Breakfast with experts - Cognos Controller Best Practices
Waking up was never easier.
April 19 th, 2016 - Session from 8.30 h. | 10.00 h.
Topics for this edition: IBM Cognos Controller for Consolidation:
Best Practices to
·Automate the consolidated cash flow statement
·Automate the consolidated equity reconciliation
7.30 | 8.30: Welcome & breakfast
Possibility to discuss ideas & network with the IBM Cognos Controller experts from element61 & Consolidation experts from Moore Belgium: Ahmed Draidi, Frank Lehouck, Rita Buyse, Stijn De Mil, Nicolas Ballieu, Dolou Amah
8.30 | 9.30: How to automate the consolidated cash-flow, setup the cash flow from an individual company level up to the consolidated view on group level, within IBM Cognos Controller.
Discover how to automate the consolidated cash flow within IBM Cognos Controller, enabling you to report and analyze the cash-flow statement from an individual company level onwards to the consolidated group level.
At the end of the consolidation process, the reconciliation of the consolidated cash flow at group level may be a real challenging exercise. It will require you to work your way through a huge pile of data, originating from all subsidiaries and presented in converted group currency. Moreover, the data will contain not only the reported numbers but will also include the manually posted journal types. Finally to make it even more demanding, the impact of the automatic elimination journals must be considered as well, when presenting the consolidated cash flow at group level. The complexity increases with the number of companies, currencies etc. involved, whereas specific transactions such as acquisitions through share deals, net asset deals, mergers etc. will challenge you even more in presenting the correct cash view on the consolidated group.
We distinguish two levels of impact in our approach, the process impact and the impact on the set-up of the consolidation system. From a process point of view, all subsidiaries are impacted and will need to comply. Responsibilities towards data, data quality & controls must be defined from a local subsidiary level till the group level. The changes in reporting process need to be explained and a training might be required to assure the correct and consistent understanding of cash and non-cash type of impacts throughout the group. From a set-up point of view, the Cognos Controller account structures, input forms and elimination tables will be reviewed to allow the identification of cash versus non-cash transactions, identify net movements, currency impacts, isolate intercompany transactions, etc.
The end result we will present allows you to analyze the consolidated cash flow statement both at group as at company level within IBM Cognos Controller. Our solution facilitates to analyze figures through the different steps in the consolidation process (reported data, manual adjustments and automatic eliminations) and will increase the data quality of the consolidated group reporting.
9.30 | 10.00: How to automate the reconciliation of the consolidated equity?
Discover how to speed up your current consolidation process by improving the follow up and analysis of the equity movements.
The use of specific flows for specific equity transactions, will allow you to automate the equity reconciliation process. The aim is to detect and identify per consolidated company and in a transparent way all equity impacts and to summarize them in an equity overview ready to be published within your annual report. Within our approach we tackle both the set-up for the BGAAP- as well as for the IFRS accounts.
10.00 | 10.30: possibility to discuss ideas & network with the IBM Cognos Controller & Consolidation experts
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