Consolidation is 'consolidating different books' into the parent company to get a final pictrue of all subsidary and parent companies put to gether. It may be noted that the currency, coa and calender can be different with these sobs
Above answer was rated as good by the following members: jacksga
Consolidation is the Process of combining the Financial results of different companies typically combining subsidiary accounting information into a parent company.The main purpose of consolidation is for reporting purpose.
Consolidation is the period-end process of combing the financials of separate subsidiary with the pay rent company to from single combine statement of final result
consolidation is one of the reporting tool.consolidation may map the subsidiary set of books to parent set of books even if the set of books values are different using segment rule accounting rule
the company may have different sobs in different countries so we will collect all the financialtransactions(sob) in to one set of book that is parent sob then the company easely findout all the finacial year endingresullts in their functional curency that purpose multiple companies are using consolidation
I think consolidation can be done with two ways that is FSG GCS for FSG it can be done when both parent SOB and Subsidary SOB have Currency Calender COA same then we go for FSG.
In Global consolidation System currency coa calender are different in parent sob and subsidary sob we have to go for GCS.
I am Saikrishna actaully I am pursuing my oracle financials in hyd i just completed one of my module GL institute.
Consolidation is 'consolidating different books' into the parent company to get a final pictrue of all subsidary and parent companies put to gether. It may be noted that the currency coa and calender can be different with these sobs
1 
0