Consolidation and Intercompany Reconciliation Template

Group close file: perimeter and control, close calendar, package, FX translation and CTA, intercompany matching, dispute log, eliminations, NCI, review controls

財務・投資・会計フルIFRS 10; IAS 21 (incl. 2023 and 2025 amendments); ASC 810, 830 (numbers only)consolidation and intercompany reconciliation更新 2026/10/29

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使い方: Use it at each group close to document how the consolidated numbers were built from entity packages. Fill the perimeter, calendar and rate table first, then matching, disputes and eliminations. The main pitfall is eliminating intragroup FX differences that IAS 21 keeps in profit or loss, or netting differences across pairs.

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Consolidation and Intercompany Reconciliation: [Group name] [Period]

A period-end consolidation file for a group of companies: the group perimeter and control assessment, the reporting package, foreign currency translation, intercompany matching, the dispute log and the elimination entries, with review evidence. The structure follows IFRS 10 "Consolidated Financial Statements" and IAS 21 "The Effects of Changes in Foreign Exchange Rates" (including the amendments "Lack of Exchangeability", August 2023, effective for annual periods beginning on or after 2025-01-01, and "Translation to a Hyperinflationary Presentation Currency", issued 2025-11-13, effective for annual periods beginning on or after 2027-01-01), with pointers to FASB ASC Topics 810 and 830 for US GAAP groups. Standards are cited by name and paragraph or topic number only. Replace every [bracketed] value and every row marked Example. This is a documentation format, not accounting, audit or tax advice: check the current official texts and a qualified professional.

Document control

Field	Value
Document ID	[CONS-YYYY-PP] Example: CONS-2026-12
Group	[Parent legal name] Example: Orsolan Instruments SE and subsidiaries
Period	[Month, quarter or year ending YYYY-MM-DD] Example: Year ended 2026-12-31
Framework	[IFRS as adopted by the EU / IFRS / US GAAP / local GAAP] Example: IFRS as adopted by the EU
Presentation currency	[Currency] Example: EUR
Consolidation system	[Tool or spreadsheet, version]
Materiality for top-side review	[Amount] Example: EUR 150 thousand
Intercompany tolerance	[Amount and percentage] Example: EUR 5 thousand or 0.5% of the smaller side, whichever is higher
Version	[0.1]
Status	[Draft / In review / Approved]
Owner	[@group-financial-controller]
Approvers/reviewers	[@head-of-group-reporting], [@cfo]
Last updated	YYYY-MM-DD
Classification	[Confidential]

Approvals

Role	Name	Decision	Date
Group consolidation accountant	[@name]	[Prepared]	YYYY-MM-DD
Group financial controller	[@name]	[Reviewed eliminations and translation]	YYYY-MM-DD
Chief financial officer	[@name]	[Approved consolidated numbers]	YYYY-MM-DD

Revision history

Version	Date	Author	Change
0.1	YYYY-MM-DD	[@name]	Perimeter, calendar and rates set
0.2	YYYY-MM-DD	[@name]	Matching and eliminations posted
1.0	YYYY-MM-DD	[@name]	Approved after review

Scope and close calendar
Group perimeter and control assessment
Reporting package
Foreign currency translation
Intercompany policy and matching process
Intercompany matching results
Intercompany dispute log
Elimination entries
Non-controlling interests and translation reserve
Review, controls and sign-off
US GAAP pointers
Glossary and references

1. Scope and close calendar

Day	Activity	Owner	Output
WD-3 (Example)	Rates published (section 4); perimeter changes confirmed	Group reporting	Rate table, perimeter list
WD+1 (Example)	Intercompany invoicing cut-off; no new intercompany invoices for the period	All entities	Cut-off confirmation
WD+3 (Example)	Intercompany balances and flows loaded to the matching tool	Entity accountants	Matching report
WD+4 (Example)	Differences above tolerance explained or raised as disputes	Entity controllers	Dispute log entries
WD+5 (Example)	Reporting packages submitted and locked	Entity controllers	Package sign-off
WD+6 (Example)	Translation, eliminations, NCI and top-side entries	Group consolidation	Draft consolidated statements
WD+8 (Example)	Review and sign-off	Group financial controller, CFO	This document approved

The closing date of every subsidiary should be the group's reporting date. IFRS 10 paragraphs B92 and B93 cover the exception where a subsidiary uses a different date: adjustments for significant transactions and a gap of no more than three months. Example: All Orsolan entities close on 2026-12-31.

2. Group perimeter and control assessment

IFRS 10 paragraph 7 sets the three elements of control, with application guidance in Appendix B (paragraphs B2 to B85). Associates and joint ventures follow IAS 28 and IFRS 11; structured entities need a separate assessment. Under US GAAP, ASC 810 has two models (variable interest entities and voting interest entities): assess both where relevant.

