Consolidation in Oracle GL ERP and FCCS EPM Cloud

Oracle Financials Cloud streamlines consolidation process by addressing both accounting transformation and financial reporting challenges.

Oracle Financials Cloud provides an excellent Reporting Platform for Real-time multidimensional, self-service reporting and analytics. You perform Real-time reporting on balances cube on up-to-date consolidated financial balances at any time (vs having to extract from data warehouse). It enables multi-dimensional analysis, pivoting, and drill down.

There are 3 types of consolidation methods, ‘Real Time Reporting Only Consolidation‘ method, the ‘Balance Transfer Consolidation‘ method and Financial Management Consolidations (FCCS) method.

Real Time Reporting Only Consolidation Method:

• If your subsidiaries and your corporate ledger share the same chart of accounts and calendar.
• Easy to use and maintain.
• No balance transfer is required.
• Consolidation can be done on the fly.
• Consolidated reporting of financial statements is leveraged by General Ledger balances cube (Essbase cube) on aggregated balances across companies.

Balance Transfer Method:

• If your subsidiaries and your corporate ledger have either or both different charts of accounts and different calendars.
• Balance Transfer is required from subsidiaries ledgers to parent ledger using mapping definition between chart of accounts

Financial Management Consolidations: If there are complex factors in your financial consolidation requirements such as:

• Complex company structures such as joint ventures, minority interest holdings, partially or fully owned subsidiaries.
• Multiple heterogeneous systems including non general ledger data sources that are required to support non-financial or industry specific metrics, disclosures, and footnote schedules.
• Multiple enterprise resource planning or general ledger instances.