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The Finance Check: Consolidation

Questions about month end and the group numbers. A few minutes.

At the end, if you’re based in the UK or Ireland, you can pick one area for a free hour of consulting time, such as a chat through your consolidation process. If you’re a charity, it’s two hours.

The result is a link you can bookmark or pass on.

About you

How many legal entities do you report on?
How many currencies go into the group numbers?
Which framework do the statutory accounts follow?
Any acquisitions or disposals in the last two years?
Roughly how much work goes into month end across the team?
Roughly what’s the average salary of the people doing this work? It’s only used to put a £ figure on the time. We don’t keep it.

Consolidation

How many working days after month end until the numbers are final?
Where does intercompany get matched and eliminated?
Where do the exchange rates come from, and where are they applied?
When intercompany doesn’t balance, how long does it take to find out why?
Where do top-side adjustments live?
The auditor asks how a consolidated number was built. How long to show them?
You buy a company next month. How long until it’s in the group numbers properly?
Are the management and statutory numbers the same numbers?

We’d like to add everyone’s answers up, to say things like how long a budget usually takes. We keep the answers and the month – nothing that says who you are – and only ever publish figures from ten or more people. Untick it if you’d rather not. There’s more in our privacy policy.