Unifying a group's Chart of Accounts can simplify the consolidation process and reduce the need for adjustments.

Unified chart of accounts as a base layer for your consolidation process

Unified CoA for easier consolidation process

Learn about simplifying the consolidation process by collecting data early and unifying group accounting principles.

The consolidation process can be frustrating and time-consuming, with mismatches and illogical results leading to last-minute rushes to meet reporting deadlines. To make the consolidation process less painful, it may be helpful to start collecting data earlier and unifying group accounting principles.

How to make consolidation process less painful?

As a CFO or head accountant, focus on intra-group reconciliation to prevent errors in consolidation. Avoid last-minute stress by planning ahead.

As a group’s CFO or head accountant, who has to deal with consolidation, you know that the walls of the consolidation house are mainly built from intra-group reconciliations. Differences in balances lead to a wonky roof! And what a nightmare it is to solve those errors when a reporting date is twinkling in your calendar…

Reconciling intra-group transactions - a horror house for a CFO

Reconciling intra-group transactions

Financial consolidation in accounting: basic tips and rules for beginners. Make the process smoother with these guidelines.

This is about preparing financial consolidation in accounting. Haven’t done it before? No problem. It’s not that difficult as you think it is. Yet there are some general rules to keep in mind. Here are some basic tips and rules for the beginner.

How to consolidate and check your work later? 10 things to think about.

10 tips for consolidating and reviewing your work

Financial planning and consolidation: use spreadsheets or financial software for faster, more efficient reporting. Choose wisely for best results.

When considering financial planning and consolidation, there is a choice between using spreadsheets or financial software. Spreadsheets are easy to use and suitable for small consolidations, but may not be suitable for large consolidation groups and can be time-consuming. Financial software can make the financial reporting process faster and more effective, but may not be effective if used only once a year or if the additional value is not seen.

Spreadsheets vs financial software

Tips for improving financial reporting accuracy and speed. Use automation and clear communication to streamline the process and overcome fear of change.

There are roughly two types of companies when it comes to reporting financial results: those with a delay of 2-3 months, and those that report within two weeks. To improve financial reporting, consider factors such as resources, accuracy, and the way of thinking about the process. Automation and technology can streamline the process and clear communication can improve accuracy. Overcoming fear of change and considering how to improve the process can lead to timely financial information.

Hey CEO! Do you know your financial results already?

End-of-year financial statements and consolidated statements for groups. Consider the value of consolidation for planning and understanding your business.

Compiling annual financial statements, including consolidated financial statements for groups, is a common task at the end of the financial year. While consolidation may be required by law or demanded by banks, it can also serve as a useful tool for planning and understanding a business. Here are some tips for considering the value of consolidation.

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Unified chart of accounts as a base layer for your consolidation process

How to make consolidation process less painful?