Annual report
Under the menu point Annual Report, it mainly displays the same elements you are accustomed to working with in the annual settlement module in Period & Year. However, some elements are specially adapted for the group consolidation module.
Settings for Annual Report (gear icon) - new tab Group settings, where settings for the presentation of the annual report, internal order of notes, and selection of accounting rules are chosen. Under the tab Column Setup, there is a choice of what to present in the number columns for both the group and the parent company. Under settings, accounting principles are also selected for both the company and consolidated financial statements separately.
Financial Statements - if a common financial statement layout for the group and parent company is chosen, the work view will show the composition of current and previous year’s columns for both consolidated figures and the company’s financial statements for the parent company.
Notes - If a joint financial statement arrangement is chosen for both the consolidated financial statements and the company financial statements, each note can be adapted to indicate which part of the financial statements the note relates to. In the case of a separate consolidated financial statement, the note function will only apply to the consolidated statements. Furthermore, the note function generally includes the same functionalities as for the company financial statements in Period & Year.
When preparing notes, it can be chosen for each note:
- Common for the company’s financial statements and consolidated financial statements
- Specific information for the company’s financial statements and consolidated financial statements respectively
- Only for the company’s financial statements
- Only for consolidated financial statements
The cash flow statement has functionality for both the parent company and for consolidated financial statements separately. If a common financial statement layout for consolidated figures and the company’s financial statements is chosen, the work view will show the cash flow statement and variables for both consolidated figures and figures for the company’s financial statements on the left side of the screen. The cash flow statement is presented collectively in the financial statements, while work on the cash flow statement is done separately for the company’s financial statements and consolidated figures.
It is possible to choose that the company’s financial statements are performed separately on the parent company client along with the tax return, and that only the group company’s financial statements are prepared in the group consolidation.
Read more about Annual report in year-end closing.