Consoxle ™


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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 ™

  1. 1. CONSOXLE ™LETS AUTOMATE CONSOLIDATION……..Aarna Soft Solutions Private Limited
  2. 2. Challenges in Consolidation: Multi Currency Various methods of consolidation Various Accounting Standards (AS, IFRS, etc.) Various types of entities: Partnership firm, PrivateLimited companies, Limited companies Various Relationships in consolidation: Subsidiaries,Joint Venture, Associates, etc Out of books effects – Goodwill / Minority
  3. 3. Current Scenario Time and Repetitions Staff Deployment Human Dependency Lack of Reliability Bulky Data Decentralised Working not possible
  4. 4. Solution offered byCONSOXLE™ Software
  5. 5. Consolidation ProcessCurrencyAdjustmentJV ProportionGoodwillIntra GroupTransactionsAccountingPoliciesAdjustmentEquity ImpactMinorityFixed AssetsScheduleUploadTrialBalancesLBLAProfit andLossAccountBalanceSheetConsolidationSetupMasterOne timeactivityTallyUploadExcelUploadLedgers /Day Book
  6. 6. Master Setup1. Group Master2. Company Master3. Group Company Profile (Hierarchy) Master4. Group Chart of Accounts (COA) Master5. Project ID6. Authorised Person / Auditor Signatory
  7. 7. Set up Group Company Hierarchy Master
  8. 8. Trial Balance1. ACTB Upload2. Tally TB Upload3. TB Validation4. TB Comparison5. TB Removal6. LBLA
  9. 9. Upload Trial BalancesOn ScreenEntryExcelUpload
  10. 10. Process1. Foreign Currency – Integral / Non-integral2. Proportionate Consolidation Process3. Goodwill4. Self Made Company Capital Elimination5. Intercompany Transactions6. Manual Entries7. Equity Impact8. Minority Interest
  11. 11. Goodwill Process in Consoxle ™
  12. 12. Goodwill of Associates:
  13. 13. Goodwill of Subsidiary
  14. 14. Minority Interest in Consoxle ™
  15. 15. Share of Minority Interest on PostAcquisition Profit
  16. 16. Multi level consolidationHoldingSubs1Subs1 Sub 1 Subs1 JV 1 Subs1 Ass1Joint1Joint1 Sub1Ass1Ass1 Sub1
  17. 17. Reports1. Goodwill Report2. Minority Report3. Vouchers4. Day Book5. General Ledger6. Standalone BS and PL & Schedules7. LBLA8. Fixed Assets Report9. Consolidated BS and PL & Schedules10. GL Wise Break up – Last mile details11. Ratio Analysis
  18. 18. 1. Goodwill Report
  19. 19. 2. Minority Report
  20. 20. LBLA – Line by Line Addition
  21. 21. Standalone & Consolidated Balance sheet &Profit and Loss Account
  22. 22. Multi Level Consolidation
  23. 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’srequirements. Back end database (Oracle 10G) Stable database, no accidental modification anddeletion of data or formulas (which can happen inspreadsheet)
  24. 24. Benefits of using Consoxle™ for consolidation On time consolidation Assured accuracy Avoid errors caused by manual processingspreadsheets. Save efforts Enable sharing & parallel processing of workload,elimination. Automate several computation to save manual efforts. Multi Currency
  25. 25. Benefits of using Consoxle™ for consolidation… Continue Reduce person dependency without losingconsistency. Robust securities Line by line addition report (LBLA) Pre-loaded report formats: Revised Schedule VI Multi level consolidation
  26. 26. Benefits of using Consoxle™ for consolidation… Continue Web Based Solution Output in Excel/PDF Audit Trail Report
  27. 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. 28. Technologies Developed on: Java/J2ee JavaScript-AJAX Servlet-JSP Oracle 10g Apache Tomcat Tested By: Expert Chartered Accountants
  29. 29. Console ™ ImplementationWeek-1• Deliver thesoftware• Install andConfiguredatabase• Create usersandauthorizationWeek-2• Create entitiesand hierarchies• Create reportingstructure• Create othermasters likeCurrency,Goodwill,Minority, ect.Week-3 & 4• Users Training• Hands onpractice uploadyour previousperiod TBgenerate reportswhich match withthe publishednumbers
  30. 30. Console ™ Output GenerationDay-1• Upload Trial Balance• ValidateDay -2• Carry out Processes• Validate• GenerateConsolidatedFinancial Statements
  31. 31.  Team Dr Kalpesh Parikh CA Sandesh Mundra CA Suman Mundra Separate Teams for Development / On SiteImplementation & Support / Testing Team
  32. 32. Team Leader - DevelopmentDr Kalpesh ParikhPh.D – Computer and Info Sc28 Years of IT ExperiencemySAP Business Suite , Customized ERP, SAS, IBM Rational Suite, SolutionManager, BPM Tool, WAP, Java, .NET, Coldfusion inTextile, Manufacturing, Financial, Retail , Media, Restaurant, Jewelry, Education ,Construction, Out of Home, Business Process Management10 + Years Process ExperienceQMS - ISO 9000 Lead Auditor and Empanelled BVQI & BSI and CI,UKISMS - ISO 27001 Lead Auditor – Empanelled with BSI and CI,UKSSE-CMM-ISO 21827 Lead Appraiser System Security Engineering–Capability Maturity ModelITSM-ISO 20000 – IT Service management – First Course in World outside UKExperience on ISO 12207-Software Life Cycle Development (Adopted by DOD,US)
  33. 33. Team Leader - DomainCA Sandesh MundraFellow Chartered Accountant with hands on experience and expertise in InternalAudits, Statutory Audits & Preparation of Consolidated Financial StatementsPost Qualification AcademicsDiploma in Information System AuditsDiploma in Insurance and Risk ManagementIFRS Certified by ICAIFaculty on the Topics of “Business Combination” and “Consolidated FinancialStatements” for the IFRS course organised by Mumbai and Ahmedabad Chapterof The Institute of Chartered Accountants of IndiaExperience in Consolidation of Accounts of a corporates with more than 100group concerns.
  34. 34. SHANTIKRUPAESTATES PVT LTDIcons Who have trusted our Team in the PastHashmukh Shah GroupGovernment AgenciesUGC-AICTE-INFLIBNET-AMCGovernment CorporationsGSFC-GIIC-GAIC-GIDC
  35. 35. Contact DetailsAarna Soft Solutions Private LimitedEmail: info@aarnasoft.netMobile: +91 9426024975Web: www.consolidationofaccounts.comThank You !