Companies with employee benefit plans are required to include its pension liabilities in their annual financial statements. For multinationals, this can be a very challenging task, as it means data collection, liability calculation and decision-making for across different types of plan and different jurisdictions.
Do you have a full overview of your pension liabilities? Are you sure they are calculated correctly? Would you like to be able to assess the impact of any change in key assumptions on any of your pension liabilities? Our experts can help with setting up your accounting consolidate tool, managing your questions in an easy to use way. Need to find out more or do you want a demo? Please contact us.
Watch the video and find out what Accounting Consolidate can do for you in just 2 minutes.
Year-end pensions accounting disclosures usually require a long run-up and rely on estimates and incomplete information right up until the last minute when deadlines are tight. Our Accounting Consolidate tool makes this process seamless. You can produce accurate accounting disclosures whether you have one employee benefit plan or hundreds.
Accounting Consolidate makes companies’ lives easier. It processes all locally calculated information quickly and easily, subjecting every calculation to a series of quality checks before uploading them onto one central platform.
In a nutshell:
Consolidates your worldwide pension reporting for financial reporting, quickly and efficiently.
Operates with an integrated end-to-end process, from information collation to disclosures.
Produces web-based interactive results with instantaneously downloadable user-customised disclosures.
Enables assessment of the impact of economic changes to avoid surprises before the year-end.
Enables you to access information anytime and anywhere, ensuring consistency and flexibility.
The tool can be used for both accounting and consolidation purposes. The various stages of the process are set out below. By using Accounting Consolidate you take control of each stage of the process, permanently monitor the progress made and make adjustments when necessary to make sure the accounting requirements are met in a correct and timely manner.
Accounting Consolidate allows you to monitor and follow-up progress real-time for accounting and consolidation purposes. From collection, uploading and validation of information to viewing and interrogating results. Automated audit checks on key income statement and balance sheet items and flagging are built-in into the platform. The platform produces charts showing progression of balance sheet and P&L over time as well.
Accounting Consolidate has the ability to perform projections to enable calculation of results for immaterial plans without recourse to the local actuary, understand the current financial status of your plans, reflecting the latest market movements and view the development of your income statement and balance sheet over future years.
Assisting you in setting priorities for the year ahead, including: changes to benefit design, de-risking and reviewing financial strategy.
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