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.
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:
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Madiba Active – PM’s handout for SAP S/4 HANA conversion Webinar M007