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NCI starting point - transition of data from HFM to FCCS

in Financial Consolidation and Close 1 comment

Summary:

Migrating data from HFM to FCCS - we have a subsidiary with non-controlling interest (NCI) and other comprehensive income (OCI) in a foreign currency. What is the best way to get the starting point of the into the system without having to use contribution input? is there another way? #NCI #OCI

Content (please ensure you mask any confidential information):

what is the best way to set up a starting point for NCI and OCI?

issue with contribution input is that it does not eliminate, must be in parent currency etc… so want the solution to be entity input.

Since NCI should only show up at the parent and not in the entity itself or the holding company - how do we / where do we put in the data for the starting point? We could create a special purpose entity to house the NCI starting point but unsure if that is the correct path… looking for advice / guidance.

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