Financial statement grouping and consolidation of the parent and subsidiaries in a unique report

The financial statement grouping and consolidation of the parent and subsidiaries in a unique report is a service required by those companies or business groups that have parent/subsidiary.

Objective of the unique report

The objective of the unique report is to have the information analysis of all companies or business units that are part of a business group in the same format and with homogenized accounting.

The financial statement grouping of the parent and subsidiaries in a unique report is an instrument that allows us to have individual and group data in one file in order that the analysis and comparisons are the most effective and efficient.

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In the internationalization processes, it is essential to have a consulting business to help the company to know keys and risks at the accounting, legal, labor and tax level in order to comply with all the obligations and avoid unpleasant surprises, due to ignorance and bad advice.

Advantages of the unique report

The financial statement grouping of the parent and subsidiaries in a unique report offers several benefits to the business group, such as:

Homogenization and accounting reconciliation

To ensure that the information to be analyzed in different companies or business units is comparable.

Quality of information received

The financial statement grouping of the parent and subsidiaries in a report will be the base so that the main parent step forward in decision-making. This will be essential to carry out the follow-up and analytical, accounting and tax assessment of each of their companies or business units in order to adjust appropriate management policies.

Tax optimization

In line with all information already carried out by UR Global — during the process of financial statement grouping of the parent and subsidiaries in a unique report — will be carried out a complete review of all operations of each of the companies or business units. Therefore, a greater tax optimization can be achieved. This tax review will be complemented by a report detailing the advantages and disadvantages that may be in the operations of each of the companies or business units. Therefore, the most optimal decisions will be taken for the whole group.

Along with the relevant consulting and advisory, we may review the most common problems that usually happen and take advantage of the opportunities that were not previously considered, such as:

  • Investment or production wrongly geolocated.
  • Poorly targeted intercompany operations.
  • Expenditure control and benefits individually and collectively.

Administrative saving

The staff (Financial Directors, Boards of Directors and Partners) in charge of the main parent with the financial statement grouping of the parent and subsidiaries in a unique report will not have to request their EEFF to each company or business unit or waste time in organizing and understanding each of the files received. UR Global will be responsible for being in direct contact with each of those responsible, as well as to prepare information according to customer’s request so that the saving time is very important.

Why it is necessary to request the unique report service to UR Global?

Our vast experience and presence in different countries of Latin America: Brazil, Mexico, Colombia, Peru, Chile, Portugal and Spain facilitates our communication management. By having a team in Spain dedicated entirely to the development of unique reports, we have time and knowledge to interact in the countries where we are not present.

Frequently asked questions on financial statement grouping of the parent and subsidiaries in a unique report

Yes, although consolidation is not compulsory, in all cases is important for the group management. When intercompany operations are localized, we will have strength to understand more easily if subsidiaries are profitable or not; companies that would not survive on their own if they did not have the parent’s financial support.

If we have the knowledge, we can recognize if the group’s growth is and added value or is stopping. In implementing the necessary adjustments, we remove that false view of stability. If to the above we add the conciliation proceedings that will take place at the beginning, the comparisons will be more real because we can analyze the same items with the same concepts in each of the companies or business units.

Each company group is unique, as well as their needs, and that is what we want to transmit. The financial statement grouping of the parent and subsidiaries in a unique report have customized development. In previous meetings, we built together the unique report that is customized for each customer. Some of the items that we usually develop for a better analysis of each of the companies or business units are:

  • Statement of income and balance per company, business unit and country in local currency.
  • Statement of income and balance of the Group in Euros; grouped and/or consolidated.
  • Comparisons with previous years and/or budgets.
  • Financial ratios that we defined together in previous meetings according to the needs of the main parent (liquidity, borrowing or leverage, profitability, management or activity…)
  • That file will go along with a report where will be explained the relevant data produced in each of the subsidiaries (difference in sales, costs, results…).

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