LucaNet.Financial Consolidation is a versatile assistant toolfor preparing financial consolidations and can meet diverse consolidation needs of groups in complex scenarios. Integrating professional consulting insights from LucaNet's early stages and the data integration capabilities of LucaNet.Importer, the system automatically and efficiently performs financial consolidation based on offsetting rules configured by finance professionals.
What distinguishes LucaNet.Financial Consolidation from typical consolidation software is its transparent presentation of the entire offsettingprocess. It also allows finance professionals to manually intervene in the offsettingprocess, avoiding the opacity associated with a "black box" approach. The entire consolidation and offsettingprocess is transparently presented on the frontend, providing quick and intuitive traceability of the source of each offsetting result for financial department.
Cross-system consolidation capability
Based on LucaNet.Importer's data integration results, LucaNet.Financial Consolidation breaks down system barriers. It can generate financial consolidations based on different brands,
Multi- stucture consolidation capability
It supports consolidation across multiple organizations and structures (equity structure, management structure). In addition to statutory consolidation,
Multi-caliber consolidation capability
It supports consolidation by multiple calibers, such as by law, management, performance, and budget.
Multi-level consolidation capability
It supports various consolidation methods, such as hierarchical consolidation, parallel one-time consolidation, and mixed consolidation.
Multi-standards consolidation capability
It supports consolidation under multiple accounting standards, including IFRS, US-GAAP, HGB, CAS, and retains the adjustment
Multi-currency conversion capability
The embedded financial model in the platform supports automatic currency conversion for multi-currency reports according to applicable accounting standards and itemizes the differences in conversion
Traceable offset journal entries
It supports the frontend display of the consolidation and offsetting process. Through the system's consolidation and offsetting assistant, users can clearly view the offsetting process and the business data and offsetting rules involved in each offset
Consolidation process monitoring
It supports monitoring the consolidation status. In cases where there are multiple levels of hierarchical consolidation and offsetting, users can view whether the offsetting at each level is finished
Multi-language support
The system menu comes with multiple languages, including English, German, and Chinese, and users can switch these languages by one click.
Key Use Cases and Value
Groups with a large number of subsidiaries; diverse financial systems used by subsidiaries; overseas subsidiaries subordinate to the group;
Report users with multilingual requirements;
Listed companies;
Need to produce financial consolidations and accompanying notes under multiple accounting standards; complex consolidation content and equity relationship logic;
Diversified operations requiring financial consolidations under both statutory and management structures;
Need to generate various financial and operational analysis reports based on consolidation results.
LucaNet, with a mature financial model, offers a good solution against challenges of consolidating financial statements in complex equity structures or multi-tiered group architectures;
Provides solutions against huge secondary development arising from organizational structure changes;
Reconciles conflicts between statutory and management consolidation;
Tackles currency conversion problems and multi-accounting standard reporting issues that have long plagued international groups.
Additionally, the platform offers high data traceability and transparency, empowering users to get a full picture of the consolidation process.
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