Empowering Financial Excellence: Finance and Treasury Standards and Services
Our Finance and Treasury Standards and Services are designed to support subsidiary presidents under our corporate holding company. Our meticulous stewardship ensures financial stability, integrity, and compliance across borders. Key requirements include:
Policies
Accounts Payable: Vendor Setup and Maintenance
All business units must follow established procedures for controlling the setup of new vendors and maintaining existing vendors in Accounts Payable.
Policy Details >>Capital Expenditures
Strict adherence to procedures for purchasing, maintaining, and disposing of Capital Expenditures/Assets is mandatory for all business units.
Policy Details >>Travel and Entertainment Reimbursement
All business units must comply with the defined allowable expenses for company business and travel reservation requirements, except where prohibited by local law.
Policy Details >>State and Local Sales Taxes
Business units must ensure that applicable sales taxes are charged on individual orders and remitted to the respective taxing authorities as per established policy and procedure.
Policy Details >>Standards
Inventory Costing & Inventory Devaluation
All profit centers are required to use the approved, accurate, and acceptable inventory costing methods as outlined in this standard.
Standard Details >>Unclaimed Property
Business units must comply with the established policy and procedure for Unclaimed Property compliance without exception.
Standard Details >>Fixed Asset Financial Treatment
All fixed assets must be financially treated in strict accordance with the Corporate Standard to ensure accurate accounting and consolidation.
Standard Details >>Procedures
Accounts Receivable Write Off, Invoice Correction and Credit Memo
Business units are required to adhere to the procedures controlling the process for writing off or applying non-cash credits to Accounts Receivable.
Procedure Details >>Services
When you see this checkmark that denotes a Service that is required. While all Policies, Standards, and Procedures are required some services are optional.
Internal Audit and Compliance - Accounting/Tax
Corporate is responsible for planning, preparing, executing, and reviewing internal accounting and tax control mechanisms, policies, and procedures. Business units are required to cooperate fully with these efforts, providing necessary information and implementing recommended control activities.
Service Details >>Tax
Corporate manages the organization's worldwide tax strategy, planning, and compliance. Business units must support these efforts by providing accurate financial data, adhering to transfer pricing guidelines, and cooperating with tax audits and reviews as directed by the corporate tax team.
Service Details >>Corporate Reporting, Consolidations and Compliance
Reporting, Acquisition Due Diligence, Valuations, Onboarding & Divestitures, Consolidations, Annual Audit, Consistency , Budgeting, Strategic Accounting Guidance, SAP Configuration & Support, Statutory Reporting, Financial Reporting, Internal Charges and Allocations, Risk Management, Board Reporting
Service Details >>Accounts Payable
Business units must utilize the corporate Accounts Payable services for all related functions, including invoice processing, vendor payments, tax compliance and reporting, and other specified AP activities. [This requirement excludes non-wholly owned BU's]
Service Details >>Policies
Payment Card Processing Policy
This policy applies to all EBSCO employees, contractors, consultants, temporaries, vendors, and other third-party workers handling payment card information on behalf of ACME or its subsidiaries
Policy Details >>Cash: Petty Cash - Handling and Control of Funds
To define the procedures for the handling of, and control over, petty cash.
Policy Details >>Cash: Incoming Cash, Checks and other Legal Tender
To ensure prompt and complete processing of all collections on behalf of EBSCO.
Policy Details >>Performance Bonds, Letters of Credit and Bank Guarantees
To minimize risk associated with credit backed instruments such as performance bonds, letters of credit and bank guarantees and to afford EBSCO Profit Centers a standard means of acquiring financial instruments to ensure, when necessary, performance on orders and contracts awarded.
Policy Details >>Bank Accounts: Signatories
To standardize bank account signatories throughout EBSCO.
Policy Details >>Standards
PCI 3.2
All subsidiaries taking credit card payments must comply with the Payment Card Industry Data Security Standard (PCI DSS) to protect payment card account data and secure other elements in the ecosystem.
Standard Details >>Cash Management Standard
Our Cash Management Standard ensures proper cash and liquidity management across portfolio companies. It establishes guidelines for separation of duties, fraud protection, and signing authority limitations. This standard aligns cash handling practices with corporate financial goals and regulatory requirements, optimizing cash utilization while minimizing risk.
Standard Details >>Services
When you see this checkmark that denotes a Service that is required. While all Policies, Standards, and Procedures are required some services are optional.
US & International Bank Account Management
Seamless management of domestic and international accounts for optimized transactions.
* FATCA & KYC Compliance Management: Diligent management of compliance requirements, ensuring adherence to regulatory standards.
* Cash Management Standards: Adherence to rigorous standards to optimize liquidity and mitigate risks.
* Account Signatories Management: Oversight of authorized signatories, ensuring accountability and security.
Financing & Debt Management
Our debt management services are required to guide subsidiaries through securing new loans, renegotiating existing debt terms, and coordinating multiple financing sources. This proactive approach mitigates interest rate fluctuations and optimizes financial health.
* Performance Bonds, Letters of Credit, and Bank Guarantees: Facilitation of these financial instruments is required to support contractual obligations.
Credit Cards & PCI Compliance
The PCI Compliance and Reporting service is a mandatory, cross-functional service supported by Finance and Corporate IT Governance, Risk, and Compliance (GRC). This service is essential for all business units to ensure organization-wide adherence to Payment Card Industry Data Security Standards (PCI DSS). It is responsible for aggregating and managing formal attestations of compliance from each business unit, compiling comprehensive annual compliance reports, and collaborating with units during their annual PCI DSS assessments to ensure consistency and thoroughness. The service provides ongoing education about new PCI DSS requirements and updates, disseminating critical information to all business units. It also establishes and maintains standardized compliance processes and documentation across the organization. In the event of a PCI audit, this service coordinates responses and provides necessary documentation. Compliance with this service is mandatory, and any deviations or local practices must be reviewed and approved to ensure they meet PCI DSS requirements and organizational standards.
Service Details >>Bid Package for EIS Support (International)
Researching and gathering specific documents and information to compile for EIS Bid-usually internationally, notarizing and apostiling documents, obtaining signatures required, Financial Stability packages,
Service Details >>Treasury Services (FX)
Our finance team provides required solutions for managing currency exposure and mitigating associated risks in a dynamic global market, including strategic hedging and proactive risk management.
Service Details >>Discipline Experts
