Compilation Of Consolidated Annual Financial Statements For Groups

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Financial Statements can be separate per entity or consolidate the statements of a number of entities.

The appendix to IFRS 10 defines consolidated financial statements as the financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent and its subsidiaries are presented as those of a single economic entity. In simpler terms, a consolidated set of annual financial statements portrays the results of the entire group as if it were only one entity with one or more divisions.

To this end, any transactions that are deemed intercompany are eliminated upon consolidation. These include intercompany loans, sales, purchase of assets, settlement of debt, etc. The methodology behind this, as noted above, is to allow only external transactions (those outside the group) to be portrayed in the consolidated financial results.

Affordable price plans

  • Pricing plans
    General Information: Directors' Responsibilities: Company Secretary: Directors' Report: Independent Auditor's Report: Accounting Officer Report: Statement of Financial Position: Statement of Comp. Income: Statement of Changes in Equity: Statement of Cash Flows: Accounting Policies: Notes: Detailed Income Statement: Delivery time:
  • Pricing plans
    Basic

    R10,000.00

    3 companies. Simple journals

    General Information
    Directors' Responsibilities
    Company Secretary
    Directors' Report
    Independent Auditor's Report
    Accounting Officer Report
    Statement of Financial Position
    Statement of Comp. Income
    Statement of Changes in Equity
    Statement of Cash Flows
    Accounting Policies
    Notes
    Detailed Income Statement
    Delivery time 5 Days
    Buy now
  • Pricing plans
    Standard

    R15,000.00

    More than 3 companies. fairly complex journals.

    General Information
    Directors' Responsibilities
    Company Secretary
    Directors' Report
    Independent Auditor's Report
    Accounting Officer Report
    Statement of Financial Position
    Statement of Comp. Income
    Statement of Changes in Equity
    Statement of Cash Flows
    Accounting Policies
    Notes
    Detailed Income Statement
    Delivery time 5 Days
    Buy now
  • Pricing plans
    Medium

    R25,000.00

    More than 10 companies. Complex journals.

    General Information
    Directors' Responsibilities
    Company Secretary
    Directors' Report
    Independent Auditor's Report
    Accounting Officer Report
    Statement of Financial Position
    Statement of Comp. Income
    Statement of Changes in Equity
    Statement of Cash Flows
    Accounting Policies
    Notes
    Detailed Income Statement
    Delivery time 5 Days
    Buy now

Additional services

  • XBRL Report

    iXBRL is a global digital reporting standard for exchanging business information for financial reporting.

    As of 1st July 2018, the CIPC (Companies and Intellectual Property Commission) has made it mandatory for qualifying entities in South Africa to submit their Annual Financial Statements (AFS) in an iXBRL (Inline eXtensible Business Reporting Language) format.

    The CIPC is also encouraging all entities in South Africa to realize the benefits of iXBRL reporting to improve the quality of their Annual Financial Statements (AFS) through CIPC’s comprehensive business validation rules.

    R2,500.00
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Fequently asked questions

What is the maximum number of companies in a consolidated group?

Remote AFS can consolidate up to 50 entities in a single consolidated group. If you are looking to consolidate more than this, get in touch with our team and we’ll see what we can do!

A consistent Chart of Accounts isn’t necessary, but it is recommended. This will help ensure your accounts are correctly consolidated across all of your entities in the group.

Yes! You are able to consolidate entities between Sage, Pastel, Xero, QuickBooks, MYOB or Excel.

Remote AFS does support inter-company eliminations. You can eliminate entire accounts from any underlying companies, or apply specific-value adjustments to accounts.

Yes. Remote AFS prepares consolidated financial statements or reports that are audit-ready.

Yes. Remote AFS does support partial ownerships or minority interests.

Absolutely. We can include a budget for the entire group, or roll up individual budgets from each entity. We can then perform actual vs budget analysis in our reports and dashboards.

Remote AFS supports multi-currency consolidations of up to 50 entities. Get in touch with us if you would like to consolidate more entities than this.

We can use up to 97 different currencies for individual reporting and multi-currency consolidated reporting.

Yes. Remote AFS allows to override default historical exchange rates with custom exchange rates.

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