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Status Will not implement
Workspace Jedox Core Models
Categories Financial Consolidation Model
Created by Guest
Created on Mar 5, 2024

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Equity reclassification and reflection to Investment Register

Challenge: Manual effort to reclassify accounts and no single place to view all the investments

Detail:

  1. Period1: Investor originally invested 200K to Investee (Subsidiary).

  2. Period2: Investee booked 15K as current period retained earnings.

  3. Period2: Investee reclassify current period retained earnings to "Other funds" an Equity account

  4. Period2: Reflect "Other funds" amount to the Investment register of Investor

  5. Period2: Eliminate the amount as part of capital consolidation

Equity reclassi...
Equity reclassification example.xlsx
 Equity reclassification example.xlsx
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Equity reclassification example.xlsx
  • Admin
    Ajish George
    Reply
    |     Mar 7, 2024

    In general, Customer can use manual journal postings to reclassify accounts;

    However as per my high level understanding, according to IFRS, retained earnings of a subsidiary should not reclassify and eliminate for subsequent consolidations in full consolidation method. Approach may be Subsidiary book dividends to investor and investor increase their capital to subsidiary. However request to validate with your auditor for the appropriate method.