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Decisions - Consolidation - All for one.
(From Financial Director)
Byline: Anthony Harrington.
Consolidation exercises across a large group of companies can either be a tedious way to meet statutory requirements or they can yield vital management information. They can be a stumbling block in the way of the group closing its books, or they can expedite the process by making a 'virtual close' possible.
According to Nigel Youell, MD at systems house Hyperion, companies such as Motorola and Cisco Systems are able to close their books within hours of a period-end because vital information is on a single chart of accounts and compiled centrally all the time. This ability to carry out a ...
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