SMARTGROUP

REPORTING TOOLS


CONSOLIDATING IS SIMPLE


SmartGroup is a MS Excel add-in that will help you along the accounts consolidation process.

Is it the simplest, intuitive and efficient way of consolidating accounts.

CONSOLIDATION OF FINANCIAL STATEMENTS

A CLEAR PROCESS FOR YOU?

We know most people will say NO to this question. Even those who regularly pore on this topic. We developed a solution that will clear the path.

SmartGroup

With SmartGroup we will help you building a consolidated trial balance, but also a Balance Sheet, and a P&L Statement. This trial balance is similar to individual accounts trial balance, having an extra account for minority interests (non-controlling interests). This consolidated trial balance results from the algebric sum of individual trial balances, having, in addition, all consolidation and other necessary adjusts. Then each account of this consolidated trial balance is classified automatically with the respective Balance Sheet or P&L Statement tag. Although this classification is automatic, you can easily change it if your critical sense says another classification is better suited.

With no more difficulties, you will create your Consolidated Financial Statements.

The consolidated trial balance method main advantage, relatively to the more traditional method (summing Individual Financial Statements and then doing the consolidation adjusts) is that a consolidated trial balance has more detailed information that can help you in the preparation of Notes to the Financial Statements. With the powerful help of MyREPORT, you can easily build the Notes to the Financial Statements you need.

OPTIMIZE CONSOLIDATION PROCESS


Year after year, you must add recurring adjusts. Having that in mind, it is useful that you define every adjust as one of the following categories:

- Recurring adjustment
- Adjustment to revert in next exercise
- Reverting adjustment of previous exercise
- Only one time adjustment

This way, you will easily identify which adjustments should be added in each exercise, and you won't take the risk of forgetting some important adjustment.


ADJUSTMENT


You shall also classify adjustaments in one of the following two cathegories:

Prior to consolidation adjustaments:

- Lançamentos de normalização de referencial contabilístico
- Lançamentos de harmonização das políticas e métodos contabilísticos
- Lançamentos de correção de erros nas contas individuais
- Etc.

Consolidation adjustments:

- Elimination of intragroup balances and transactions
- Elimination of profit margins resultant from intragroup transactions
- Elimination of ownership interest, reserves and retained earnings of controlled companies
- Non-controlling interests (minority interests)
- Etc.

SmartGroup will keep an effective control of all consolidation process without complex softwares.


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