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Consoxle ™

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sandesh mundra
sandesh mundra

Through this presentation we intend to introduce our new software on preparation of Consolidated Financial Statements. This web based software automates all the processes involved in consolidation like Goodwill / Minority / Proportionate Consolidation / Equity Impact Entries / Line By Line presentation. We also intend to cover all the GAAP's through this.

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CONSOXLE ™LETS AUTOMATE CONSOLIDATION…….. Aarna Soft Solutions Private Limited
Challenges in Consolidation:  Multi Currency  Various methods of consolidation  Various Accounting Standards (AS, IFRS, etc.)  Various types of entities: Partnership firm, Private Limited companies, Limited companies  Various Relationships in consolidation: Subsidiaries, Joint Venture, Associates, etc  Out of books effects – Goodwill / Minority
Current Scenario  Time and Repetitions  Staff Deployment  Human Dependency  Lack of Reliability  Bulky Data  Decentralised Working not possible
Solution offered by CONSOXLE™ Software
Consolidation Process Currency Adjustment JV Proportion Goodwill Intra Group Transactions Accounting Policies Adjustment Equity Impact Minority Fixed Assets Schedule Upload Trial Balances LBLA Profit and Loss Account Balance Sheet Consolidation Setup Master One time activity Tally Upload Excel Upload Ledgers / Day Book
Master Setup 1. Group Master 2. Company Master 3. Group Company Profile (Hierarchy) Master 4. Group Chart of Accounts (COA) Master 5. Project ID 6. Authorised Person / Auditor Signatory
Set up Group Company Hierarchy Master
Trial Balance 1. ACTB Upload 2. Tally TB Upload 3. TB Validation 4. TB Comparison 5. TB Removal 6. LBLA
Upload Trial Balances On Screen Entry Excel Upload
Process 1. Foreign Currency – Integral / Non-integral 2. Proportionate Consolidation Process 3. Goodwill 4. Self Made Company Capital Elimination 5. Intercompany Transactions 6. Manual Entries 7. Equity Impact 8. Minority Interest
Goodwill Process in Consoxle ™
Goodwill of Associates:
Goodwill of Subsidiary
Minority Interest in Consoxle ™
Share of Minority Interest on Post Acquisition Profit
Multi level consolidation Holding Subs1 Subs1 Sub 1 Subs1 JV 1 Subs1 Ass1 Joint1 Joint1 Sub1 Ass1 Ass1 Sub1
Reports 1. Goodwill Report 2. Minority Report 3. Vouchers 4. Day Book 5. General Ledger 6. Standalone BS and PL & Schedules 7. LBLA 8. Fixed Assets Report 9. Consolidated BS and PL & Schedules 10. GL Wise Break up – Last mile details 11. Ratio Analysis
1. Goodwill Report
2. Minority Report
LBLA – Line by Line Addition
Standalone & Consolidated Balance sheet & Profit and Loss Account
Multi Level Consolidation
Security Feature  Authentication  User ID and Password  Authorisation  Role base access to specified entities and report.  Can be easily configured as per your company’s requirements.  Back end database (Oracle 10G)  Stable database, no accidental modification and deletion of data or formulas (which can happen in spreadsheet)
