[OAUGNet]-GL Multiple Sets of Books; Translation and Consolidation

["Kathy Farmer" <kathyjfarmer@gmail.com>]

Hello all,

We currently have 3 Sets of Books (USD, CAD and EUR) and are
translating and consolidating into the USD Set of Books. We have
future plans to bring other international entities onto Oracle which
means 17+ additional sets of books, primarily to deal with statutory
reporting and currency. We are contemplating whether we should have a
separate "Consolidating" Set of Books where we consolidate everything,
including the USD set of books. We would then do all the elims/cons in
this "Consolidating" set of books.

We are curious about what other companies with similar situations have done.

In addition, how do other companies handle the need to review
"consolidated" results and analyze "consolidated" balances before the
individual books are actually consolidated? We have been advised to
run translation multiple times for each of these sets of books during
the close and push the translated balances to our management reporting
tool (Essbase) in order to see "consolidated' results. Has anyone had
any experience with doing this in practice?

Thank you.

Kathy Farmer
RHMR
612-719-9435

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