what is consolidation process?
Consolidation is the period-end process of combining the financial results of separate subsidiaries with the parent company to form a single, combined statement of financial results.
Or in short ..
"Consolidation is the process of transferring the data from ‘one ledger’(subsidiary) to another ledger (primary)."
The typical consolidation process includes eight steps,
1. Defining Consolidation Charts of Accounts
2. Mapping Consolidation Data
3. Preparing Consolidation Data
4. Transfering Consolidation Data
5. Posting Consolidation Data
6. Creating Eliminating Entries
7. Reporting on Consolidated Balances
8. Analyze Consolidated Data
Is This Answer Correct ? | 1 Yes | 0 No |
what is the use of accounting flexi field in accounting title in key flexifield segments
What are mandatory steps for payable module before entering transaction ?
What is Zero-Payment in AP
why we have to reverse the journal entries after Revaluation?is it mandatory if why?
What are the various Implementation method for oracle apps
if you are not having a cashmanagement module how to reconcile or how to clear the transactions?
i have defined currency rates for the month of june translation purpose and june period is opened but in translation form i have seen periods from july why it happend could u please explain
explain about summary account with an example?
What is the difference between Oranisation ID and Org. ID. Is both are same?
What is the Process of Reconciliation Between AP to GL
what us auto accounting rule?
What is difference between debit memo and credit memo?