Use a Weighted average exchange rate based on the covered period of the report (yearly, quarterly)
To better serve global enterprises managing multiple legal entities with different currencies, we propose an enhancement to the Consolidations module. This enhancement will focus on incorporating comprehensive IAS 21 (International Accounting Standard 21) compliance features, specifically the ...
Dashboard to view all intercompany credits, debts, revenues and costs between subsidiaries
During our meeting with a client interested in the Consolidations module, the client suggested the addition of an intercompany dashboard. This dashboard would display all intercompany transactions between subsidiaries, facilitating necessary adjustments during the consolidation process.
For the consolidation process, start each year from the aggregate value of subsidiaries, do not open accounts with consolidation adjustments from previous years
According to international accounting principles, the preparation of the consolidated financial statements for the current year cannot simply be based on the previous year's consolidated financial statements. It is always necessary to start with the financial statements of the individual entit...
Adjustments that should be automatically performed on the bases of input data provided to the Consolidations module
In discussions with our clients, we have identified several automatic adjustments that your system should handle:
- Automatic Cancellation of Shareholdings: Adjust for shareholdings in subsidiaries, accounting for events such as payments, subscriptions, acq...
STATUS DETAILSNew
Allow for budget plans to the distributed and aggregated back when the budgeting hierarchy includes legal entities
My suggestion is to allows budget plans to be distributed and aggregated back when the budgeting hierarchy specified in the budget planning process includes legal entities.
The distribution of a parent budget plan to children ones and their subsequent aggregation back into the...