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.
The Consolidation dashboard provides a summary of the consolidation process at any point in time. The dashboard uses process charts to guide users through the steps of the consolidation process.
The Monthly Reporting Parameters are defined by the user and feed into the calculations and larger consolidation process.
The world view map allows group level business users to monitor the data collection process. The map view provides colour-coded control and workflow functionalities to indicate each entity’s progress
Consolidate at multiple consolidation group levels seamlessly. You can also manage full consolidation, JV, partial and Equity accounting methods simultaneously.
Pre-built financial statements include BS, P&L, CF and changes in equity. Audit reports for analysis and validation at consolidated level for currency translation, journal adjustments, and consistency of data.
Consolidation Rules consists of Mid FY Step up and Step down scenarios which are integral to calculate goodwill by latest IFRS standards
This contains reports that helps clients adopt a step by step approach to see the differences in GL accounts compared to a previous year
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
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
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
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
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