We accountants love our Excel, but let’s; face it: Excel is a great personal productivity tool but is not designed for complex calculations, accounting for multiple lines of business and/or entities or complicated consolidations.

1. Preparing
Consolidation of Accounts
as per Indian GAAP
(AS 21, 23 & 27)

2. Caution
Using Excel
for preparing
Consolidation of Accounts ?????

3. 7 problems of using
EXCEL / SPREADSHEET
for Consolidation of accounts

4. • Problem – 1
Relying on error prone
spreadsheets, which can be
difficult to audit and tie back to
the GL;

5. • Problem – 2
Losing the integrity and sources
of account balances from the
various general ledgers;

6. • Problem – 3
Becoming overly dependent on
one or two consolidation “super
users” to write the complex
macros often need to
consolidate manually;

7. • Problem – 4
Difficulty meeting deadlines as
the parent company becomes
more and more reliant on local
entities closing their books

8. • Problem – 5
Trying to push through
adjustments or allocations to
the local entities for certain pass
through costs

9. • Problem – 6
Ensuring that financial
statements have been prepared
as per the proper accounting
standard and GAAP.

10. • Problem – 7
Enduring sky high audit fees as
public company audit firms need
to increase testing due to
difficulty relying on the
consolidated financial
statements.

11. Above all problems have
one solution!!
Call Consoxle™,
at +91 98985 22734 or
email at consoxle@tarunmasani.in or
visit at consoxle.tarunmasani.in

12. Test your
consolidation knowledge at:
http://consoxle.tarunmasani.in/case-study/test-you-knowledge