Events

The beauty of our 'lunch & learn' webinars is you don't even have to leave your desk, so you avoid the time and cost associated with traditional seminars. You simply view the webinar on your PC whilst listening to the commentary via your telephone. All webinars are live and interactive allowing you ample opportunity to ask questions.

Title	Financial consolidation - how to shorten the cycle and remove errors through automation
Date and Time	12.00pm 10th August

For most finance departments pressure to perform is the norm. In this environment, for organisations with a group structure, financial consolidation can be a major business pain. Research suggests that in most companies, 90% of the consolidation process is spent on routine admin such as gathering external data, loading data, reconciling data with subsidiaries, and consolidating data. Meanwhile there is little time left for value-add tasks like management and financial reporting that might actually benefit the business.

Businesses have a number of key requirements when performing consolidations, without which the process all to easily becomes time consuming, expensive and prone to errors:

global data collection from different subsidiaries and IT environments
dealing with different financial year-ends
regulatory compliance
control of the consolidation process, i.e. workflow
inter-company relationship matching and reconciliation
manual transactions for adjustments & reclassifications
rapidly responding to a changing group structure and performing what-if analysis
currency translation using different exchange rates and automatic treatment of exchange differences
automatic consolidation with capital consolidation, inter-company eliminations, etc
minority interest calculations
audit trail of consolidated data
transparency of information to all stakeholders, i.e. management, shareholders, auditors, institutional investors, etc

This webinar will show you how to address the above requirements with MIS Consolidation. An application package that provides automatic functionalities to manage the consolidation process such as currency translation, capital consolidation, inter-company receivables/payables and expenditures/revenues elimination, elimination of inter-company profits on inventory & assets, dividends elimination and minority interest calculation.
By using the MIS Consolidation tool your business can benefit from:

a comprehensive base for consolidation, compliance reporting and management reporting processes
integrated processes and shortened closings and reporting cycles
elimination of time-consuming, error-prone processes such as manual currency conversions and inter-company matching
accommodation of mergers, acquisitions, or reorganisations and other change through built-in business logic
provision of critical financial data for the full range of regulatory compliance reporting, including IAS, IFRS as well as GAAP reporting
an extensive audit trail to satisfy internal and external auditors
a centralised OLAP database for efficient processing and administration - enables continuous feedback and enhanced decision support

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If you have any specific requests or suggestions for a webinar please contact David Smart at Foundation on 020 8238 6459 or david.smart@foundationsystems.co.uk