Today I will discuss the major changes that Oracle has made in the way consolidation is handled in Oracle 11.

GLOBAL CONSOLIDATION SYSTEM

In older versions of Oracle GL prior to release 11, the consolidation process consisted of a series of predefined, one-to-one company relationships. As a result the consolidation process would be very tedious in case the corporate structure is complex. This required multiple level of consolidations. The user had to keep track of the structure, the proper order of consolidation, and which consolidations had been completed. This led to confusions and delays in the entire consolidation process.

However, in the new release 11 this process is made easier through the Global Consolidation System (GCS). Global consolidation system helps in centrally controlling and monitoring status of all the consolidations. The Consolidation Workbench provides the means to perform the various consolidations, it keeps the user informed on the status of each consolidation. It also indicates whether transactions have been made to the subsidiary after the consolidation has taken place with the parent.

Further, within the Consolidation Workbench, there is a navigation tool called the State Controller. This is a set of optional buttons that help the user in navigating to the activities associated with the functional steps in a consolidation.

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