O'Reilly logo

Implementing Oracle Fusion General Ledger and Oracle Fusion Accounting Hub by Nivas Ramanathan, Vladimir Ajvaz, Anil Passi

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER10

Consolidation

One of the key activities performed by the finance department is to prepare consolidated financial statements when a company controls one or more other legal entities. Consolidated financial statements are prepared as per accounting requirements (US GAAP, Local GAAP, or IFRS), and the process to prepare the statement for legal reporting of the parent company is called consolidation. Determining when to consolidate one entity to another is a complex area of accounting, but generally, if an entity is exposed or has rights to variable return on the investment made on another entity and has the power to control those returns, then the consolidation process should take effect. It is also important to investors because when ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required