We have formalized a tool that consolidates, within a single file, the justification of key elements for a given consolidation scope, period, and entity-by-entity breakdown:
- Reconciliation from statutory profit to consolidated profit ;
- Reconciliation from statutory reserves to consolidated reserves ;
- Monitoring of equity impact from various types of adjustments ;
- Reconciliation of opening to closing equity balances ;
- Automated validation of foreign exchange differences for the period ;
- Tracking of deferred taxes and their underlying bases ;
- Validation of the tax proof reporting.
The tool is designed so that all the above elements are interconnected, displaying expected data to be compared with current data (prior to updates). When connected to the consolidation software, it enables:
- Significant time savings in visualizing the various impacts that data changes (new assumptions) may have on consolidated accounts ;
- Enhanced control to challenge the automatic treatments performed by the consolidation application, and to adjust system configurations if necessary
Feel free to contact us for more information.
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