financial consolidation
TRANSCRIPT
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Financial Consolidation
Financial consolidation across companies is a complex process of combining financial data from several departments or business entities within an organization or across regions, usually for reporting purposes.
The process includes importing data, mapping general ledgers to a single chart of accounts, combining the consolidated data and producing reports called consolidated financial statements
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Financial Consolidation
Our financial consolidation expertise can help you navigate multiple currencies, mergers and acquisitions, and evolving accounting standards and regulations – such as IFRS and local GAAP.
FEMA Regulations
IFRS
GAAP
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Benefits
Increasing efficiency in overall reporting across the companies
Rely on experts for hassle free processing
Illustrative Case – Financial Consolidation
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Client : Leading client from the consumer durables industry having Headquarters in Germany
Need : The company had to meet strict deadlines related to their financial consolidation and were facing several challenges. They needed reporting of tax binder at Global level with complex tax structure existing in India plus managing two different dates, one for accounts closing and other for tax closing.
Benefits• By Outsourcing the entire F & A process along with reporting process, the company was able to reduce costs,
improving overall efficiency in entire activities• The company was able to meet management requirements with respect to MIS reporting and parent
reporting• Managing the accounting and reporting at Subsidiary level has become hassle free for parent company
Solution :• Took over the process of parent company reporting from its internal Finance
Head and within a few months, process got streamlined. • Designed the reporting template specifically keeping in view the Complex
Indian tax provisions, making it simpler to understand by Global tax team.• The team at OATS put together a robust and comprehensive process ensuring
timely deliverables to the company.
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About OATS
Offshore Accounting & Taxation Services (OATS) offers customer-centric Finance & Accounts outsourcing solutions.
F&A Outsourcing
Accounts Payable
ConsolidationBank
reconciliation
Subsidiary Accounting
Tax Compliance
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About OATS
With the right investments in technology tools, a capable team and a strong network comprising of Chartered Accountants, Cost Accountants, MBA Finance, company secretaries, OATS provides unique value to its customers.
OATS is entirely committed to deliver a superior customer service experience and help you focus on your core business
Combining years of experience, cross-domain expertise and leveraging technology, OATS delivers cutting edge solutions to make ‘simplified accounting’ a reality
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Thank You
OFFSHORE ACCOUNTING AND TAXATION SERVICES PRIVATE LIMITEDSujam, Survey No. 81/5BPlot No. 1, Chandragupta Housing Society,Behind Maharaja ComplexPaud Road, KothrudPune – 411038. INDIA.Web : www.oats.co.inEmail : [email protected]
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