How to prepare consolidated financial statements

How to prepare consolidated financial statements

Consolidated financial statements can be prepared by creating:


1. Multiple engagement files (multiple entity trial balances)

    This will require the setting up of a consolidation,  and the importing  of a trial balance into each engagement file.

      
    Click on the following link for guidance using this option:

    How to create a consolidation hierarchy


2. A standalone engagement file (single consolidated trial balance)

To prepare consolidated financial statements within a standalone file:

 

  1. Click on the Entity and reporting information optimiser.



  1. The financial statements are not defined as consolidated by default.

         Next to the question: Are these consolidated financial statements? untick the

                        default selection No.

                     


  1. Click the Yes button.

  1. Import the consolidated trial balance into the engagement file


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