Webinar: "Key Considerations in Automating Financial Consolidation"

What will we discuss?

Financial consolidation and financial statement preparation is a highly standardized area that lends itself well to automation. However, many projects fail due to lack of understanding of the proper approaches to automating this domain.

What are these special considerations? How does automating financial consolidation differ from, say, budgeting?

Drawing on years of experience, ADE Professional Solutions experts will share insights on the critical nuances that must be considered and properly implemented during deployment.

Webinar Program

We will cover 8 key topics we consider most important, examining the methodological features and implementation practices using CPM systems:

1. Group Structure for Financial Consolidation Automation

• Types of structures desirable for user convenience
• Maintaining the investment register
• Reflecting changes in group structure

2. Chart of Accounts for Financial Consolidation

• Level of detail and hierarchy
• Required account types
• Additional dimensions

3. Intercompany Transactions and Balances

• Approaches to reconciliation and elimination
• Where to track intercompany analytics
• Elimination adjustments

4. Data Collection for IFRS Consolidated Reporting

• Group readiness for accounting system integration
• Alternative data collection methods
• Data collection stages

5. Consolidation Adjustments

• Required adjustment types
• Achieving universal adjustments for any group structure
• Link to investment register

6. Multi-Currency in Financial Consolidation

• Exchange rate types used
• Methodological approaches to reporting currency translation
• Special considerations for intercompany transactions

7. Analytics for IFRS Consolidated Reporting

• Optimal level of analytical detail: selection criteria
• Relationship with individual entity analytics
• Distinction between consolidation and analytical systems

8. Cash Flow Statement Automation

Who should attend?

• Chief Accountants
• IFRS Specialists
• Financial Controllers
• Leaders and team members of financial consolidation automation projects

Why attend?

• Learn what features are often overlooked in automation
• Understand how to develop methodology before implementation
• Know how to avoid mistakes in project planning