Ledger Question: Download Ledger PDF
Tell me what are the procedures of elimination during consolidation of financial statements?
Answer:
After transferring the subsidiary data to the parent set of books, combine the subsidiary and parent data.
Once parent and subsidiary data has been combined, enter eliminating journal entries.
* Choose the State Controller's Eliminate button to create journal entries in the parent set of books for consolidation eliminations.
* Create elimination sets with which you can define eliminating entries that repeat every accounting period.
Once parent and subsidiary data has been combined, enter eliminating journal entries.
* Choose the State Controller's Eliminate button to create journal entries in the parent set of books for consolidation eliminations.
* Create elimination sets with which you can define eliminating entries that repeat every accounting period.
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