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Consolidated Reporting - Standard Setup
The Entities General
Tab includes an option to allow the consolidation of data of several
entities for reporting purposes. When this option is selected, the Consolidate Tab displays.
On that tab, you can select entities for the consolidation.
Each entity within the consolidation is represented by
a percent of ownership. A consolidated financial statement is created
based on the percentage of data from each entity.
Examples
Study
the following examples for a better understanding of consolidated reporting.
Example 1:
In this example the company owns property A and property
B and maintains a separate entity for each property.
When creating the consolidated entity, property A
includes 100% and property B includes 100%. This setup causes the system
to generate individual financial statements for each entity. In addition,
the system generates a consolidated financial statement that includes
100% of the data from both entities.
Example 2:
In this example a partnership owns one property in
which partner A owns 60% and partner B owns the remaining 40%.
When creating the consolidated entity, an entry is
made for partner A for 60% and partner B for 40%. This setup causes the
system to generate one financial statement for the entity that includes
consolidated entity A for 60% and consolidated entity B for 40%.
See Also
Consolidated Reporting
Entities Overview
Companies
Overview