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Glossary

Creating Consolidated Financial Statements

Overview

After you have defined the structure and master data of your group, you can configure the app-supported consolidation of your group in the Consolidated financial statements workspace.

To do so, first create a so-called consolidated financial statement element in the Consolidated financial statements workspace for the desired combination of group and data level and define the time period of the consolidated financial statements. This chapter describes how to proceed.

Subsequently, in these consolidated financial statements elements, you can:

Notes for customers who have used apps of the Consolidation 2 or Consolidation 2 Next Generation in Lucanet.Financial Client

  • Elements of type File and Text document cannot be displayed and/or edited in the Lucanet CFO Solution Platform
  • For information on the apps supported in the CFO Solution Platform, please read the Notes on Migration From Lucanet.Financial Client.

Creating a Consolidated Financial Statements Element

To create a Consolidated financial statements element, proceed as follows:

1

Open the Consolidated financial statements workspace.

2

In the dimension bar, select the combination of group and data level for which you wish to create the consolidated financial statements.

3

If you have not yet defined master data for this combination of group and data level, click + Create in Master Data Administration and configure the master data as described under Administrating Master Data.

If you have already defined Master Data, a link to the corresponding Master Data Management is displayed.

4

Highlight the root folder Consolidated financial statements and select New | Consolidated financial statements from the context menu.

5

Configure the options in the Create consolidated financial statements dialog as described below .

6

Save the element.

Options

The following options are available:

Shows the 'Create Consolidated Financial Statements' dialog. The options 'Cancel execution' and 'Use template' are activated.
Create consolidated financial statements

Name

Group financial statements name

Period

Period of the consolidated financial statements

Note: The time period must lie within the time period of the selected data level.

Behavior in case of error:

Wählen Sie ein gewünschtes Verhalten, wenn bei der Ausführung des Konzernabschlusses ein Fehler auftreten sollte:

  • Continue execution
  • Cancel execution

Use template

Please activate this option if you would like to use a template for the consolidated financial statements.

Then, in the Journal select the desired combination of data level and group and from the drop-down list the desired consolidated financial statements to be used as a template.

Note for customers who have already used Financial Consolidation 2 in the Lucanet.Financial Client:

In Lucanet CFO Solution Platform only templates can be used that exclusively contain consolidation apps of the Next Generation.

Last updated on Aug 16, 2023

Table of Contents
Creating Consolidated Financial StatementsOverviewCreating a Consolidated Financial Statements ElementOptions
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