Oracle Consolidation Hub
Oracle Consolidation Hub (FCH) is designed for collection of financial amd statistical data from various sources taking into consideration complex dependencies between companies of the group, ownership of shares, participation in affiliated companies.Summarized data prepared in uniform formate shall allow preparation of consolidated statements, benchmarking and evaluation of operating results of all group units regrdless of complexity of the holding structure.
Benefits of the solution:
- Reporting preparation as per IFRS based on transformation of data from national accounting and correction sheets.
- Data processing of consolidated companies: representation in company-wide chart of accounts, currency translation, execution of automated corrections
- Possibility of construction of system for remote data interchange for consolidation by means of WEBADI
- Hierarchy management of consolidated companies, possibility of simulteneous maintenance of variety of corporate structures
- Management of consolidation rules: ownership interest, calculation of minority interest and other corrections
- Management of operations for acuisition/sale of ownership interest, automated change of consolidation method at change of ownership interest
- Management of consolidation process: automated elimination of intracompany settlements basing on predefined rules, reduction of amounts into other currency based on average rate and rate at the end of period; execution of automated corrections, data aggregation, preparation of management and transaction reporting with possibility of refinement of consolidated statements up to the level of initial Trial Balance, dynamic preparation of reporting, data export into MS Excel
- Management of account chart structure, accounting periods, account hierarchy maintenance, several account charts
- Management of access rights to consolidated information, built-in control procedures according to SOX standards
