What is consolidated financial statements in SAP EC-CS - Consolidation?

SAP Term: consolidated financial statements

• Component: EC-CS

• Component Name: Consolidation

• Description: The consolidated financial statements are disclosed by corporate groups. These statements are the result of the consolidation of two or more individual financial statements of the group's subsidiaries and affiliates.

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• Key Concepts: 
  Consolidated financial statements are a set of financial statements that combine the financial information of multiple legal entities into one set of financial statements. The EC-CS Consolidation component of SAP allows companies to consolidate their financial statements in a single system, eliminating the need for manual consolidation processes. 
  
  How to use it: 
  The EC-CS Consolidation component of SAP allows companies to consolidate their financial statements in a single system. This component provides users with the ability to define and maintain the consolidation structure, create and manage consolidation plans, and generate consolidated financial statements. 
  
  Tips & Tricks: 
  When using the EC-CS Consolidation component, it is important to ensure that all data is up-to-date and accurate. Additionally, it is important to ensure that all legal entities are included in the consolidation process. 
  
  Related Information: 
  The EC-CS Consolidation component is part of the SAP Financial Consolidation solution, which provides companies with a comprehensive solution for consolidating their financial statements. Additionally, the SAP Financial Consolidation solution provides users with the ability to analyze and report on consolidated financial information.