CONSOXLE ™ LETS AUTOMATE CONSOLIDATION…….. Aarna Soft Solutions Private Limited
Sep 14, 2014
CONSOXLE ™ LETS AUTOMATE CONSOLIDATION……..
Aarna Soft Solutions Private Limited
Challenges in Consolidation:
Multi Currency
Various methods of consolidation
Various Accounting Standards (AS, IFRS, etc.)
Various types of entities: Partnership firm, Private
Limited companies, Limited companies
Various Relationships in consolidation: Subsidiaries,
Joint Venture, Associates, etc
Out of books effects – Goodwill / Minority
Current Scenario
Time and Repetitions
Staff Deployment
Human Dependency
Lack of Reliability
Bulky Data
Decentralised Working not possible
Solution offered by
CONSOXLE™ Software
Consolidation Process
Currency Adjustment
JV Proportion
Goodwill
Intra Group Transactions
Accounting Policies
Adjustment
Equity Impact
Minority
Fixed Assets Schedule
Upload
Trial
Balances
LBLA
Profit and
Loss
Account
Balance
Sheet
Consolidation
Setup
Master
One time
activity
Tally
Upload
Excel
Upload
Ledgers /
Day Book
Master Setup
1. Group Master
2. Company Master
3. Group Company Profile (Hierarchy) Master
4. Group Chart of Accounts (COA) Master
5. Project ID
6. Authorised Person / Auditor Signatory
Set up Group Company Hierarchy Master
Trial Balance
1. ACTB Upload
2. Tally TB Upload
3. TB Validation
4. TB Comparison
5. TB Removal
6. LBLA
Upload Trial Balances
On Screen
Entry
Excel
Upload
Process
1. Foreign Currency – Integral / Non-integral
2. Proportionate Consolidation Process
3. Goodwill
4. Self Made Company Capital Elimination
5. Intercompany Transactions
6. Manual Entries
7. Equity Impact
8. Minority Interest
Goodwill Process in Consoxle ™
Goodwill of Associates:
Goodwill of Subsidiary
Minority Interest in Consoxle ™
Share of Minority Interest on Post
Acquisition Profit
Multi level consolidation
Holding
Subs1
Subs1 Sub 1 Subs1 JV 1 Subs1 Ass1
Joint1
Joint1 Sub1
Ass1
Ass1 Sub1
Reports
1. Goodwill Report
2. Minority Report 3. Vouchers
4. Day Book 5. General Ledger 6. Standalone BS and PL & Schedules
7. LBLA 8. Fixed Assets Report 9. Consolidated BS and PL & Schedules
10. GL Wise Break up – Last mile details 11. Ratio Analysis
1. Goodwill Report
2. Minority Report
LBLA – Line by Line Addition
Standalone & Consolidated Balance sheet &
Profit and Loss Account
Multi Level Consolidation
Security Feature
Authentication
User ID and Password
Authorisation
Role base access to specified entities and report.
Can be easily configured as per your company’s requirements.
Back end database (Oracle 10G)
Stable database, no accidental modification and deletion of data or formulas (which can happen in spreadsheet)
Benefits of using Consoxle™ for consolidation
On time consolidation
Assured accuracy
Avoid errors caused by manual processing
spreadsheets.
Save efforts
Enable sharing & parallel processing of workload,
elimination.
Automate several computation to save manual efforts.
Multi Currency
Benefits of using Consoxle™ for consolidation
… Continue
Reduce person dependency without losing
consistency.
Robust securities
Line by line addition report (LBLA)
Pre-loaded report formats: Revised Schedule VI
Multi level consolidation
Benefits of using Consoxle™ for consolidation
… Continue
Web Based Solution
Output in Excel/PDF
Audit Trail Report
Extra Features….
Effect of Changes in Relationship
Effect of Changes in % Holding
C/f of Past Entries
IFRS Reporting
Cash Flow Statements
Notes to Accounts
Auditor’s Report
Technologies
Developed on:
Java/J2ee
JavaScript-AJAX
Servlet-JSP
Oracle 10g
Apache Tomcat
Tested By:
Expert Chartered Accountants
Console ™ Implementation
Week-1
• Deliver the software
• Install and Configure database
• Create users and authorization
Week-2
• Create entities and hierarchies
• Create reporting structure
• Create other masters like Currency, Goodwill, Minority, ect.
Week-3 & 4
• Users Training
• Hands on practice upload your previous period TB generate reports which match with the published numbers
Console ™ Output Generation
Day-1
• Upload Trial Balance
• Validate
Day -2
• Carry out Processes
• Validate
• Generate Consolidated Financial Statements
Team
Dr Kalpesh Parikh
CA Sandesh Mundra
CA Suman Mundra
Separate Teams for Development / On Site
Implementation & Support / Testing Team
Team Leader - Development
Dr Kalpesh Parikh
Ph.D – Computer and Info Sc
28 Years of IT Experience
mySAP Business Suite , Customized ERP, SAS, IBM Rational Suite, Solution
Manager, BPM Tool, WAP, Java, .NET, Coldfusion in
Textile, Manufacturing, Financial, Retail , Media, Restaurant, Jewelry, Education ,
Construction, Out of Home, Business Process Management
10 + Years Process Experience
QMS - ISO 9000 Lead Auditor and Empanelled BVQI & BSI and CI,UK
ISMS - ISO 27001 Lead Auditor – Empanelled with BSI and CI,UK
SSE-CMM-ISO 21827 Lead Appraiser System Security Engineering–Capability Maturity Model
ITSM-ISO 20000 – IT Service management – First Course in World outside UK
Experience on ISO 12207-Software Life Cycle Development (Adopted by DOD,US)
Team Leader - Domain
CA Sandesh Mundra
Fellow Chartered Accountant with hands on experience and expertise in Internal
Audits, Statutory Audits & Preparation of Consolidated Financial Statements
Post Qualification Academics
Diploma in Information System Audits
Diploma in Insurance and Risk Management
IFRS Certified by ICAI
Faculty on the Topics of “Business Combination” and “Consolidated Financial
Statements” for the IFRS course organised by Mumbai and Ahmedabad Chapter
of The Institute of Chartered Accountants of India
Experience in Consolidation of Accounts of a corporates with more than 100
group concerns.
SHANTIKRUPA
ESTATES PVT LTD
Icons Who have trusted our Team in the Past
Hashmukh Shah Group
Government Agencies
UGC-AICTE-INFLIBNET-AMC
Government Corporations
GSFC-GIIC-GAIC-GIDC
Contact Details
Aarna Soft Solutions Private Limited
Email: [email protected]
Mobile: +91 9426024975
Web: www.consolidationofaccounts.com
Thank You !