financial consolidation

Financial Consolidation

Reduce the time and cost to complete a close – make it easy to meet global reporting requirements like IFRS and GAAP.

We recommend Oracle Cloud EPM Platform / Oracle Hyperion Financial Management, Infor EPM or IBM Cognos Controller for financial consolidation.

Key Benefits:

Guide and monitor the close from start to finish.
Take advantage of best practice, out-of-the-box functionality for quick deployments, including dynamic calculations, with limited need for customization—cash flow, balance sheet, income statement, rollovers, call-to-actions, and more being automatically calculated
Leverage a strong compliance framework including auditing, segregation of duties, and transparent calculations.
Leverage multi-GAAP driven applications with full currency support, intercompany eliminations, equity eliminations, adjustments, and detailed data tracking.

Flexible Workflow and Process Management that provides enterprise level collaboration with dynamic, data-driven approval orchestration.
Ensure audit compliance for tasks like Journal Adjustment with enforced segregation of duties.
Deploy a fully secure cloud-based application with role and data access rights

Connect to virtually any source ERP applications such as Financials, as well as EPM applications such as Planning and Budgeting, and Enterprise Performance Reporting.
Provide tight Microsoft Office integration for offline analysis and reporting.
Integrate easily with Enterprise Performance Reporting Cloud for narrative reporting process such as monthly, quarterly, and annual performance reports.

Consolidation Specific Features:

Intercompany Eliminations – Includes default intercompany eliminations
Journals with workflow – Includes journal capabilities with configurable workflow
Currency Translation – Default currency translation uses PVA method for flow activities and VAL method for balance activities
Built in Foreign Exchange/Currency Translation Adjustment Calculations – Automatic calculation of foreign exchange on opening balance and movements for each balance sheet account along with automated currency translation adjustment calculation.
Automated Cash Flow Reporting –The movement dimension provides automated cash flow reporting through hierarchies and system calculations that require no further rules.
Multi-GAAP Reporting – Prebuilt functionality includes reporting for local GAAP and IFRS with the ability to add additional GAAPs for reporting.
Detailed Data Source Tracking – Using a dimension for tracking sources of data including data management, journals, intercompany eliminations and manual input.

Oracle examples

Infor example:

Selected Infor EPM functionality
Ask for English version

Selected IBM Cognos Controller functionality
Ask for English version

If you need more information on Financial Consolidation; or if would like to arrange a consultation, please feel free to email info@cogit.pl or call us on +48 22 496 60 00

Financial Consolidation

Key Benefits:

Solutions