in Volleyball Tournament (Health Ahead
day)
eFinance reportingCompleted
Activity monitoringIn progress
Limit booking errorsNot started
3 05/03/2023
eFinance and reporting simplification
Project Overview: • Look for ways to simplify the statutory
reporting process and time by reducing unused ledgers
Key Steps:• Identified statutory ledgers • Found the domicile country for each
BLE and compare to the statutory ledger • If country of domicile matches one of
the statuary ledgers then the ledger is needed for that BLE and reporting process is unchanged
• If the country of domicile doesn’t match one of the statuary ledgers, then we perform additional analysis (see next slide)
Business impact: • By reducing the number of statutory
ledgers we can simplify ledger structure, reducing potential number of manual journal entries, and reduce reconciling efforts
Project Overview: • Build processes to monitor both
Treasury activity being recorded to LE 001 and total GECC balances
Key Steps:• Used Discoverer to build reports for
each of the GE Capital business units • Tied each of the business units back to
ACE (consolidated ledger) to ensure accuracy of reports
• Create a monitoring process• Use the created process to monitor
transactions booked as a result of Project Hubble
Business impact: • Ensure that transactions booked as a
result of Project Hubble occur accurately, and to the proper accounts.
Project #1: eFinance reporting
Project #2: Activity monitoring
Americas
Asia
EMEA HQ
Treasu
ry
Real E
state
GECAS
EFS
ACE0%
40%80%
Percent complete
Started
Remain
ing
Remov
ed0
1020 25
15 10
Capital statutory ledgers
4 05/03/2023
Decision process for removal of statutory ledger
Look to see where balances are located
Yes No
Are entered balances on P/L
activity?
Are entered balances on balance
sheet activity and retained earnings.
Can be removed.Follow up with controllers to
confirm ledger is not needed.
Ledger can be removed.
Are their current entered balances?
If multiple ledgers contain balances.
If only Statutory ledger contain
balances.
Ledger can be removed.
5 05/03/2023
eFinance and reporting simplification
Project Overview: • Look for ways to simplify the statutory
reporting process and time by reducing unused ledgers
Key Steps:• Identified statutory ledgers • Found the domicile country for each
BLE and compare to the statutory ledger • If country of domicile matches one of
the statuary ledgers then the ledger is needed for that BLE and reporting process is unchanged
• If the country of domicile doesn’t match one of the statuary ledgers, then we perform additional analysis (see next slide)
Business impact: • By reducing the number of statutory
ledgers we can simplify ledger structure, reducing potential number of manual journal entries, and reduce reconciling efforts
Project Overview: • Build processes to monitor both
Treasury activity being recorded to LE 001 and total GECC balances
Key Steps:• Used Discoverer to build reports for
each of the GE Capital business units • Tied each of the business units back to
ACE (consolidated ledger) to ensure accuracy of reports
• Create a monitoring process• Use the created process to monitor
transactions booked as a result of Project Hubble
Business impact: • Ensure that transactions booked as a
result of Project Hubble occur accurately, and to the proper accounts.
Project #1: eFinance reporting
Project #2: Activity monitoring
Americas
Asia
EMEA HQ
Treasu
ry
Real E
state
GECAS
EFS
ACE0%
40%80%
Percent complete
Started
Remain
ing
Remov
ed0
1020 25
15 10
Capital statutory ledgers
6 05/03/2023
Process of creating discoverer reports Add desired items to the report
Create conditions to present only desired data
Full list of conditions Ensure consistency among all reports
7 05/03/2023
What I’ve learned this summer• Different types of ledgers (local, reporting,
statutory)• Complexities around financial reporting in a
multinational corporation • Mass amount of data GE is required to store