Balance Sheet Report

The Balance Sheet report presents the consolidated financial position of the group for the selected reporting period.

The report uses the Group Reporting Template (GRT) and the consolidation results generated for the companies included in the group.

From your GATHER.nexus dashboard, go to Group Financial Reporting > Reports.

Select the relevant Balance Sheet report or create a new report.

When creating the report, enter the required details:

Select the Group and Group Reporting Template that you want to use.

The GRT provides the reporting structure for the consolidated Balance Sheet.

Select the relevant reporting year and period.

The Balance Sheet presents the group's financial position at the selected period end.

For companies reporting in a currency different from the group currency, Balance Sheet figures are translated using the month-end exchange rate.

The consolidation process generates the applicable adjustments based on the ownership and acquisition information configured for the companies in the group.

For the Balance Sheet, the applicable automatic consolidation journals include:

The journals are shown in the Working Paper for the periods in which they apply.

For a subsidiary that was Acquired an existing company, the Pre-Acquisition Journal records the applicable acquisition-related consolidation adjustments, including the elimination of the parent's Investment in Subsidiary and the recognition of the relevant acquisition balances.

For a company that was Formed as a new entity, the Pre-Acquisition Journal is not created.

The NCI Journal (Current Year Earnings) and NCI Journal (Retained Earnings) record the applicable non-controlling interest adjustments.

The applicable NCI percentage is determined from the group's ownership structure.

Where an additional ownership interest is acquired after the original acquisition, the Step Acquisition Journal records the applicable consolidation adjustment.

Where an ownership interest is subsequently disposed of, the Disposal Journal records the applicable consolidation adjustment.

Where applicable, Auto FX 1 records foreign-exchange differences relating to earnings and NCI.

Open the relevant Working Paper to review how the consolidated Balance Sheet has been produced.

The Balance Sheet Working Paper shows:

The journal columns appear between the Aggregated and Consolidated columns.

The Consolidated figure reflects the Aggregated figures after the applicable consolidation journal adjustments have been applied.

Calculated consolidation amounts can be clicked to open a calculation card.

Depending on the amount selected, the calculation card can show:

Calculation details are available for consolidation figures including:

For Goodwill, the calculation details show the amounts used in the goodwill calculation, including purchase consideration, NCI at acquisition and net assets.

For Equity attributable to the minority, the calculation details show the subsidiary's net assets at acquisition and the applicable NCI percentage.

Where a subsidiary's currency differs from the group currency, GATHER.nexus creates FX in reserves accounts for the applicable consolidation elements.

The relevant Pre-Acquisition figures are re-translated at each month-end using the new month-end exchange rate. The resulting difference is recorded within the applicable Pre-Acquisition Journal.

Click an FX in reserves amount to open its calculation details.

The calculation shows:

The calculation is:

There is no previous-month comparison in the acquisition month, so no FX difference is calculated for that month.

GATHER.nexus automatically adds the consolidation accounts required for the consolidation process to the Group Reporting Template.

The Balance Sheet consolidation accounts include:

Where applicable, Goodwill includes a child account for each subsidiary.

NCI Acquisition Reserve is created where a subsidiary has a step acquisition or disposal.

Capital Gain on Bargain Purchase is created where the goodwill calculation for a subsidiary results in negative goodwill.

FX in reserves is created where a subsidiary's reporting currency differs from the group currency.

Where applicable, subsidiary-specific child accounts are created under the relevant consolidation accounts.

These platform-generated accounts are part of the GRT and cannot be hidden or deleted.

Where GATHER.nexus creates subsidiary-specific child accounts under a platform-generated consolidation account, the accounts form part of the group's reporting structure.

For example, Goodwill and Equity attributable to the minority can include subsidiary-specific child accounts where applicable.

These accounts allow the applicable consolidation amounts to be presented separately for each subsidiary.

Use the Consolidated figures in the Working Paper and the Balance Sheet report to review the group's final financial position.

You can click applicable calculated figures to review the calculation details supporting the consolidated amount.

The consolidation journals are generated automatically from the ownership and acquisition information configured for the group.

Where required, generated journal amounts can be edited.

If ownership or acquisition information is changed and the change affects consolidation, the related automatic consolidation journals are recalculated.

Need help? Visit gather.nexus, click the chat icon in the bottom-right corner, or contact support for assistance.