Mapping of Parallel Accounting Standards and Automation of Group Consolidation
The Company
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.
The approach
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.