CA Ashwin Dedhia, Director, MAIA Intelligence invited as a speaker for ONE DAY
WORKSHOP ON FINANCIAL CONSOLIDATION, Organised by Committee on
Information Technology of ICAI and Hosted by Western India Regional Council at
Hotel Orchid, Mumbai on October 11, 2008

One day workshop on Financial consolodation
Organised by Committee on Information Technology of ICAI
Hosted by Western India Regional Council

Objective

Today organizations need is to quickly collect data from operating units around the world, even when these locations have disparate general ledger systems, charts of accounts, and ERP systems. Data needs to be consolidated in line with local and international requirements, such as GAAP, Sarbanes-Oxley, and IFRS, and is stored in a single database, ensuring that everyone works with the same set of numbers, accessing data from software rather than a spreadsheet. Any changes are made in this central location, resulting in greater control and confidence in the numbers. Data can be compared with budgets, plans, and forecasts within software, which improves business insight. It should have detailed journal and audit capabilities to provide consolidated financial reporting transparency to satisfy both internal and external auditors alike.

Benefits of this Program

• The program is intended to give the members an overview of application of Financial Consolidation in business scenario so as to equip them to be ready to face the challenges to come
• This program aims to equip participants with a good insight into the business benefits and the theoretical framework FCM system and the steps involved in deploying a FCM
• Help overcome the struggle of weeks to consolidate financial data at multiple levels
• Help overcome the fragile nature of spreadsheets, links, changes, errors in unsuspected cells & redoing consolidation during reorganization
• Help overcome difficulty & confusion to use and rely on IT team to deliver the on demand report which takes time where only thing that matters user is the answer to the question of a moment
• Help overcome the limitations of ERP reporting toolset and predefined set of reports with general purpose query tools for generating reports with data within ERP database
• Help overcome booking adjustment entries in ERP and replicating multiple times for each company / branch / location.
• Help overcome Inter-company eliminations which cause delays, while reconciling the differences between the companies using spreadsheets