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Recommendation on Consolidation setup
Hi All,
let's assume we have the below structure
Holding is UK level 0
US is level 1 , Sweden level 2
UK follows UK Gaap
US follow US Gaap
Sweden follows Sweden Gaap
In terms of NetSuite perspective and how to consider the consolidation.
does it make sense to do the below?
1) have a harmonised international CoA which fits all the three subsidiaries?
2 Primary book is by default local gaap (in this case each subsidiary knows how to book based on the local requirements)
3) in case we would like to consolidate on the basis of Holding UK level 0, we set up an adjustment book call it UK GAAP Consolidation and do the extra adjustments needed for each subsidiary in the adjustment book
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