Click on the elements below to learn more about the technical specifications behind
AFC Consolidator and AFC Business Finance
Reconciliation and elimination of intercompany transactions and balances including intercompany controlling reports
Currency conversion from unlimited number of currencies to one or more reporting currencies including currency adjustments
Recognition of result from group companies including value adjustment of investments, minorities and pro rata handling, and eliminations
Cash flow are set up appropriately to fit the group and to populate cash flow automatically
Recognition of goodwill including depreciation according to lifetime. Possibilities to recognize amortization/impairment with effect on time/amount
In AFC Consolidator it is fast and easy to setup rules for reclassification of accounts or groups of accounts. You simply select the accounts in scope and define the usual sign. This way, you do not have to worry about negative asset values of for example VAT or bank accounts. This function eliminates the need of manual reclassification of accounts where classification varies from one period to another. Rules are setup directly in the AFC Platform making you able to setup new rules as you need them.
AFC Consolidator facilitates recognition and elimination of intercompany transactions and balances on different group levels and support intercompany controlling reports for identifying any differences between accounts. You are able to define the rules yourself directly in the AFC Platform, making you able to setup new and change existing elimination rules on your own.
Based on input exchange rates, AFC Consolidator is capable of handling all kinds of currency conversions on an unlimited number of currencies to one or more reporting currencies, including any currency adjustments. Whether you decide to import exchange rates automated or typing them manually, AFC Consolidator will handle transactions in foreign currencies both on transaction and/or group level. You are able to define directly how you want to apply exchange rates to different account types. Exchange differences in investments are automatically handled directly on the equity and can be customized to fit your exact business needs.
AFC Consolidator provides you with a flexible solution of handling investments and divestments of group companies. Automated recognition of the result from group companies including value adjustments of investments, minorities and prorate handling and eliminations across groups and subgroups. All rules apply on all group levels from lowest to top, providing your with transparent numbers in no time. You can define the reporting currency of the specific investment making local numbers available for subgroups’ finance departments and you are able to switch from one currency to group reporting currency by one click.
AFC Consolidator gives you the possibility to handle goodwill directly in the platform. You are able to define the depreciation period according to lifetime and input impairment amounts on any date if relevant, and AFC Consolidator will automatically make the relevant postings directly in your output data. When investing or divesting in a company, you input the transactions in AFC Consolidator and make the system take care of the rest. This naturally works in combination with currency adjustments in the group structure.
Cash flow rules are setup appropriately to fit the group and to populate cash flow automatically. You will have to define the cash flow hierarchy and afterwards ‘map’ accounts or groups of accounts to the different cash flow statement accounts. You are able to see movements for example in a period or summed year-to-date depending on your specific needs. You are also able to customize the setup of how you want currency differences presented.