Dear Experts,
I would like to ask you some suggestions on how to approach the first consolidation in Group Reporting.
The Customer we are working for needs to consolidate in Group Reporting, but the Group exists and has been consolidated for many years. The Customer don't want to consolidate each past years, so we though we could define 2023 as first year consolidation and post manual consolidation adjustments to fix the consolidation reserve, the consolidation translation and retained earnings. This way we should be able to carry forward these adjustments and fix the equity for the futures years.
What is more, the Customer would like to post these adjustments on a dummy company in order to keep these adj separate from the real entities.
Based on your experience, could it works? Is there a best practice to approach the migration in Group Reporting of an existing group managed in Excel ?
Thank you in advance.
Best Regards,
Giulia