Legal Consolidation

[Former Member]

Hi All,

In Legal consolidation, there will be balance sheet and income statement. These items are different by nature. For example, we do not need flow dimension for income statement but we need the flow dimension for balance sheet. Also, the data entry method for income statement is usually by period while balance sheet is cummulative.

What is the common practice for legal consolidation? Do we need to create 2 models (one for income statement and the other one for balance sheet)? 

Thank you.

[Former Member]

Hi,

common practice should be:

• one model
• data entry on a ytd basis even for income statement items
• specific flow element for income statement

BR