Data Consolidation
With many large corporations, after gathering data from all subsidiaries (accounting independently or dependently) to server has been installed BRAVO software, the data will be processed, standardized with and excluded process between subsidiaries and parent company to sum up the consolidated financial statements of corporations …
Overview of Data Consolidation
With many large corporations, after gathering data from all subsidiaries (accounting independently or dependently) to server has been installed BRAVO software, the data will be processed, standardized with and excluded process between subsidiaries and parent company to sum up the consolidated financial statements of corporations …
STANDARDIZE DATA, DECLARE NORM
BRAVO Software implements standardized data processing through automated formula which has been declared and defined while designing process. The software system will check the data to issue the arising internal data and transaction that has not been standardized. Then user would adjust regulations, declare and standardize data on the same criteria, a common type to create report.
The basic types of indicators should be established include: Target funds, assets, revenues, expenses, profits and other indicators
ANALYZE & ELIMINATE UNNECESSARY INTERNAL DATA
BRAVO software designs the “Declaration of the formula for determining eliminate internal transaction”. At the end of the period, users run these functions before creating report, then, the system will automatically generate “automatic entry” for the purpose of eliminating internal transactions. Also BRAVO software enables “Update arising data & adjustment” to adjust other business transactions that the system cannot be excluded on the basis that automatic data processing system for creating fiscal consolidation reports. Some business transactions will be declared and handled by BRAVO software:
– Exclude internal transactions (between parent/member companies) include:
- Internal trading within corporation.
- Transference of inventory into fixed assets (in case subsidiaries purchase inventory of parent company)
- Borrowing and investment in local corporations (Excluding investment of parent company with the owners of the capital).
– Excluding internal dividend transactions.
– Separate profits of the parent company and its subsidiaries.
– Excluding the joint venture company and determine goodwill, allocated goodwill
CREATE AND PRINT ACCUMULATED REPORT
After these steps, users could set up the General Report with data came through merge process on Bravo software. Some Accumulated Report such as:
- Balance Sheet
- Business Operations Report
- Cash flow statement
- Financial Statement
- Planning for Cost or Income (of member units and corporation)
- Cost and revenue analysis
