Consolidation Implementation – The definitive Checklist
For any Implementation planning is key, for any project planning is key. It is important to ensure that planning is thorough and at a detailed enough level that any specification is complete and unambiguous.
It is equally as important to be prepared for your planning workshops; to plan for your plan so to speak. To that end CFMS have compiled a definitive list of considerations that should be covered in the workshops to ensure that any specifications and plans produced are complete.
Follow on webinar – Streamline your Group Consolidation
24th November @ 11am
The do’s and don’ts when implementing any Consolidation system
Mike Potashnick, Implementation Director CFMS – 15mins
Demonstration – Infor d/EPM Consolidation
John Robson, d/EPM Evangelist, Infor – 20 mins
| 1 | Translating local chart of Accounts to IFRS or IFRS2; Check the Mappings |
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| 2 | Corporate Structure – Ownership and Control; Are these defined? | ||
| 3 | Corporate Structure – Full, Proportional and at Equity consolidation and elimination | ||
| 4 | Corporate Structure – Reporting Currencies | ||
| 5 | Currency Rates: Average Monthly, Weighted Average, Month Closing and Historic | ||
| 6 | Investment valuation of pre-acquisition reserves | ||
| 7 | How does the Financial System manage inter-co transactions; Is the Counterparty/Inter-Company Company recorded on all transactions? | ||
| 8 | Are the opening balances held in the finance system? | ||
| 9 | Revaluation Accounts P&L, Historic to Month Closing | ||
| 10 | Which GAAP does the Group come under and what adjustments are required for your industry? | ||
| 11 | Are there multiple GAAP reporting requirements for different countries? | ||
| 12 | How many reporting currencies are required? | ||
| 13 | Which Schedules are required to support the Financial Statements and where are the movement records held to support the Schedules? | ||
| 14 | Is the business required to produce segmental analysis for Statutory purposes? | ||
| 15 | How do you move from the Statutory Model to the final mile published result? How many changes are likely to be required? |
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