Consolidating entries elimination updating coverage area on my tracfone
Upon consolidation, the original organizations cease to exist and are supplanted by a new entity.
A parent company can acquire another company by purchasing its net assets or by purchasing a majority share of its common stock.
In business, consolidation or amalgamation is the merger and acquisition of many smaller companies into much larger ones.
In the context of financial accounting, consolidation refers to the aggregation of financial statements of a group company as consolidated financial statements.
This would put you in the position of either implementing a new system for your legal entity that supports consolidation from other systems, or implementing a consolidation tool that is separate from your ERP environment.
The separate consolidation tool category includes Adaptive Planning, a tool that is certainly very popular.
Elimination sets are used for fully reciprocating eliminations.
For example, use elimination sets to fully offset each subsidiary's Intercompany Payables and Intercompany Receivables accounts.
This majority position enables the acquirer to exercise control over the other company.The old standard used to be from Hyperion (Pillar, IFRS) – software tools now owned and supported by Oracle.Here is a recent thread from Proformative that discusses these types of tools: Bob Scarborough I saw a Grant Thornton presentation on Blackline Systems that is cloud based works with multiple ERP systems, has account reconciliation application and consolidation.There are many reasons for these transactions, and this helps to explain their frequency.One business may acquire another to eliminate a competitor, to gain access to critical technology, to insure a supply chain, to expand distribution networks, to reach a new customer base, and so forth.