Financial Consolidation

Why the need for financial consolidation?

The needs and requirements for an “Integrated end-to-end Financial Close and Reporting Solution” are ever increasing. According to the US GAAP, an enterprise is required to consolidate all the subsidiaries for which the parents control over 50% of the voting interest.  The parent and its subsidiaries are treated as one management and one economic entity for financial reporting purpose. Per SFAS 94, this includes domestic, foreign, similar, and dissimilar subsidiaries.

Streamlining Financial Consolidation in BPC

Madiba Inc. solution for Financial Consolidation automates and streamlines financial consolidation activities to support a faster close while providing improved regulatory compliance.
The SAP Business Planning and Consolidation solution (BPC) is a critical component of SAP’s EPM (Enterprise Performance Management) portfolio enabling enterprises to consolidate financial information based on the respective accounting standards such as US GAAP, IFRS, etc. This allows the enterprise to report its financial data accurately, timely and consistently.

Legal Consolidation

A key objective for the Legal Consolidation system, to be implemented, is to automate the Legal Consolidations process. Utilizing a SAP BPC based consolidation solution will greatly reduce the amount of manual effort required.

Business Process Flow functionality is utilized to provide an actionable, repeatable framework to guide and track the legal consolidations process. Steps in the process would include, at a minimum, the following:

Drilling down the steps for legal consolidation process

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