{"id":732,"date":"2016-10-05T14:37:22","date_gmt":"2016-10-05T14:37:22","guid":{"rendered":"http:\/\/magnetgroupng.com\/Blog\/?p=732"},"modified":"2017-07-18T13:38:54","modified_gmt":"2017-07-18T13:38:54","slug":"lucanet-financial-consolidation-the-software-for-financial-consolidation","status":"publish","type":"post","link":"https:\/\/magnetgroupng.com\/Blog\/blog\/lucanet-financial-consolidation-the-software-for-financial-consolidation\/","title":{"rendered":"LUCANET Financial Consolidation: The Software for Financial Consolidation"},"content":{"rendered":"<p>Financial consolidation involves collaborating the financial data of different departments and internal business entities, usually for structured and accurate reporting purpose. Thereby, providing a comprehensive view of the financial position of both the\u00a0<a href=\"http:\/\/www.investopedia.com\/terms\/p\/parentcompany.asp\">parent company<\/a>\u00a0and its subsidiaries, rather than one company\u2019s stand-alone point.<\/p>\n<p>Many experts advise against using Excel for the consolidation because\u00a0spreadsheets\u00a0don&#8217;t facilitate collaboration, which in turn can lead to a high probability of errors.<\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=5_xAHj_NP5U&amp;feature=youtu.be\"><strong>LUCANET.Financial Consolidation<\/strong><\/a> is a system for businesses, with intuitive operation and transparent data model, which prepares consolidated financial statements and simplifies this task within every single step of the process.<\/p>\n<p>It is also possible to represent complex multi-level group structures in a straight forward way, and not only by companies, but also in parallel structures by segment, region or according to other parameters.<\/p>\n<p>A look at the simplified process of this system.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/magnetgroupng.com\/Blog\/blog\/lucanet-financial-consolidation-the-software-for-financial-consolidation\/lucanet\/\" rel=\"attachment wp-att-733\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-733\" src=\"http:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet.png\" alt=\"lucanet\" width=\"567\" height=\"322\" srcset=\"https:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet.png 567w, https:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet-300x170.png 300w\" sizes=\"auto, (max-width: 567px) 100vw, 567px\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/magnetgroupng.com\/Blog\/blog\/lucanet-financial-consolidation-the-software-for-financial-consolidation\/lucanet-2\/\" rel=\"attachment wp-att-734\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-734\" src=\"http:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet-1.png\" alt=\"lucanet\" width=\"516\" height=\"289\" srcset=\"https:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet-1.png 516w, https:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet-1-300x168.png 300w\" sizes=\"auto, (max-width: 516px) 100vw, 516px\" \/><\/a><\/p>\n<p>Via a fully integrated currency conversion, value for all foreign currency companies is automatically converted to the corresponding group currency.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/magnetgroupng.com\/Blog\/blog\/lucanet-financial-consolidation-the-software-for-financial-consolidation\/lucanet-3\/\" rel=\"attachment wp-att-735\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-735\" src=\"http:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet-2.png\" alt=\"lucanet\" width=\"540\" height=\"341\" srcset=\"https:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet-2.png 540w, https:\/\/magnetgroupng.com\/Blog\/wp-content\/uploads\/2016\/10\/Lucanet-2-300x189.png 300w\" sizes=\"auto, (max-width: 540px) 100vw, 540px\" \/><\/a><\/p>\n<p><strong><em>Features <\/em><\/strong><\/p>\n<p>Delivering fast and accurate financial statements to free up more time and focus on strategic decision making.<\/p>\n<p><strong>Legal consolidation<\/strong><\/p>\n<ul>\n<li>Creation of consolidated financial statements including group P&amp;L, balance sheet and cash flow statement and disclosures<\/li>\n<li>Creation of consolidated financial statements on a monthly, quarterly and annual level<\/li>\n<li>Parallel creation of consolidated financial statements according to any accounting standards (e.g. US-GAAP, IFRS, HGB)<\/li>\n<li>Segment reporting \/ segment consolidation<\/li>\n<li>Representation of any number of companies<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Financial consolidation involves collaborating the financial data of different departments and internal business entities, usually for structured and accurate reporting purpose. Thereby, providing a comprehensive view of the financial position of both the\u00a0parent company\u00a0and its subsidiaries, rather than one company\u2019s stand-alone point. Many experts advise against using Excel for the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":738,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lucanet"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/posts\/732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/comments?post=732"}],"version-history":[{"count":2,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/posts\/732\/revisions"}],"predecessor-version":[{"id":737,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/posts\/732\/revisions\/737"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/media\/738"}],"wp:attachment":[{"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/media?parent=732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/categories?post=732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magnetgroupng.com\/Blog\/wp-json\/wp\/v2\/tags?post=732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}