Financial Consolidation

mark_godfrey
Super Contributor
Financial consolidation is riddled with complexities across multiple legal entities, account structures, intercompany eliminations, currency translations, and changing regulatory requirements. With Anaplan for Financial Consolidation, you can speed the financial close with a single platform that connects across your statutory and management reporting, budgeting, planning, and forecasting processes, all while complying with IFRS standards.
Producing robust, compliant financial statements doesn’t have to take weeks. Anaplan’s Financial Consolidation app allows publicly traded companies to increase the speed and accuracy of closing monthly, quarterly, and annual accounts while complying with IFRS accounting standards.

 

Features

Consolidation & Process Management
  • Consolidate at multiple consolidation group levels Manage full consolidation, JV, partial and Equity accounting methods simultaneously
  • Monthly reporting initialization: Set parameters for versions, periods, balance carryforward, resetting of workflows
  • Defining consolidation scope: Schedule to set consolidation methods (e.g. full, proportionate, holding, etc.) and ownership rates
  • Exchange rate setting: Entry schedules for exchange rate (opening, closing, avg. rates, YTD avg.)
  • Tax rate setting: Entry schedules for tax rates entry by country and organizational unit
User Controlled Data Entry
  • Trial Balance upload: Upload mechanism for complete Trial Balance with embedded mapping functionality
  • Enter manual adjustment and restatements: Input schedules for manual adjustments or restatements to Balance Sheet and Income Statement (periodic and YTD)
  • Fix control check errors: Dashboard with pre-defined validations checks on data upload and manual data entry
Intercompany Matching
  • Load/enter intercompany transactions: Load mechanism and entry schedule for intercompany transactions
  • Review intercompany matching reports: Pre-built reports for intercompany matching of Balance Sheet and P&L
  • Adjust Intercompany matching differences: Input schedules to manually adjust for IC differences
Journals
  • Enter/validate/submit Journals: Input schedules for journal entries with pre-built validations and submission workflow
  • Consolidate at multiple consolidation group levels seamlessly
  • Manage full consolidation, JV, partial and Equity accounting methods simultaneously
Consolidated Reporting
  • Local BS/IS/CF Statement: pre-built BS/IS/CF reports in local currency
  • Consolidated BS/IS/CF Statement: pre-built consolidated BS/IS/CF statements (balances and flows) and change in equity statement
  • Audit reports: pre-built reports for FX analysis, Journal and RU analysis of consolidated balances, audit trails of consolidated balances
Step Up – Step Down Scenarios and Automated Journals
  • Deloitte Financial Consolidation app caters to complex business environments where there are multiple M&A scenarios in between financial calendar
  • Automated consolidation rules have been set up to cater to complex situations like month on month ownership changes
ALM Ready & Model Optimization
  • Deloitte Financial Consolidation app is an ALM ready app with project-ready and deployable readiness where in multiple environments – Dev and Prod can be handled
  • This is crucial as there are on-going fixes that need to be incorporated while the production environment is live, with no changes to Prod environment while those fixes are being made
  • This app includes an optimised version of the base model with significant space savings in the model size ensuring faster processing time of Processes like Journals posting and loading of TB data and faster opening and synchronisation of reports
Multiple Hierarchy Reports
  • Deloitte Financial Consolidation app provides the ability for clients to have reporting across Multiple Hierarchies
  • Clients have the need of having different hierarchies for management and statutory reporting perspectives – app provides the ability to create Management and Statutory Reports for different hierarchies with both the reports being independent of each other
Step by Step Drill Down Reports
  • Deloitte Financial Consolidation App contains reports that helps clients adopt a step by step approach to see the differences in GL accounts compared to a previous year
  • Users in a single DB, can drill down to multiple reports to identify what are the main sources of differences – including type of journal, GL account details and also Entity
  • Different hierarchies with both the reports being independent of each other

Information

Size
1.45 GB
Language
English
Terms & Conditions

App stats

Modules
170
Roles
6
Formulas
Contact Provider
Reports
94
Complexity
Master

Deloitte

Deloitte provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including 70% of the Fortune 500. Our people work across more than 20 industry sectors with one purpose: to deliver measurable, lasting results. We help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society. As a member firm of Deloitte Touche Tohmatsu Limited, a network of member firms, we are proud to be part of the largest global professional services network, serving our clients in the markets that are most important to them.

Website
http://www.deloitte.com.au
Address

Deloitte

225 George St

Sydney, New South Wales 2000

Australia

 

Email
jmakins@deloitte.com.au