Benefits of using Consoxle™ for consolidation  On time consolidation  Assured accuracy  Avoid errors caused by manual processing spreadsheets.  Save efforts  Enable sharing & parallel processing of workload, elimination.  Automate several computation to save manual efforts.  Multi Currency
Benefits of using Consoxle™ for consolidation … Continue  Reduce person dependency without losing consistency.  Robust securities  Line by line addition report (LBLA)  Pre-loaded report formats: Revised Schedule VI  Multi level consolidation
Benefits of using Consoxle™ for consolidation … Continue  Web Based Solution  Output in Excel/PDF  Audit Trail Report
Extra Features….  Effect of Changes in Relationship  Effect of Changes in % Holding  C/f of Past Entries  IFRS Reporting  Cash Flow Statements  Notes to Accounts  Auditor’s Report
Technologies  Developed on:  Java/J2ee  JavaScript-AJAX  Servlet-JSP  Oracle 10g  Apache Tomcat  Tested By:  Expert Chartered Accountants
Console ™ Implementation Week-1 • Deliver the software • Install and Configure database • Create users and authorization Week-2 • Create entities and hierarchies • Create reporting structure • Create other masters like Currency, Goodwill, Minority, ect. Week-3 & 4 • Users Training • Hands on practice upload your previous period TB generate reports which match with the published numbers
Console ™ Output Generation Day-1 • Upload Trial Balance • Validate Day -2 • Carry out Processes • Validate • Generate Consolidated Financial Statements
 Team  Dr Kalpesh Parikh  CA Sandesh Mundra  CA Suman Mundra  Separate Teams for Development / On Site Implementation & Support / Testing Team
Team Leader - Development Dr Kalpesh Parikh Ph.D – Computer and Info Sc 28 Years of IT Experience mySAP Business Suite , Customized ERP, SAS, IBM Rational Suite, Solution Manager, BPM Tool, WAP, Java, .NET, Coldfusion in Textile, Manufacturing, Financial, Retail , Media, Restaurant, Jewelry, Education , Construction, Out of Home, Business Process Management 10 + Years Process Experience QMS - ISO 9000 Lead Auditor and Empanelled BVQI & BSI and CI,UK ISMS - ISO 27001 Lead Auditor – Empanelled with BSI and CI,UK SSE-CMM-ISO 21827 Lead Appraiser System Security Engineering–Capability Maturity Model ITSM-ISO 20000 – IT Service management – First Course in World outside UK Experience on ISO 12207-Software Life Cycle Development (Adopted by DOD,US)
Team Leader - Domain CA Sandesh Mundra Fellow Chartered Accountant with hands on experience and expertise in Internal Audits, Statutory Audits & Preparation of Consolidated Financial Statements Post Qualification Academics Diploma in Information System Audits Diploma in Insurance and Risk Management IFRS Certified by ICAI Faculty on the Topics of “Business Combination” and “Consolidated Financial Statements” for the IFRS course organised by Mumbai and Ahmedabad Chapter of The Institute of Chartered Accountants of India Experience in Consolidation of Accounts of a corporates with more than 100 group concerns.
SHANTIKRUPA ESTATES PVT LTD Icons Who have trusted our Team in the Past Hashmukh Shah Group Government Agencies UGC-AICTE-INFLIBNET-AMC Government Corporations GSFC-GIIC-GAIC-GIDC
Contact Details Aarna Soft Solutions Private Limited Email: info@aarnasoft.net Mobile: +91 9426024975 Web: www.consolidationofaccounts.com Thank You !

