Understanding Consolidation Process: Consolidation Dimension
In this section you will learn about consolidation for financial reporting purposes. Financial consolidation is the process of combining financial data from various departments or business entities within an organisation for financial reporting purposes.
Consolidation is the process of gathering data from descendant entities and aggregating the data to parent entities. After you enter or load data into base-level entities, calculate and adjust data, you run a consolidation for a selected Scenario, Year, Period and Entity to aggregate the data throughout the organisation.To facilitate the consolidation process there is a consolidation dimension.
Entity_Input is where data for an entity is entered directly.Entity_Consolidation is where data resides at consolidated entities. It is a dynamic calculated member and is only applicable to the Parent entity. This member is calculated by the sum of all children’s contribution.Entity_Total is aggregation = entity_Input + Any adjustments + entity_consolidation from child entities.Entity_Proportion holds proportional data of an entity_Total Elimination is where intercompany eliminations data is stored.Contribution is aggregation of proportion and elimination values.