Some of the banks operate in the market as individual or incorporated entities and their responsibility is to create only the individual statements, so called “solo” reports. However, the majority of the banks cooperate in financial conglomerates, consolidated groups or groups of groups, etc. These banks are required to submit their consolidated XBRL reports. To meet these needs, we added to aSISt report builder another specialized, functional module called the consolidation module.
The consolidation module supports a consolidated report preparation according to the “financial statements consolidation” method. Individual XBRL reports and consolidation adjustments are merged into the final consolidated report.
The consolidation module is applicable in a variety of situations when the consolidation is required:
- several banks cooperate as a consolidated group (financial conglomerate, merger, etc.)
- several banks are in a merger or during the merger process
- one of the entities is required to report on behalf of a group and needs to collect and put together a few individual “solo” reports
- one of the entities needs to put together its consolidated report with “solo” or consolidated report of another bank
- some members of one group of banks use different reporting systems and their XBRL “solo” reports have to be consolidated
- and more.