Latest blogs
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AI and Financial Consolidation: The Future of Multi-Entity Reporting
AI is already doing useful work in financial consolidation — account mapping suggestions, intercompany transaction matching, anomaly flagging in trial balances. These are real, deployed capabilities that compress the mechanical work of the close cycle. But they represent the early layer of a much larger shift in how multi-entity reporting is done. The more significant…
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UK GAAP vs. US GAAP: Key Differences in Financial Reporting
When operating across the UK and the US, finance teams face a challenge that goes beyond currency conversions — they must reconcile two fundamentally different accounting frameworks. UK GAAP (Generally Accepted Accounting Practice), governed primarily by FRS 102, and US GAAP (Generally Accepted Accounting Principles), governed by the FASB, differ in their philosophy, structure, and…
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Financial Consolidation for SMEs: Is It Necessary and How to Start?
Financial consolidation has a reputation for being something large corporations do — a complex process involving teams of accountants, expensive software, and statutory requirements that only apply once a business reaches a certain scale. In practice, the need for consolidation arrives much earlier. Most SMEs that operate through more than one entity hit the consolidation…
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The Impact of Different Accounting Standards on Financial Consolidation (IFRS vs. GAAP)
When a group has entities reporting under different accounting standards — IFRS, US GAAP, UK GAAP (FRS 102) — the figures from each entity cannot simply be aggregated. Different standards produce materially different numbers for the same underlying economic activity: the same inventory may be valued differently, the same lease may produce different P&L and…
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New Feature: Virtual Groups for Flexible Financial Consolidation in BrizoConsol
In financial consolidation, companies often rely on fixed hierarchies based on legal structures. But what if you need to analyze data from a different perspective—such as by region, business unit, or operational division? BrizoConsol now introduces Virtual Groups, allowing users to create custom hierarchies beyond the default legal company structure. This feature provides greater flexibility…