What is company consolidation in SAP EC-CS - Consolidation?

SAP Term: company consolidation

• Component: EC-CS

• Component Name: Consolidation

• Description: A consolidation type in which companies are depicted as consolidation units. The companies report their individual financial statement data to the system.

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• Key Concepts: 
  Company consolidation is a process used to combine the financial data of multiple companies into one consolidated financial statement. This process is used to provide a comprehensive overview of the financial performance of a group of companies. The SAP EC-CS Consolidation component is a tool that helps companies automate and streamline the consolidation process. 
  
  How to use it: 
  The EC-CS Consolidation component provides users with a range of features to help them manage their consolidation process. These features include the ability to define and manage consolidation hierarchies, create and manage consolidation plans, and generate consolidated financial statements. The component also provides users with the ability to monitor and analyze the performance of their consolidated entities. 
  
  Tips & Tricks: 
  When using the EC-CS Consolidation component, it is important to ensure that all data is accurate and up-to-date. This can be done by regularly reconciling the data between the different entities in the consolidation hierarchy. Additionally, it is important to ensure that all relevant data is included in the consolidation process, as this will ensure that the consolidated financial statements are accurate and reliable. 
  
  Related Information: 
  The EC-CS Consolidation component is part of SAP’s Enterprise Resource Planning (ERP) suite of products. Other components in this suite include Financial Accounting (FI), Controlling (CO), Materials Management (MM), and Human Capital Management (HCM). These components can be used in conjunction with the EC-CS Consolidation component to provide a comprehensive view of an organization’s financial performance.