‘As Is’

Revenue-Process Over View

Start

Revenue -Generation & Recognition (Page 1 & 2)

Performed by : Finance Team
. Approval for Expense
SUN
. Recognition of Income
. Approval of Financial Controller
.Financial Controller approval for generation of Fixed Deposit
. Recognition of Fixed Deposits Interest Hilton
Portal
Process Over View

Revenue -Billing (Page 3)

Performed by : Finance Team
. Timely Submission of Invoices
.

Revenue -Collection (Page 4)

Performed by : Finance Team
. Posting of True-Up entries SUN
. Approval of Financial Controller

END

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India Corporate office Revenue 2020
Revenue Generation & Recognition-Cost Plus Mark Up

Financial Controller ensures

Department

on monthly basis all the

Submits expense
adjustments identified in
invoices
User

Income calculation sheet is

START (employee/vendor)
posted before the month end
to the Finance
and invoice is prepare on
Team
Cost plus mark up basis and
duly accounted in the system

Validates the Income

Extracts the affiliate bills
department wise Calculation Sheet Journal Voucher is
Finance Team

from Hilton Global

expense balances is prepared posted
Portal for expenses
with the Trial As per approved As per income
allocated to India Entity
Balance Cost+Mark Up % calculation sheet

Post invoices into Sun Department- wise

system and sends copy expenses are
Yes Prepares the
of JV for review extracted
No invoice
Yes

No

Receives and
reviews the
Income
Finance Controller

JV approved ?
Calculation Sheet Is it
approved?
A

Reviews and approves

the JV received from
Finance Team

Verifies and
approves the
invoice and JV
India Corporate office Revenue 2020
Billing

Monthly Tracker is prepared

for invoices generated
A
Finance Team

during the month (including

reconciliation with debtor Share approved
balances as per Sun)
monthly invoice
tracker along with
NO invoices with
Treasury Team
A

YES
Finance Controller

Receives and verifies the

tracker for timely recording
Is is approved?
of invoice and submission
to customers

BC.3.1 BC.3.2 BC.3.1 BC.3.2

3
India Corporate office Revenue 2020
Collections

Sends “Foreign
HSBC

C Inward Remittance
Payment received
Certificate” (FIRC)
to Hilton India

Payment and foreign

Sends the entry
exchange fluctuation
FIRC is received Is payment voucher with Documents are
YES entry is posted (in case END
Via email correct? supporting to filed
of short/excess post
Finance Team

Finance Controller
revert from US team)
SUN
NO

Intimation is sent
to US Treasury
Team for excess/
short payment
received

NO
Controller
Finance

Reviews the entry Is entry YES

voucher along with voucher
supporting approved?

BC.3.4
BC.3.4

4
India Corporate office Revenue 2020 Fixed Deposits

The interest income on FD is

recognized at the time of Maturity/
Start Termination/Renewal or end of
Once RoI is
An email is sent to confirmed FD Acknowledgement Financial Year, which ever is earlier.
Finance Team

HSBC to confirm creation letter is is received and

rate of interest sent to HSBC via Investment (FD) is
e-mail booked and sends
JV for review
Funds to be
Monthly
invested (FD) is
Finance
determined basis
Closure
of monthly cash
Process
flow statements

No
Once FD is
Rate of interest is
HSBC

created HSBC
confirmed via
sends FD advise
email to Hilton
to the Finance
Finance Team
Team

Yes

Is JV
Finance Controller

Review the FD approved?

value and finalize
the value and term
of investment

Reviews and
Financial Controller on the approves JV
basis of payment cycle, created into
determines the amount to be System basis of
invested as Fixed Deposit FD Advise
(FD) with HSBC.
Process Flow Legends

Start/End Terminal Key Control

Non Key Control

Process Step/Key
control

Risk cross -Reference

Process Step/ Non

Key control

On/Off-Page
Connector
LEGENDS

Reference to other
process Database/System

On-Page Documents
Connector (Excel , E-mails etc)

Electronic Audit Evidence

EAE (EAE)

Direction of Flow

KAC Key Application Control

Yes Yes/No Decision

Financial Design Gap

No

Data File (Data

Feed/File from Operational Design Gap
system)