Financial Consolidation & Reporting
In recent years there have been many changes affecting the functions of finance and accounting. Pressures are steadily increasing to be able to rapidly assemble a wide range of high-quality data for internal and external purposes. Compliance with international accounting standards and national regulations like the German Accounting Law Reform Act (BilMoG) poses significant challenges. Additionally, the use of increasingly complex financial instruments also has accounting implications (hedge accounting).
Besides ensuring that financial statements conform to accounting standards, companies have to devote increasing efforts to optimize and adapt existing accounting processes for changing requirements. Time savings are not the only goal (fast close), but rather cost savings and enhanced quality (enhanced close).
Cirquent: Partner for more effective and efficient closing processes
Cirquent has a wealth of experience in accounting, consolidation and reporting. We advise companies on compliance with regulatory requirements, designing organizational structures and processes, with forecasting, accounting and measurement issues and with establishing effective system support, such as through SAP standard applications.
Service portfolio
- Creating and configuring accounting structures and processes (shared service center, accounting factory etc.)
- Optimization of accounting and statement processes (e.g. enhanced close)
- Compliance with rules and regulations (IFRS, BilMoG etc.)
- Development and implementation of methods and tools for planning and projections (such as for budgeting and projected depreciation)
- Design and implementation of hedge accounting structures
- Establishing comprehensive and effective financial reporting (e.g. tax reporting)
