IFS Financials - Group Consolidation

ABOUT THIS COURSE

This is one of the courses towards gaining the IFS Certified Specialist accreditation for Consultants. It enables students to cover and prepare all of the examination specification topics for the Group Consolidation exam.

TargetAudience

Those who need to identify and state the essential decisions to be made, basic data to be created and processes involved in the Group Consolidation in support of IFS Financials in IFS Applications.

  1. Overview of Group Consolidation
  2. Basic Data for Group Consolidation 
  3. Executing the Consolidation
  4. Analyzing the Consolidation
  • Understand the IFS Group Consolidation concept
  • Understand the three main consolidation methods used for IFS Group Consolidation
  • Create the Master Company for Group Consolidation
  • Set up Reporting Entities
  • Set up Balance Versions and Alternative Balance Versions
  • Understand the Reporting Transaction Types that can be used in Group Consolidation
  • Map code parts, code part values and accounts between master company and reporting company
  • Set up consolidation settings for accounts
  • Create Consolidation Structures
  • Create Parallel Consolidation Structures
  • Understand Ownership Elimination and Profit Adjustment
  • Understand Intercompany Elimination and Equity Elimination
  • Define Consolidation Security Settings
  • Set up Reporting Period Status
  • Set up Posting Controls for Group Consolidation
  • Transfer balances from Reporting Entities to the Master Company
  • Approve reporting journals
  • Enter Manual Adjustment Journals
  • Run the Group Consolidation flowAnalyze the consolidation, based on pre-defined analysis and reports 

Knowledge: Perfect understanding of the Group Consolidation.

Courses: IFS Fundamentals, Accounting

Exams: IFS Fundamentals (recommended)

Inquire

IFS Academy Inquiry Text

Track:

  • Consultants

Certification:

  • Specialist

Module:

  • IFS Financials

CourseID:

CS90FINGC

Duration:

2 Days