Financial Consolidation Work Flow
Users of CP – Consolidation are taken through the financial consolidation process step by step. The workflow is divided into various sections from creation of companies, the elimination process and reporting.
Freely Definable Structure
CP – Consolidation provides clear visuals of group structures. Multiple groups and subgroups can be depicted. The financial consolidation progress for each reporting period is visually displayed on each company. Each consolidation period (and scenario) the group structure can be altered for new acquisitions / sales / ownership changes.
Company chart of accounts are freely definable. In addition there are many editable template structures for IFRS and local GAAP reporting. Users of CP Finance can also use the structures already established as part of the integrated financial planning process.
Financial Consolidation Process
After import of each Company's financial statements the financial consolidation steps are carried out. The consolidation steps are:
Unify Currencies
Creation of Aggregated financial statements
Elimination of inter-company investments
Elimination of inter-company liabilities
Eliminating inter-company profit / losses
Calculation of deferred taxes
At each stage of the consolidation, manual adjustments can be made if required. After each step has been carried out, intermediate financial statements are automatically prepared.
Out of the Box financial consolidation reports
CP – Consolidation is a complete out of the box financial consolidation tool. There is a complete set of standard report templates included as part of application. This ensures rapid implementation.
- Consolidated Balance Sheet and Consolidated Profit and Loss Account Consolidated Cash Flow Statement
- Reconciliations on all levels
- Complete lists of postings
- Statements of Changes in Fixed Assets and in Equity, Analysis of Provisions, any additional analyses
- Statistical Details
- Participating Interests
- Notes to the Consolidated Financial Statement
- Segment Reports
- Development of Minority Interests
All Reports are exportable to Microsoft Excel, Microsoft Word, PDF
CP – Consolidation not only produces the statutory financial consolidated returns but it can also be used for many more internal reporting purposes.
Prepare company consolidation simulations, modelling changes in group structure, purchases and sales of different companies etc.
Prepare budget and forecast consolidated figures. Lenders and shareholders require more detailed consolidated figures. Not only can actual consolidated financial statements be produced, but budget and forecast results can also be generated and compared. Import plan data or use the complete link to CP-Finance. The integrated financial planning application ensures rapid consolidation of budget and forecast data all prepared within the single solution.
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