Consolidation Tool
Conversion to IFRS almost always relates to the preparation of consolidated financial statements.
Starting with the IFRS Conversion Tool, FAS AG has developed a consolidation tool on the basis of MS Excel with which all the steps in a consolidation can be taken quickly and in a structured manner. This includes preparation of the trial balance sheet and trial income statement, through to the IFRS consolidated statement of financial position and consolidated income statement, as well as the cash flow statement and statement of changes in equity. The tool contains the following work steps up to the final IFRS consolidated financial statements:
- Currency conversion and a determination of the currency conversion differences
- Determenation and recording of the necessary consolidation journal entries:
a. Elimination of intercompany income and expenses
b. Elimination of intercompany profits and losses
c. Elimination of intercompany balances
d. Business combination accounting - Structured determination of the cash-flow statement
- Issue of consolidated balance sheet, consolidated income statement, consolidated cash-flow statement and consolidated statement of changes in equity.
The Consolidation Tool can also prepare segment reporting with appropriate entries in the FAS Conversion Tool.
The template for determining the cash-flow statement in the consolidation tool can also be used independently of the consolidation tool if necessary.
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You can request further information about the Consolidation Tool using our contact form.
