What is simultaneous consolidation in SAP FI-LC - Consolidation?

SAP Term: simultaneous consolidation

• Component: FI-LC

• Component Name: Consolidation

• Description: A consolidation procedure that processes all of the investments in the subgroup in a single step as well as the resulting minority interest, when consolidating a specific investee company. This procedure is marked by the calculation of the differential from the consolidation of investments, which is the difference between the investments of the immediate parent company and the group's portion of the the investee's shareholders' equity. Simultaneous consolidation is beneficial for complex investment structures, especially non hierarchical ones, and provides accurate analyses of the ownerships.

Smart SAP Assistant

• Key Concepts: 
  Simultaneous consolidation is a feature of the FI-LC Consolidation component of SAP software. It allows for the consolidation of multiple legal entities into one financial statement in a single step. This eliminates the need for manual consolidation and reduces the time and effort required to produce consolidated financial statements. 
  
  How to use it: 
  To use simultaneous consolidation, you must first set up the legal entities that you want to consolidate. This includes setting up the chart of accounts, defining the consolidation rules, and mapping the accounts between the entities. Once this is done, you can run the consolidation process to generate a consolidated financial statement. 
  
  Tips & Tricks: 
  When setting up simultaneous consolidation, it is important to ensure that all of the legal entities have been properly mapped and that all of the accounts are correctly linked. This will ensure that the consolidated financial statement is accurate and up-to-date. Additionally, it is important to regularly review and update the consolidation rules to ensure that they are still valid and relevant. 
  
  Related Information: 
  For more information on simultaneous consolidation, please refer to SAP's official documentation on FI-LC Consolidation. Additionally, there are many online resources available that provide tutorials and tips on how to use this feature effectively.