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Consoxle ™

  • 1. CONSOXLE ™LETS AUTOMATE CONSOLIDATION…….. Aarna Soft Solutions Private Limited
  • 2. Challenges in Consolidation:  Multi Currency  Various methods of consolidation  Various Accounting Standards (AS, IFRS, etc.)  Various types of entities: Partnership firm, Private Limited companies, Limited companies  Various Relationships in consolidation: Subsidiaries, Joint Venture, Associates, etc  Out of books effects – Goodwill / Minority
  • 3. Current Scenario  Time and Repetitions  Staff Deployment  Human Dependency  Lack of Reliability  Bulky Data  Decentralised Working not possible
  • 5. Consolidation Process Currency Adjustment JV Proportion Goodwill Intra Group Transactions Accounting Policies Adjustment Equity Impact Minority Fixed Assets Schedule Upload Trial Balances LBLA Profit and Loss Account Balance Sheet Consolidation Setup Master One time activity Tally Upload Excel Upload Ledgers / Day Book
  • 6. Master Setup 1. Group Master 2. Company Master 3. Group Company Profile (Hierarchy) Master 4. Group Chart of Accounts (COA) Master 5. Project ID 6. Authorised Person / Auditor Signatory
  • 7. Set up Group Company Hierarchy Master
  • 8. Trial Balance 1. ACTB Upload 2. Tally TB Upload 3. TB Validation 4. TB Comparison 5. TB Removal 6. LBLA
  • 9. Upload Trial Balances On Screen Entry Excel Upload
  • 10. Process 1. Foreign Currency – Integral / Non-integral 2. Proportionate Consolidation Process 3. Goodwill 4. Self Made Company Capital Elimination 5. Intercompany Transactions 6. Manual Entries 7. Equity Impact 8. Minority Interest
  • 11. Goodwill Process in Consoxle ™
  • 14. Minority Interest in Consoxle ™
  • 15. Share of Minority Interest on Post Acquisition Profit
  • 16. Multi level consolidation Holding Subs1 Subs1 Sub 1 Subs1 JV 1 Subs1 Ass1 Joint1 Joint1 Sub1 Ass1 Ass1 Sub1
  • 17. Reports 1. Goodwill Report 2. Minority Report 3. Vouchers 4. Day Book 5. General Ledger 6. Standalone BS and PL & Schedules 7. LBLA 8. Fixed Assets Report 9. Consolidated BS and PL & Schedules 10. GL Wise Break up – Last mile details 11. Ratio Analysis
  • 20. LBLA – Line by Line Addition
  • 21. Standalone & Consolidated Balance sheet & Profit and Loss Account
  • 23. Security Feature  Authentication  User ID and Password  Authorisation  Role base access to specified entities and report.  Can be easily configured as per your company’s requirements.  Back end database (Oracle 10G)  Stable database, no accidental modification and deletion of data or formulas (which can happen in spreadsheet)
  • 24. Benefits of using Consoxle™ for consolidation  On time consolidation  Assured accuracy  Avoid errors caused by manual processing spreadsheets.  Save efforts  Enable sharing & parallel processing of workload, elimination.  Automate several computation to save manual efforts.  Multi Currency
  • 25. Benefits of using Consoxle™ for consolidation … Continue  Reduce person dependency without losing consistency.  Robust securities  Line by line addition report (LBLA)  Pre-loaded report formats: Revised Schedule VI  Multi level consolidation
  • 26. Benefits of using Consoxle™ for consolidation … Continue  Web Based Solution  Output in Excel/PDF  Audit Trail Report
  • 27. Extra Features….  Effect of Changes in Relationship  Effect of Changes in % Holding  C/f of Past Entries  IFRS Reporting  Cash Flow Statements  Notes to Accounts  Auditor’s Report
  • 28. Technologies  Developed on:  Java/J2ee  JavaScript-AJAX  Servlet-JSP  Oracle 10g  Apache Tomcat  Tested By:  Expert Chartered Accountants
  • 29. Console ™ Implementation Week-1 • Deliver the software • Install and Configure database • Create users and authorization Week-2 • Create entities and hierarchies • Create reporting structure • Create other masters like Currency, Goodwill, Minority, ect. Week-3 & 4 • Users Training • Hands on practice upload your previous period TB generate reports which match with the published numbers
  • 30. Console ™ Output Generation Day-1 • Upload Trial Balance • Validate Day -2 • Carry out Processes • Validate • Generate Consolidated Financial Statements
  • 31.  Team  Dr Kalpesh Parikh  CA Sandesh Mundra  CA Suman Mundra  Separate Teams for Development / On Site Implementation & Support / Testing Team
  • 32. Team Leader - Development Dr Kalpesh Parikh Ph.D – Computer and Info Sc 28 Years of IT Experience mySAP Business Suite , Customized ERP, SAS, IBM Rational Suite, Solution Manager, BPM Tool, WAP, Java, .NET, Coldfusion in Textile, Manufacturing, Financial, Retail , Media, Restaurant, Jewelry, Education , Construction, Out of Home, Business Process Management 10 + Years Process Experience QMS - ISO 9000 Lead Auditor and Empanelled BVQI & BSI and CI,UK ISMS - ISO 27001 Lead Auditor – Empanelled with BSI and CI,UK SSE-CMM-ISO 21827 Lead Appraiser System Security Engineering–Capability Maturity Model ITSM-ISO 20000 – IT Service management – First Course in World outside UK Experience on ISO 12207-Software Life Cycle Development (Adopted by DOD,US)
  • 33. Team Leader - Domain CA Sandesh Mundra Fellow Chartered Accountant with hands on experience and expertise in Internal Audits, Statutory Audits & Preparation of Consolidated Financial Statements Post Qualification Academics Diploma in Information System Audits Diploma in Insurance and Risk Management IFRS Certified by ICAI Faculty on the Topics of “Business Combination” and “Consolidated Financial Statements” for the IFRS course organised by Mumbai and Ahmedabad Chapter of The Institute of Chartered Accountants of India Experience in Consolidation of Accounts of a corporates with more than 100 group concerns.
  • 34. SHANTIKRUPA ESTATES PVT LTD Icons Who have trusted our Team in the Past Hashmukh Shah Group Government Agencies UGC-AICTE-INFLIBNET-AMC Government Corporations GSFC-GIIC-GAIC-GIDC
  • 35. Contact Details Aarna Soft Solutions Private Limited Email: info@aarnasoft.net Mobile: +91 9426024975 Web: www.consolidationofaccounts.com Thank You !