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In order to respond to the shareholders’ and financial markets’ demand for better and detailed financial information at group level within ever shortening deadlines, the optimisation of the consolidation process is a must for successful group reporting, and it might have an impact on your entire finance function.
Furthermore, consolidation teams are under pressure from the changing business and financial environment, with mergers and acquisitions, evolving accounting frameworks and increasing regulatory demands.
To master consolidation, management must consider every aspect: accounting policies, processes and organisation, the right tools and regular staff training. Outsourcing may also sometimes be considered.
- Consolidation accounting
- Consolidation organisation & processes
- Methodology, tools of consolidation
- Selecting & implementing softwares
- Trainings & workshops
- Outsourcing & hands-on support
Consolidation accounting
- We write group accounting manuals (in IFRS, Hungarian Accounting Standards or US GAAP) plus group consolidation and reporting manuals.
- We assist set up consolidation accounting entries, including elimination entries.
- We help define your consolidation scope and advise on complex transactions.
- We help you understand and monitor the full accounting impacts of your acquisitions, assisting in the analysis of share purchase agreements, in the purchase price allocation exercise, as well as in the integration of newly acquired entities.
- We help identify the differences between certain accounting frameworks (such as IFRS and the Hungarian Accounting Standards) and determine the necessary accounting adjustments required for consolidation.
- We assist you with the preparation of special purpose combined financial statements.
Consolidation organisation & processes
- We can run a powerful Finance Diagnostic on your current processes, systems and organization.
- We help you design, construct and implement consolidation processes as well as manage the change.
- We help make your closing and consolidation processes more efficient.
- We help make your intercompany reconciliation procedures more efficient.
- We help you align your group’s consolidated internal management reporting to your external consolidation reporting.
Methodology, tools of consolidation
- We assist you design your group reporting package so that all the information needed to prepare your consolidated financial statements is easily accessible.
- We help you automate consolidation processes and optimise your costs.
Selecting & implementing softwares
- We can give you a comprehensive benchmark analysis of existing consolidation software.
- We can analyse the functional requirements, describe the consolidation business cycle and identify what information you need.
- We can advise you in selecting the right software and implementing it.
Trainings & workshops
- We offer a curriculum of basic and advanced courses on consolidation, IFRS and US GAAP.
- Our experts can design in-house training and workshops tailored to your exact needs.
Interested in trainings & workshops on consolidation, IFRS or US GAAP?
Visit PwC's Academy website.
Outsourcing & hands-on support
- We can provide skilled people to help you manage it and prepare your consolidated or special purpose combined financial statements, including required disclosures.
