CONSOLIDATIONS

Consolidations provide a quick and complete way to combine the financial records for a number of entities within an organization into one consolidated set of financial statements.

Consolidation streamlines the monthly review process, giving an immediate financial summary for the multi-entity organization and providing complete flexibility to account for subsidiaries. Additionally, proportional consolidation allows consolidation of partly-owned subsidiaries based on the percentage of the subsidiary owned by the parent entity.

VALUE AND BENEFITS

The primary value you will receive from Consolidations is improved accuracy and operational efficiency during the consolidation process. It provides quick and complete consolidation processes with dynamic and flexible corporate reporting to meet the needs of your business.

Supports dynamic corporate reporting — supports critical business decisions with easily accessible consolidated financial data.

Provides flexibility for consolidation hierarchies — create multiple unique consolidation hierarchies for reporting and what-ifs.

Allows drill down to detail — a single click takes users from summary consolidation account activity to detailed transactions.

Improves operational efficiency — reduces paperwork, manual transactions and errors by automating consolidations.

Supports multiple layers of consolidation — simplifies consolidation at regional or corporate levels.

Provides consolidated or aggregated results — allows analysis of potential results prior to period close.

Manages currency exchange rate variations — automatically translates currency based on rates according to company and regulatory rules for fast, accurate reporting.

KEY FEATURES

  • Multiple consolidation approaches provide flexible consolidated financial reporting, including simulations
  • Fully supports consolidation currency translations
  • Supports COA translations
  • Supports GAAP isolation
  • Supports currency translation and cumulative translation adjustment (CTA)
  • Supports performance to currency analysis
  • Supports multiple consolidation hierarchies with multi-level consolidation, allows changing consolidation hierarchies as needed
  • Allows subsidiary entities to be part of multiple consolidation hierarchies to support parallel needs, such as statutory consolidated view, a management consolidated report per region, and different management consolidated reports by business line
  • Allows retroactive consolidated reporting for comparison purposes
  • Combines GL and non-financial details for detailed analysis
  • Consolidated spot reporting supports reporting at any time during the period
  • Drill down from the consolidated reporting view to source transactions
  • Supports inter-company eliminations by tracking intercompany transactions
  • Supports proportional consolidation
  • Provides fast balance-level consolidation
  • Supports accounting layer consolidation
  • Supports pre-consolidation simulations to evaluate results prior to close