IFS Financials - Group Consolidation

ABOUT THIS COURSE

This course provides a comprehensive understanding of the Group Consolidation functionality of IFS Financials related to the IFS Applications.

Target Audience

Those who need to identify and state the essential decisions to be made, basic data to be created and processes involved in the Group Consolidation in support of IFS Financials in IFS Applications.

  1. Overview of Group Consolidation
  2. Basic Data for Group Consolidation
  3. External Interface
  4. Executing the Consolidation
  5. Analyzing the Consolidation
  6. Currency handling in Group Consolidation
  • Understand the IFS Group Consolidation concept
  • Understand the three main consolidation methods used for IFS Group Consolidation
  • Create the Master Company for Group Consolidation
  • Set up Reporting Entities
  • Set up Balance Versions and Alternative Balance Versions
  • Understand the Reporting Transaction Types that can be used in Group Consolidation
  • Map code parts, code part values and accounts between master company and reporting company
  • Set up consolidation settings for accounts
  • Create Consolidation Structures
  • Create Parallel Consolidation Structures
  • Understand Ownership Elimination and Profit Adjustment
  • Understand Intercompany Elimination and Equity Elimination
  • Define Consolidation Security Settings
  • Set up Reporting Status
  • Set up Posting Controls for Group Consolidation
  • Understand how the External Interface concept is used in Group Consolidation
  • Transfer balances from Reporting Entities to the Master Company
  • Approve reporting journals
  • Enter Manual Adjustment Journals
  • Run the Group Consolidation flow
  • Analyze the consolidation, based on pre-defined analysis, reports and lobbies
  • Know the different currency types used in the Group Consolidation process
  • Understand how to use a Group Currency
  • Explain the currency movements in the consolidated balances

Knowledge: Perfect understanding of the Group Consolidation.

Courses: IFS Applications 10 Essentials,General Ledger

Inquire

IFS Academy Inquiry Text

Track:

  • Consultants

IFS Applications Version:

  • IFS Applications 10

Module:

  • IFS Financials

Course ID:

CS10FINGC

Duration:

Classroom - 1 day, Virtual Classroom - 2 sessions (of 4 hours)