what is consolidation process?



what is consolidation process?..

Answer / jilan_

Consolidation is the period-end process of combining the financial results of separate subsidiaries with the parent company to form a single, combined statement of financial results.
Or in short ..
"Consolidation is the process of transferring the data from ‘one ledger’(subsidiary) to another ledger (primary)."
The typical consolidation process includes eight steps,
1. Defining Consolidation Charts of Accounts
2. Mapping Consolidation Data
3. Preparing Consolidation Data
4. Transfering Consolidation Data
5. Posting Consolidation Data
6. Creating Eliminating Entries
7. Reporting on Consolidated Balances
8. Analyze Consolidated Data

Is This Answer Correct ?    1 Yes 0 No

Post New Answer

More Oracle Apps Financial Interview Questions

Hoe to refund prepayment amount

3 Answers   TCS,


what is budgeting and steps required to configure this

6 Answers   Meru Cabs, Satyam,


What is revaluation & translation ?

1 Answers   Deloitte,


Accounting Methods?

5 Answers  


7. what is reconciliation

2 Answers   Arihant,






What is reconsilation flag in gl? What is use of this ?

3 Answers   IBM,


can you explain aim methodology, what are the documents need to be prepare as functional consultant, explain about gap.

2 Answers   Oracle,


whichever documents prepaired by the FUNCTIONAL CONSULTANT while implementing project by using AIM.

8 Answers   Accenture, TCS,


What is primary set of book?

2 Answers   L&T,


how service tax work.

0 Answers   Ernst Young,


What are the steps to define a Bank?

2 Answers  


I have requirement where the Invoice given by supplier is in USD, but the payment can be done in GBP. Is it possible in AP?

4 Answers  


Categories
  • Oracle Apps Technical Interview Questions Oracle Apps Technical (547)
  • Oracle Apps Financial Interview Questions Oracle Apps Financial (793)
  • Oracle Apps Manufacturing Interview Questions Oracle Apps Manufacturing (53)
  • Oracle Apps HRMS Interview Questions Oracle Apps HRMS (169)
  • Oracle Apps CRM Interview Questions Oracle Apps CRM (9)
  • Oracle Apps SCM Interview Questions Oracle Apps SCM (141)
  • Oracle Install Base Interview Questions Oracle Install Base (62)
  • Oracle Service Contracts Interview Questions Oracle Service Contracts (101)
  • Oracle Apps AllOther Interview Questions Oracle Apps AllOther (114)