Grohe AG is a leading manufacturer of faucets and sanitary products.
The initial situation
After the takeover by an investor, the previously manual processes in Group Accounting had to be automated and integrated more closely. Core challenges consisted in the conversion from HGB consolidation to IFRS and later to J-GAAP. In addition, the consolidation of different group levels was carried out with push-down of the ppa entries for each level to the legal entity. This involved many different subgroups with decentralized data upload for different fiscal year logics.
Definition and set-up of group-wide harmonized structures according to required IFRS financial statements.
Mapping of local CoA to IFRS accounts and automation of upload routine including different fiscal year logics (local data, manual journals, copy forward rules etc.)
Implementation of the investment register for HGB and IFRS within the consolidation system and integration of automated ppa push-down entries into the legal entity (each group level had "new" ppa entries)
Design and implementation of a complete Notes package within the consolidation system and setup of validation reports, checking rules and standardized reporting process
Implementation of different reporting views for IFRS and J-GAAP including new mapping rules and separation of reporting lines
Establishment of a reporting platform for legal closing, management reporting and ETL processes to the new shareholder in Japan
The benefits for the customer
Complete automation of consolidation for different hierarchy levels and subgroups. In addition, this created transparency for auditors and shareholders as to at which level and according to which GAAP the corresponding entries arise and which effects thereby arise from which segment.
Senior Partner
Master of Economics and Business Administration
For Stephan Grunwald, consulting is an entrepreneurial activity with many variations; in various industries, for companies of different sizes, in different management structures. Yet always with the same sense of entrepreneurship. The prerequisite for all this is a sound and broadly diversified foundation in business administration. For him, however, the consistent realization of a concept is the ultimate entrepreneurial aspect of consulting differentiating 4C GROUP from its competition.
His focus lies in the CFO Office covering all aspects of decision making and controlling, reporting & planning, cost management, new role of finance (Industry 4.0), HR digitization and innovation management.
He has extensive experience in various industries and consulting of owner-managed and family led companies.
“People, who really want to move things forward” – are the ones Markus Noçon wants to work with. We are happily quoting Markus, since it expresses a central consulting challenge. Namely, mastering the balancing act between corporate decision-making concepts on the one hand and a pragmatic implementation of methods and instruments on the other. This works best with partners on the client, side who want and actively drive change.
His main focus lies within the CFO Office, especially in group accounting and consolidation, controlling & reporting, planning as well as performance management systems and consolidation systems.
Senior Partner
Master of Economics and Business Administration
For Stephan Grunwald, consulting is an entrepreneurial activity with many variations; in various industries, for companies of different sizes, in different management structures. Yet always with the same sense of entrepreneurship. The prerequisite for all this is a sound and broadly diversified foundation in business administration. For him, however, the consistent realization of a concept is the ultimate entrepreneurial aspect of consulting differentiating 4C GROUP from its competition.
His focus lies in the CFO Office covering all aspects of decision making and controlling, reporting & planning, cost management, new role of finance (Industry 4.0), HR digitization and innovation management.
He has extensive experience in various industries and consulting of owner-managed and family led companies.
“People, who really want to move things forward” – are the ones Markus Noçon wants to work with. We are happily quoting Markus, since it expresses a central consulting challenge. Namely, mastering the balancing act between corporate decision-making concepts on the one hand and a pragmatic implementation of methods and instruments on the other. This works best with partners on the client, side who want and actively drive change.
His main focus lies within the CFO Office, especially in group accounting and consolidation, controlling & reporting, planning as well as performance management systems and consolidation systems.
