It's not what you think; it is Intercompany accounting, and the trouble it is to successfully eliminate the balances in the heat of the monthly close.
The origin of this topic is a conversation among consultants looking at deploying the many tools Oracle provide to make intercompany work. We were in the weeds and decided to stand back and look at our objectives. It is important and possible to engineer the intercompany processes so that they balance out of the box each month, saving time and effort during the close. But it takes GRC – Governance, Risk of error management, and internal Control.
The basic idea is that groups of companies should treat intercompany elimination as an accounting objective when designing intercompany processes and construct the processes with that in mind. We'll look at what the consolidation staff are faced with, at what kind of things that can go wrong, and at specific ways in which they can be avoided from the get go.
See the full deck of the presentation from Tuesday June 14th at Ascend in Las Vegas, and may be save a day in the close! You can download the presentation here.
Yes - We Can !