Consolidated financial statements

Efficient group consolidation is a basic prerequisite for the targeted management of a company. Against the backdrop of increasingly complex and international corporate finance, the demands on group consolidation are also constantly rising. Similarly, the steadily increasing external and internal demand for information and the intensifying competition for capital on international financial markets mean new challenges for the preparation of consolidated financial statements.

Quality features

Therefore, even companies that have already implemented fast close processes and prepare monthly consolidated financial statements are permanently challenged to improve their consolidated financial statement preparation both on the process side and on the system side. In addition to further shortening closing times and increasing the quality of the financial statements, modern consolidated financial statement preparation must fulfill the following quality characteristics in particular:

  • Implementation of an end-to-end process "individual financial statements - intercompany clearing - consolidation - group reports - publication" to increase data quality and shorten the overall process.
  • Integration of internal and external accounting to ensure consistency of financial and controlling data (matrix consolidation).
  • Automate all close processes to increase data quality, reduce costs, and ensure service level agreements for close generation.
  • Enable efficient reporting by automatically generating cash flow statements, segment reports, statements of changes in equity, and appendices
  • Use of standard software to support the specialist department in complex issues such as intercompany clearing, investment controlling and capital consolidation.
  • Support of different accounting, organizational changes and creation of subgroup financial statements in local currency to enable easy and flexible customization of the consolidation application.
  • Ensure compliance requirements are met to mitigate risk.

We support you in achieving these goals. Our teams of experts combine up-to-date accounting expertise with comprehensive technical knowledge of the leading software products for preparing consolidated financial statements. The optimization of financial statement processes, the implementation of systems for the preparation of consolidated financial statements as well as external and internal reporting are among our core competencies.