Consolidation & Group Reporting

Define the consolidation universe in IFS Group Consolidation by setting up one or more Master Companies, Balance Versions, Consolidation Structures and code part mappings. This foundational setup establishes how reporting entities feed the group and how nodes consolidate into parent nodes, including ownership percentages and consolidation methods.

Transfer accumulated period balances from each reporting entity to the master company, applying chart of accounts translation and code part value mapping, then create and approve adjustment journals for GAAP differences, corrections and node-level adjustments. Reporting can be repeated while the period is open before closing for consolidation.

Translate reported balances of foreign reporting companies into node-specific and group currency during consolidation, using average rates for Income Statement accounts and closing rates for Balance Sheet accounts. IFS supports triangulation via the master company currency, historical rates for special balance sheet items, and period-rate translation of income statement balances.

Execute the consolidation eliminations that produce net group balances: ownership elimination and related profit/loss adjustment, intercompany balance elimination, and equity elimination with amortization of overvalues driven by the Acquisition Register. IFS supports partially owned companies, ultimate ownership, minority interest and consolidation method changes over time.

Analyze and report reported balances, adjustments and consolidated balances across the consolidation structure using on-screen zoom-in, drill-down, user-defined accounting structures and IFS Business Reporter. Information Sources and the Group Consolidation analysis model expose consolidated balances, source-level period details and elimination transactions for BI.