Consolidation of companies with different accounting periods

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Fatih
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Joined: 07 Nov 2023, 15:37

Consolidation of companies with different accounting periods

Post by Fatih »

Hi,

There will be 5 companies in the consolidated financial tables I wil prepare. 2 companies in another country have different financial year periods. In other words, the financial period of 3 companies is 01.01.2022 - 31.12.2022, while the financial period of the other 2 companies is 01.10.2021 - 30.09.2022. I think it would not be appropriate to consolidate companies based on data from different periods. What should be done in this situation? If you can help it would be great.
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Marek Muc
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Re: Consolidation of companies with different accounting periods

Post by Marek Muc »

Ask these two companies to prepare consolidation packages that align with the group's reporting period. Ideally, you would use consolidation software, but Excel spreadsheets will also suffice. You can also consider changing the reporting periods of these two companies to save them this additional effort in the future.
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