Hi team
I wonder in a complex company (with multiple subs), how often is consolidated reports be prepared, is that prepared every month as part of the month end process or its more common to just do it once a year.
Month end as I know it is to produce stand alone company report for internal use. Is it common to do consol on monthly basis?
How often to prepare consol?
Re: How often to prepare consol?
Large groups will have software in place that will enable them to run a consolidated report with a press of a button. And they do this on a monthly basis, otherwise they wouldn't be able to see their results. For a large group, there is no use to see the results of just the parent entity.
Re: How often to prepare consol?
Setting up for failure at year end if you don't consider group issues until then.... maybe you have very simple structure and no real consolidation issues to worry about, unlikely in a 'complex' group....
Re: How often to prepare consol?
True! Even if you plan doing it for year-ends only, consider doing a test run for a 'hard close' i.e. month closing just before year-end.