Consolidated Management Statements
Consolidated Management Statements lay out the financial situation and performance of a group of companies viewed as a single enterprise.
The consolidated management statements, unlike the statutory consolidated financial statements, have two main purposes:
- Responding to regulatory demands, analyzing not only financial statements but also management reports. Therefore, it’s necessary for report creators to provide of extra-accounting information (such as quantitative information on sales, production, purchases or KPI’s) and financial information along with management report in order to develop a cash flow of the business dimensions (ex. products, sales channels, operating divisions or other).
- Frequently analyze the data (monthly or quarterly) in advance of financial statement closing. For this reason, it’s necessary to consolidate the financial statements quickly and integrate data with manual adjustments.
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