Consolidating company accounts dating for dummies book pdf

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You can use the consolidation functionality to combine the financial results for several subsidiary companies into results for a single, consolidated company.

As we have discussed earlier here, Section 129(3) discuss about consolidation of accounts.

Where a company has any subsidiary, the company shall prepare a consolidated financial statement of the company and of all subsidiaries in the same form and manner as that of its own.

In the Currency Exchange Rate Table, you can select the option of using the Local (Parent) or Business Unit (Subsidiary) as the source; alternatively enter the exchange rates from the business unit card as indicated above.

If you use the Additional Reporting Currency (ACY) as the consolidation currency, then you need to run the Adjust Exchange Rate batch job in the consolidated company for the ACY.

Consolidating company accounts