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.

What happens after Legal Consolidation?

Once the Legal Consolidation (LC) process is completed, the LC data (i.e. “Single Truth” concept) will form the baseline for the Management Reporting (MR) model for further and in-depth market and product categorization and analysis.

Our objectives

Present financial results by site on a management basis Adjusts revenue and COGS to reflect third party results Allows for segment and market allocation if needed Record Non-GAAP adjustments Balance sheet allocations

Process

The process commences with journal completion and allocation in the Management Reporting (MR) model. Upon completion of Journals and Allocations in the Management Reporting (MR) model, the results can be locked and released for analysis and reporting purposes by both corporate and local legal entities. As the MR model and data are based on validated Legal Consolidation results, data accuracy and consistency in analysis and reporting is ensured.

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