What is consolidated balance sheet in SAP FI-LC - Consolidation?

SAP Term: consolidated balance sheet

• Component: FI-LC

• Component Name: Consolidation

• Description: A consolidated balance sheet is one that contains the translated corporate valuation of the individual financial statements and the consolidation entries.

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• Key Concepts: 
  A consolidated balance sheet is a financial statement that combines the balance sheets of multiple subsidiaries into one. It is used to provide an overall view of the financial position of a group of companies. The FI-LC Consolidation component in SAP allows companies to create and manage consolidated balance sheets. 
  
  How to use it: 
  The FI-LC Consolidation component in SAP allows users to create and manage consolidated balance sheets. It provides a comprehensive set of tools for creating, managing, and analyzing consolidated financial statements. It also provides features for creating and managing intercompany transactions, as well as for reconciling differences between the consolidated balance sheet and the individual balance sheets of the subsidiaries. 
  
  Tips & Tricks: 
  When creating a consolidated balance sheet, it is important to ensure that all subsidiaries are included in the consolidation process. Additionally, it is important to ensure that all intercompany transactions are properly accounted for in the consolidated balance sheet. 
  
  Related Information: 
  The FI-LC Consolidation component in SAP is part of the Financial Accounting (FI) module. It is closely related to other components in the FI module, such as General Ledger Accounting (G/L) and Accounts Payable (AP). Additionally, it is related to other modules, such as Controlling (CO) and Materials Management (MM).