You may also be interested in:
Data and Records Consolidation
ALP Group has been successful in handling corporate data consolidation projects using the «1C: Consolidation» platform.
Primary goals of data consolidation:
- obtaining operational and financial information on the activities of various business units;
- preparation of management records and reports based on data found in various information systems;
- conversion of records prepared under one set of standards, records based on other standards (RAS, IFRS, US GAAP, management accounting);
- consolidation of management, business and international records and reports;
- financial analysis of data from separate and consolidated records and drawing conclusions regarding the current and predicted financial condition of business units and the group overall.
Technically, the consolidation of data is as a rule carried out by uploading the data to the “1C: Consolidation” system from the business and commercial accounting systems, with further calculation of current indicators. “1C: Consolidation” also calculates target indicators.
As a rule, standardization of business and current (commercial) accounting systems is carried out prior to attempting any data consolidation projects.