In the product
Consolidation
Consolidate across Tally companies, SAP company codes, Oracle ledgers and QuickBooks entities, with multi-currency translation.
Non-controlling interest
The share of a subsidiary's equity and profit that belongs to shareholders outside the group.
A parent consolidates 100% of a subsidiary it controls, then separates out the portion that is not its own. The group still reports all the revenue; it does not report all the profit as belonging to its own shareholders.
Older statements called it minority interest. The name changed because control, not size, is the test.
Also written: minority interest, NCI.
Related terms: Consolidation, Functional currency, Ind AS.
Written about
Ind AS 118: presenting expenses by function, and the note that comes with it
Present operating expenses by function and Ind AS 118 asks for the nature amounts in one note. Presenting by nature changes that cost, not the choice.
Written about
Budget, actual and forecast in one place
Three numbers, usually in three systems, reconciled by hand each month. What it takes to hold them together so the variance is a fact.
Written about
Cost allocation you can defend in a board meeting
Every allocation is an opinion. The ones that survive questioning have a basis fixed before the result, applied the same way every month.