Consolidation: the soft option

Article Abstract:

Financial consolidation can be made much easier and more efficient with the use of automatic data capture methods. The advantage of these methods is that processing time is greatly reduced. For small and medium-scale firms, significant efficiency gains in collecting and consolidating financial data can be achieved by applying any one of the sophisticated ledger systems that have become available in the market. These include products such as Platinum, Prestige and Sage Sovereign. For larger firms, particularly those that maintain several ledgers, the use of dedicated consolidation packages, such as Micro Control and FCRS, is more advisable. Companies that wish to use financial data for planning purposes also have the option of using executive information systems, such as Pilot and Commander, since they permit consolidated financial data to be used as a strategic tool.

Software, Information management, Accounting, Accounting software, Consolidated financial statements

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Virtually valuable?

Article Abstract:

Asset management for businesses in 2001 is discussed, with focus on the importance of keeping track of hardware and software, and also the valuation of virtual assets such as customer relations and expert systems.

Accounting and auditing, Information technology, Valuation, Assets (Accounting), Logistics, Knowledge acquisition (Expert systems)

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