Finance and Accountancy Briefing

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Essentials of Financial consolidations


Financial consolidation is growing in importance because of factors like globalisation and the popularity of mergers and acquisitions. In the past, it was mainly of interest to large multinational companies that were publically traded and had sophisticated requirements, but now it is not uncommon for a mid-sized company to own several legal entities in different states or countries.

Although such a company's financial consolidation requirements may not be very complex, producing a set of consolidated accounts is a process that, done in spreadsheets, can be very time consuming and prone to error. There are now various financial consolidation solutions that can streamline and add value to existing processes and systems.

This paper provides insights into the role of financial consolidation, how to produce a set of consolidated accounts and how to simplify the consolidation process.

Tags: Financial Consolidation, Consolidation.

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