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The groups of individual companies involved in a consolidated financial statement is referred to as the ‘consolidation group’. Since a group can consist of multi-level inter-related companies, several consolidation groups, which combine the respective subgroups, may exist in one group.
For example:
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Depending on the implementation scenario of FlexFinance, various ways of consolidation procedures are supported.
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In case FlexFinance imports general ledger account balances from different companies, it can map these general ledger accounts to a consolidated chart of accounts depending on a definable rule set.
This concept mainly covers the following topics:
- Consolidation
Parameterisation of consolidation, information required at individual deal level (data mart L3)
- Reporting standards / data sets L3 and L6 / DataMart Handlers
- Consolidated reports
Data generation at company level, access to the consolidated level, itemisation and manual editing of reports
Reference periods