MIK-KONS

Flexible and comprehensive consolidation process

A prerequisite for comprehensive and efficient management control is a consolidated accounting system that includes modern control elements. To achieve this, company data from all divisions such as Production, Sales, Accounting and Human Resources must be merged, linked and matched.

As an integral consolidation system, MIK-KONS has been designed to merge all data relevant to consolidation while satisfying all the requirements made on a flexible and comprehensive consolidation process.

The MIK solution enables consolidation based on commercial law and ensures that auditable accounting data is prepared in accordance with HGB (Commercial Code), IFRS or US-GAAP principles. It provides the necessary data from the consolidated financial statement, annual accounts and balance sheets.

The OLAP database, developed in-house by MIK, provides the multidimensional analysis and reporting model, which guarantees, thanks to automatic transfers, that all information required as part of consolidation, including that for analysis, is available. And thanks to the powerful range of front-end functions, detailed investigations can also be performed online.

Application
Consolidation

Features

• Consolidated accounting system incorporating modern control elements
• Parallel preparation of financial statements according to HGB (Commercial Code), IFRS or US-GAAP principles, and segment reporting
• Back-checking and top-down breakdown of balance-sheet items into accounts, countries, parts of the group, or subsidiary companies
• Straightforward interface to the MIK-OLAP and MIK-BIS worlds