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Statutory and Management Consolidation

Statutory and management consolidation is the process of closing the books, collecting data and consolidating all financials so that reports can be created for both managerial and regulatory disclosure purposes in accordance with IFRS and US GAAP.


In a mergers and acquisition context, statutory consolidation can also refer to the scenario where two businesses merge to create a new company but neither of the previous companies continue to exist.


In a close-to-disclosure context, financial consolidation is defined by IAS 27 as when the “Financial statements of a group [including] the assets, liabilities, equity, income, expenses and cash flows of the parent (company) and its subsidiaries are presented as those of a single economic entity."

 


Discover how CCH Tagetik Performance Management Software delivers:

consolidation & close