What is consolidation in SAP EPM-BPC - Business Planning and Consolidation?

SAP Term: consolidation

• Component: EPM-BPC

• Component Name: Business Planning and Consolidation

• Description: The process of adjusting and combining information from the individual financial statements of a parent and its subsidiaries. The result is a consolidated financial statement that presents financial information for the group, represented as a single economic entity.

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• Key Concepts: 
  Consolidation is a process used to combine financial and operational data from multiple sources into a single, unified view. It is used to create a consolidated financial statement that reflects the performance of an entire organization. In SAP EPM-BPC Business Planning and Consolidation (BPC), consolidation is used to combine data from multiple legal entities into a single set of financial statements.
  
  How to use it: 
  In SAP BPC, consolidation is done by creating a consolidation model. This model contains the data from all the legal entities that need to be consolidated. The model also contains the rules and logic for how the data should be combined. Once the model is created, it can be used to generate consolidated financial statements.
  
  Tips & Tricks: 
  When creating a consolidation model, it is important to ensure that all the data sources are properly mapped and that the rules and logic are correctly configured. This will ensure that the consolidated financial statements are accurate and up-to-date.
  
  Related Information: 
  For more information on consolidation in SAP BPC, please refer to the official SAP documentation here: https://help.sap.com/viewer/product/SAP_EPM_BPC_Business_Planning_and_Consolidation/10.0/en-US