Explanation: Box 1: Consolidation company
Eliminations can be reported in multiple ways:
* A separate company can be created and used to manually determine and post elimination transactions. This company can be used in the consolidation process or in financial reporting.
* Elimination rules can be set up in the system.
* The accounts and financial dimensions that are used to determine intercompany activity can be filtered on a row definition or column definition in Financial reporting, and full drill-down capabilities can be used.
Box 2: Financial reporting
There are multiple options for consolidating data:
* Financial reporting – This option enables consolidation of transactions and balances, and can be generated at any time. Multiple levels of hierarchies can be created, and multiple reporting currencies can be viewed.
* Consolidate online – This option consolidates daily balances by the selected accounts and dimensions, and stores them in a consolidation company.
* Consolidate with import – This option imports balances into a consolidation company.
Export company balances
Note: The CEO is considering the acquisition of additional companies in the same countries as the current companies. The consolidation structure may change within the first 90 days of go-live. Margie’s does not want to finalize the consolidation structure for a hard-close at month’s end until this has been finalized.