Accounting reconciliation

What Does Accounting Reconciliation Include?

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Rulebook on the recognition, valuation, presentation, and disclosure of positions in individual financial statements – Micro and other (non-profit) legal entities
IFRS for SMEs – International Financial Reporting Standard for Small and Medium-sized Entities
IFRS – International Financial Reporting Standards

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Aligning the chart of accounts with the Group-level chart of accounts – linking to a unified classification of accounts and cost centers
Currency and exchange rate standardization – posting in foreign currency and applying specific designated exchange rates
Consolidation – eliminating or separately presenting transactions at the Group level
Unified depreciation policy – adopting common rates and methodologies for fixed asset depreciation
Group inventory valuation method – defining a uniform model (FIFO, weighted average)
Revenue recognition according to Group guidelines – aligning with IFRS 15 for the Group or the relevant local standard
Foreign exchange difference calculation – applying a unified exchange rate
Provisioning and credit risk assessment – consistent methodology and assessment level according to Group principles
Segment reporting – defining operating segments and consistently allocating revenue and expenses
Internal control and approvals – centralized process for posting review and validation
ERP system integration – technical configuration for automatic retrieval and application of Group policies