Multi-entity accounting in practice
Many local groups hold several entities for tax, regulatory or historical reasons, and consolidate them once a year in a spreadsheet. This paper covers continuous consolidation, automatic intercompany elimination and Schedule III reporting without the annual scramble.
A group that can only see itself once a year is managing eleven months blind.
Overview
Many local groups hold several entities for tax, regulatory or historical reasons, and consolidate them once a year in a spreadsheet. This paper covers continuous consolidation, automatic intercompany elimination and Schedule III reporting without the annual scramble.
You'll learn how to
Consolidate multiple entities and currencies continuously
Eliminate intercompany transactions automatically
Produce Schedule III compliant statements on demand
Report by segment, geography and cost centre
Key takeaways
- 1
Annual consolidation hides problems for up to eleven months.
- 2
Intercompany elimination is where most manual error originates.
- 3
Per-entity software charges make group reporting needlessly costly.
A group that can only see itself once a year is managing eleven months blind.