In a developing environment, locally or internationally, your challenges are :
- To give an economic representation of your group by standardizing the accounts of the different entities that compose it, adapting them to the group’s culture, translating the control of the parent company into its subsidiaries and defining the perimeter of the “external partners” Based on strong support from your existing teams.
- To ensure a transition from a step-by- step consolidation solution to a software solution enabling rake consolidation to give a direct reading of the various consolidated data and allowing a natural restitution of data in French or IFRS format.
- To Make the Group’s financial statements comparable to those of international groups by initiating a transition to IFRS.
- Ensure a gradual transfer of skills
We suggest we realize your project in 6 steps :
This step makes it possible to identify and plan the important parts that are to be dealt with at the beginning of the project:
- Definition of project objectives
- Finalization of the precise perimeter
- Validation of the deployment strategy
- Definition of the general project planning
- Definition of the necessary procedures for the management of the project
- Planning of general design workshops
- Planning for implementation
This step involves analyzing in detail the needs in relation to the project perimeter:
- Workshop account plan (analysis and implementation of the account plan in a suitable software)
- Workshop consolidation rules
- Workshop Bundle
- Workshop Restitution
- Workshop brochure
- Workshop interface
At the end of this phase, we will propose an analysis document and a design document that must be validated by you before the beginning of the next phase.
This step consists of implementing the elements described in the design file and sanctioning the implementation by carrying out the unit tests and integration:
- Setting: harmonization of the plans of accounts, Identification of any modifications to be made to the standard setting of the proposed software (in particular: setting of the proof of tax)
- Identification of temporary differences and permanent differences, tax value of balance sheet items, applicable tax rates, tax loss carry-forwards and / or tax deferrals, specific tax rules …
- Identification of off-balance sheet commitments for each of the Group's entities
- Development of interfaces
- Unit tests
- Data Integration Tests
The process of resuming the consolidation in the proposed tool proceeds as follows :
- Codification of entities, currencies and tax rates
- Setting up the correspondence tables (group account plans / standard software account plan)
- Import of General Scales N-1
- Import of general balances N
- Entry of cash flows on items of fixed assets, depreciation, long-term financial or other liabilities, regulated provisions, other provisions
- Entry of tax results and tax bases on temporary differences (to produce social tax proof)
- Entry of items relating to financial leases, margins on inventories, retirement commitments, investment subsidies, etc.
- Import and / or entry of inter-balance sheet balances (N-1 and N) and result
- The verification related to published accounts, understanding variances, possible arbitrations, etc
Throughout the process, the consolidation teams will be involved and will work with us. The principle of this mission is to reconstitute the consolidation in a software tool in collaboration mode, but also – and above all – in the transfer of skills in relation to the tool so that the teams become autonomous.
A preliminary assessment of the accounting and fiscal technical level of the persons involved will allow to target the uncontrolled theoretical points and to prepare short and targeted trainings. A training component is therefore to be considered (development of the contents and supports by our firm, training and practical application on the proposed tool).
We suggest to assist you annually in the realization of your consolidation in a collaborative way the tool that we propose to you as follows: (the common tasks are generally carried out to the level of 2/3 by the customer and 1/3 by The firm).
|Process||Our firm||Your Team|
|Preparation of the consolidation process||X|
|Bundle of consolidation||X|
|Automatic bookkeeping control||X|
|Treatment of deferred taxes||X||X|
|Analysis of shareholders’ equity||X||X|
|Establishment of cashflow statement||X|
|Control the restitution states and the flow chart||X|
|Control of proof of tax||X|
|Synthesis and preparation of the annex and the report||X||X|
|Assistance to the CAC audit process||X||X|