Corporate groups with one or more subsidiary companies need to consolidate their financial results periodically. Under IndAS & IFRS, consolidation of even the associate companies is required. Many times, group companies have disparate accounting platforms which make financial consolidation difficult. Also, large systems do not make monthly consolidation or experimenting with what if scenarios easy.
Penta Consulting uses eConsolidate, a cloud hosted Financial Consolidation platform, which allows such groups to benefit from getting an application for easy consolidation of accounts. Adjustments for inter companies balances, minority interests, foreign currency conversion and presentation in IndAS formats and the new IFRS formats for Balance Sheet, Operating Statement and Cash flow statements & XBRL outputs.
The application allows consolidation of a combination of different company accounts in a level-wise rollup format making it possible for partial consolidation or what-if scenario mapping. It allows for financial consolidation of unlimited number of group companies. Branch accounts, site accounts, project accounts are handled with equal ease, accuracy and convenience.
With proper audit trail, secure environment, attachment of disclosures, accounting policies and accepted reporting formats, the eConsolidate application offers great convenience and terrific value.
Offered online, this application removes the barriers of time and geography, allowing users to upload, process and review data and reports anytime-anywhere in a secure 128 bit encryption environment.
eConsolidate is part of the eGovern suite of solutions aimed at corporate financial reporting, regulatory compliance, business risk assessment & mitigation.
For further enquiries mail to firstname.lastname@example.org
Link to www.egovern.in