Automated Consolidation journals as the name suggests are created by default during the consolidation process. They provide an insight into the journals that are generated during the consolidation process, giving a clear picture of what values are rolled up from the child entity to the parent. Continue reading
Having worked on designing and developing bespoke tax provisioning solutions for corporates when I came across Hyperion Tax Provision I was definitely impressed. The user interface provides ease of use for existing Hyperion Financial Management clients. Coupled with flexibility to incorporate the entities’ tax calc requirements the solution brings a tremendous value add to users.
In preparing consolidated financial statements, we need to eliminate transactions between companies or entities included in the group for consolidation and only report results arising out of transactions with third parties. This is achieved thru intercompany elimination.