Growing a group of companies often involves expanding the business through adding new products, services or acquiring a competitor. Such dynamic group environment makes a strategic financial planning very critical and consolidated accounts play a vital role, offering a clear, comprehensive view of a group of companies financial health. This insight is essential for making informed decisions about acquisitions, public offerings, regulatory changes, and other strategic initiatives such as succession planning.
Why Consolidated Accounts Matter
Do you know that around 2/3rds of all financial consolidation worldwide are done on spreadsheets? Although, with a spreadsheet all calculations, operations and transaction are done manually. But nowadays, group consolidation processes are full of complexity and are constantly changing and the flexibility of a manual and people-depending spreadsheet, which is basically one of its strong points, becomes a risk in consolidation.
But good corporate governance is forward-looking and active and this implies the existence of timely, customised management information.
Fact is, that the availability of group consolidated figures prepared by a sophisticated system can quickly become a catalyst for the future success and viability of the company.
Benefits of Group Consolidation Software
- Speed: Automated processes produce consolidated financial statements faster.
- Reliability: Reduced dependency on key individuals minimizes risk.
- Insight: Integrated management information systems (MIS) offer transparent, informative data for strategic decisions.
- Efficiency: Simplifies processes, enhances transparency, and ensures compliance with regulatory requirements.
- Flexibility: Simulation capabilities help prepare for various scenarios.
Cost-Effective Solutions with Carey
Our experienced Consolidation team will support you by choosing a modern system, will provide you with our extensive experience and prepare and assist you in the preparation of consolidated financial statements including notes.
At Carey, we look back on many years of experience in group consolidation and endeavour to find and implement a suitable solution for every situation and support your team for as long as required.
| Consolidation regulations in Switzerland Art. 963 of the Swiss Code of Obligations (CO) stipulates the preparation of consolidated financial statements for groups of companies, whereby Art. 963a provides for exemption from this obligation for companies that do not exceed two of the following three size criteria on two consecutive balance sheet dates: Turnover: CHF 40 million, balance sheet total: CHF 20 million, employees (annual average full-time equivalents): 250. Similar regulations apply to other European countries. |