Entity ID	Legal entity	Country	Functional currency	Ownership	Control or influence basis	Method	Change this period
E01 (Example)	Orsolan Instruments SE	Germany	EUR	Parent		Parent	None
E02 (Example)	Orsolan Instruments Inc.	US	USD	100%	Voting rights, board appointed by E01	Full consolidation	None
E03 (Example)	Orsolan Instruments UK Ltd	UK	GBP	100%	Voting rights	Full consolidation	None
E04 (Example)	Orsolan Polska sp. z o.o.	Poland	PLN	80%	Voting rights; minority has protective rights only	Full consolidation with 20% NCI	None
E05 (Example)	Orsolan Mexico S.A. de C.V.	Mexico	MXN	30%	Significant influence, two of seven board seats	Equity method (IAS 28)	None

Assessment ID	Question	Conclusion	Evidence	Date
CTL-01 (Example)	Do the minority shareholder's rights in E04 give it substantive participation?	No: rights cover changes to articles and new share issues only, which are protective	Shareholders' agreement clause review	YYYY-MM-DD
CTL-02 (Example)	Does E01 control E05 through the distribution agreement?	No: E05 sets prices and budgets independently	Board minutes, agreement	YYYY-MM-DD

Changes in ownership: an increase or decrease without loss of control is an equity transaction (IFRS 10 paragraph 23); loss of control follows paragraph 25 and Appendix B (paragraphs B97 to B99). Record any such change here with the calculation.

3. Reporting package

IFRS 10 paragraph B87 requires uniform accounting policies, adjusting an entity's figures where its policies differ.

Package section	Content	Check before lock
Trial balance on group chart of accounts	All accounts mapped, local GAAP to IFRS adjustments shown separately	Mapping complete, no unmapped balances
Intercompany schedule	Balances and flows by counterparty, transaction currency and amount	Agrees to trial balance intercompany accounts
Fixed asset, lease and provision roll-forwards	Opening, movements, closing	Ties to the balance sheet
Inventory from group companies	Quantity, transfer price, seller's margin	Supports unrealised profit elimination
Dividends declared and paid	Date, amount, counterparties	Agrees to board minutes
Tax	Current and deferred, rate	Agrees to tax computation
Sign-off	Entity controller and managing director	Signed before WD+5

4. Foreign currency translation

IAS 21 paragraphs 9 to 14 set how functional currency is determined, paragraphs 39 to 41 the translation of a foreign operation into the presentation currency (assets and liabilities at the closing rate, income and expenses at transaction-date rates or an average that approximates them, differences in other comprehensive income), and paragraph 47 the treatment of goodwill and fair value adjustments. The amendments "Lack of Exchangeability" (paragraphs 8A and 19A onward, check the text) apply where a currency cannot be exchanged, and the 2025 amendments cover translation into a hyperinflationary presentation currency from 2027.

Currency	Opening rate (2025-12-31)	Average rate FY2026	Closing rate (2026-12-31)	Source
USD per EUR (Example)	1.12	1.08	1.10	[Central bank reference rate]
PLN per EUR (Example)	4.20	4.25	4.30	[Central bank reference rate]
GBP per EUR (Example)	0.86	0.85	0.87	[Central bank reference rate]

Example: The rates above are invented for illustration. Rates for dividends and other large transactions use the spot rate on the transaction date; for E04's dividend that rate was 4.30.

Translation of E02 (USD thousand to EUR thousand):

Item	USD	Rate	EUR
Opening net assets (Example)	40,000	1.12	35,714
Profit for the year (Example)	6,480	1.08	6,000
Exchange difference to translation reserve (Example)			541
Closing net assets (Example)	46,480	1.10	42,255

Translation of E04 (PLN thousand to EUR thousand):

Item	PLN	Rate	EUR
Opening net assets (Example)	56,500	4.20	13,452
Profit for the year (Example)	8,500	4.25	2,000
Dividend declared (Example)	-5,000	4.30	-1,163
Exchange difference to translation reserve (Example)			-336
Closing net assets (Example)	60,000	4.30	13,953

The USD strengthened against the EUR during the year (fewer USD per EUR), so E02's translated net assets rose and the difference is a gain; the PLN weakened, so E04's difference is a loss.

5. Intercompany policy and matching process

Policy element	Rule
Invoicing currency	[Rule] Example: The seller's functional currency, except royalties which are invoiced in GBP by E03
Cut-off	[Rule] Example: Goods are recorded by the buyer on the seller's shipment date; goods in transit are accrued by the buyer
Settlement	[Rule] Example: Monthly netting through the group treasury account, 30 days
Tolerance	[Amount] Example: EUR 5 thousand or 0.5% of the smaller side
Dispute rule	[Rule] Example: The seller's invoice stands until a credit note is issued; disputes open more than 60 days go to the group financial controller
Transfer pricing	[Reference] Example: Prices follow the master file and local files

