Would you like more time for you and your team to interact with the business adding value, rather than collecting and processing data and maintaining spreadsheets?
For any company that has subsidiaries or associates, group accounting, or consolidation, is a necessary part of the monthly accounting processes. Whether the result is to produce statutory reporting to produce internal management reporting that crosses the entire group, the consolidation exercise is required.
Statutory reporting for submission to the regulators, ultimately for the preparation of a company’s Annual Report, requires the development of detailed financial and non financial information from across the group of companies. This might include your Profit and Loss, Balance Sheet, Cash Flow Statements, to the Notes required to support these statements and the additional information required by each statutory entity, such as Director’s Emoluments, Lease and Debt liability schedules, Segment Reporting either Geographically or by Industry.
From the perspective of managing the overall group of companies, management reporting is probably more important than statutory reporting. Whether it is providing detailed reports supporting the statutory reports for Board consideration, or daily, weekly or monthly reports for all levels of your company, from the senior executives to the profit centre manager.
The group accounting software that helps your finance organization manage the close, consolidation and reporting process. With it you can:
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