Overview of Financial Consolidation

Infor Financial Consolidation is used to create consolidated group financial statements for internal and external audiences.

Financial Consolidation can be used stand-alone, or it can be integrated with Infor Budgeting & Planning.

Financial Consolidation helps users to create processes that are compliant with International Financial Reporting Standards (IFRS) or generally accepted accounting principles (GAAP). This is done by tracking data from source systems to financial reporting in a controlled and auditable way.

To use Financial Consolidation, the module must be provisioned in Farm Expert and then activated in Business Modeling.

To enable Financial Consolidation to work correctly, you must configure the consolidation-specific areas and maintain several business objects and system account settings in Business Modeling.

To access Financial Consolidation, sign in to Infor EPM business applications and select Consolidation from the application list at the top of the navigation panel.

Note: In Financial Consolidation, all financial data is stored only as YTD. However, there are ways to calculate periodic values from YTD. These include Self-Service and custom Application Studio reports, and use of analysis columns in some Financial Consolidation reports.

When you export standard financial reports to a .pdf, .ppt, or .xls file, the file shows the date and time of the export and the name of the user who exports the file.