Consolidation of Financial Statements

According to publicly available information every fourth Ukrainian legal entity marks itself in questionnaire surveys as a group member.

To prepare consolidated financial statements of a group of companies may appear to be quite a hard exercise if the information systems of all the group members are not designed properly to supply regular and reconciled data for consolidation. The accounting policies applied by the group members should also be unified in line with the corporate reporting standards.

The consolidation technique represents a set of standard adjustments the complexity of which is driven by the factors like the number of companies in a group, nature of intercompany transactions, unrealized profits, minority interest, dividends, etc..

Having a great experience in auditing the group accounts in different industries Alt's financial consultancy department has developed a unique consolidation technique which we are ready to share with our clients.

Our assistance to management may vary from consulting on particular issues of consolidation to software customization, staff training and internal control procedures design.

We consolidate your accounts once as a pattern together, then recommend you optimized information system design and control procedures, train your staff in corporate reporting department and delegate the entire process of consolidation to management.