Describing Global Parameters and Group Reporting Monitors

Objectives

After completing this lesson, you will be able to:

  • Recall the available monitor functions
  • Set global parameters

Monitors

Group reporting uses two monitors:

  • The Data Monitor for data preparation tasks
  • The Consolidation Monitor for elimination tasks and ownership tasks.

The monitors are used to:

  • Open and close periods
  • Run month-end closing tasks
  • Check the status
  • Ensure a logical sequence and data consistency
  • Provide a one-stop-shop | launchpad for most closing activities.

Data monitor

You use the data monitor to run the activities for collecting and preparing the financial data reported by your consolidation units. These activities are called tasks. The tasks of the data monitor are predefined and ready to use. The system manages the status of the tasks and thus ensures a logical sequence and consistent data.

System screenshot of the data monitor application

Consolidation monitor

Following the data preparation phase, the financial data is ready for consolidation using the Consolidation Monitor. Here you can execute all kinds of intercompany eliminations, manual eliminations, enter or calculate group shares as well as execute Consolidation of Investments and validate consolidated data.

System screenshot of the consolidation monitor application

Global Parameters

Before accessing the monitors, you set the global parameters.

As a result of setting the global parameters, the monitors automatically inherit the data restrictions. Other reports also inherit the same parameter values which reduces manual effort.

System screenshot of the global parameter maintenance screen with pointers to the monitors and reports of group reporting.

Inputs to the following global parameter fields are required:

  • Version: Criteria or valuation methods configured for consolidating different sets of financial data such as actuals or budget data according to different reporting needs.
  • Fiscal year/period: The timeframe of your closing activities.
  • Consolidation chart of accounts: Systematic grouping of financial statement items that belong together and are used on the group reporting or consolidation level.

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