Video transcript: Accounting Consolidate introduction

Transcript

Each year every company has to report its pension liabilities in their annual financial statements. This is a challenging task for multinationals as it means data collection, liability calculation and decision making for many pension arrangements in a number of different countries. The fact that these pension systems are often governed by national rules with liabilities that are valued using different approaches only adds to the challenge.

Accounting Consolidate, however, makes your life a lot easier.

It is a tool that processes all locally calculated information quick and easy subjecting every calculation to a series of quality checks before uploading them onto one central platform. Accounting Consolidate then runs all necessary calculations to enable you to consolidate your pension liabilities on the balance sheet. It produces a detailed IFRS or US GAAP overview that can be used to provide your consolidated disclosure and can be shared with local business units.

The system also carries out automated pre-audit checks on all results provided flagging any anomalies. This reduces the chance of material errors giving your auditor comfort in the process followed.

The consolidated results are available online enabling you to view your global pension obligations at a glance and to dig in deeper wherever you want to including generating customized reports to suit your business requirements. On top of all that Accounting Consolidate allows you to assess the impact of any change in key assumptions on any of your pension liabilities.

In short using Accounting Consolidate will save you time, provide you with insights during the accounting process and put you in the driver's seat for the year-end reporting of your pension liabilities.

For a demo, please contact your local PwC pensions specialist.