The process of financial consolidation consist of combining financial data from different companies or business entities within an organization, for both statutory and reporting purposes. It includes importing data, mapping general ledgers to a single chart of accounts, normalizing the consolidated data and producing reports (such as Consolidated Financial Statements).
For some corporations, this may result in a complex process and with Oracle Hyperion Financial Management (HFM) we try to minimize this complexity and optimize the financial consolidation processes.
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