6. Intercompany matching results

Match ID	Pair	Type	Seller or lender side EUR	Buyer or borrower side EUR	Difference	Within tolerance?	Cause	Action
IC-01 (Example)	E01 / E02	Trade receivable and payable	2,350	2,300	50	No	Invoice 7781 disputed by E02 (price)	DSP-01
IC-02 (Example)	E01 / E02	Sales and purchases	9,200	9,212	-12	Yes (0.13%)	E02 translated monthly purchases at monthly rates	To IC rounding
IC-03 (Example)	E01 / E04	Management fee	600	570	30	No	E04 had not accrued the Q4 fee	E04 accrual in package
IC-04 (Example)	E01 / E04	Loan receivable and payable	5,000	5,000 (PLN 21,500 at 4.30)	0	Yes		Eliminate
IC-05 (Example)	E01 / E04	Interest income and expense	200	200 (PLN 850 at 4.25)	0	Yes		Eliminate
IC-06 (Example)	E03 / E02	Royalty income and expense (one annual invoice dated 2026-12-31, so the closing rate is also the transaction rate), and the unpaid balance	300 (GBP 261 at 0.87)	300 (USD 330 at 1.10)	0	Yes		Eliminate
IC-07 (Example)	E04 / E01	Dividend	930 (E01 income, PLN 4,000 at 4.30)	930 (80% of PLN 5,000)	0	Yes		Eliminate, NCI share in section 9

Unmatched or one-sided items: [list]. Example: None after IC-03 accrual.

7. Intercompany dispute log

Dispute ID	Opened	Pair	Amount EUR	Description	Seller view	Buyer view	Owner	Decision	Group treatment	Status
DSP-01 (Example)	YYYY-MM-DD	E01 / E02	50	Invoice 7781: unit price for sensor housings	Price list 2026 applies	Contract price agreed in Q3 applies	Group financial controller	Buyer view upheld; E01 issues credit note in January	Top-side: reduce revenue and receivable by 50 in E01 column (ELIM-05)	Closed
DSP-02 (Example)	YYYY-MM-DD	E03 / E04	[Amount]	[Description]	[View]	[View]	[@owner]	[Pending]	[Treatment]	Open

Ageing: [number of disputes by age band, 0 to 30, 31 to 60, over 60 days]. Example: One dispute closed within 30 days.

8. Elimination entries

IFRS 10 paragraph B86 sets the consolidation procedures: combine like items, offset the parent's investment against its share of equity, and eliminate intragroup balances, transactions, income, expenses and unrealised profits in full. Deferred tax on temporary differences from eliminating unrealised profits follows IAS 12.

Entry	Description	Debit	Credit	Amount EUR	Link
ELIM-01 (Example)	Intercompany sales and purchases	Revenue (E01)	Cost of sales (E02)	9,200	IC-02
ELIM-02 (Example)	Unrealised profit in E02 inventory: goods from E01 at transfer price 1,500, seller's margin 25%	Cost of sales	Inventory	375	Inventory schedule
ELIM-03 (Example)	Deferred tax on ELIM-02 at the buyer's rate of 25% (IAS 12)	Deferred tax asset	Income tax expense	94	ELIM-02
ELIM-04 (Example)	Intercompany trade balances, agreed part	Trade payables (E02)	Trade receivables (E01)	2,300	IC-01
ELIM-05 (Example)	Disputed invoice, buyer view upheld	Revenue (E01)	Trade receivables (E01)	50	DSP-01
ELIM-06 (Example)	Management fee after E04 accrual	Other income (E01)	Administrative expenses (E04)	600	IC-03
ELIM-07 (Example)	Intercompany loan	Borrowings (E04)	Loan receivable (E01)	5,000	IC-04
ELIM-08 (Example)	Intercompany interest	Finance income (E01)	Finance costs (E04)	200	IC-05
ELIM-09 (Example)	Royalty income and expense, and balance	Royalty income (E03); payables (E02)	Royalty expense (E02); receivables (E03)	300 each	IC-06
ELIM-10 (Example)	Dividend from E04: E01 income against E04 distribution, NCI share against NCI	Dividend income (E01) 930; NCI 233	Retained earnings (E04 distribution) 1,163	1,163	IC-07, section 9
ELIM-11 (Example)	Investment in subsidiaries against equity at acquisition, goodwill	Share capital and pre-acquisition reserves; goodwill	Investment in subsidiaries	[Per acquisition schedule]	Acquisition files

Not eliminated: E04 records a foreign exchange loss of PLN 500 thousand (EUR 118 thousand at the average rate) on the EUR loan from E01, because the loan moved from PLN 21,000 thousand (at 4.20) to PLN 21,500 thousand (at 4.30). IAS 21 paragraph 45 keeps such differences in consolidated profit or loss, because the group is exposed to the currency. The exception is a loan that forms part of the net investment in a foreign operation (IAS 21 paragraphs 15 and 32), whose differences go to other comprehensive income in the consolidated statements. Example: The loan is repayable in 2029 and settlement is planned, so it is not part of the net investment.

9. Non-controlling interests and translation reserve

NCI are presented within equity, separately from the parent owners' equity (IFRS 10 paragraph 22), and profit, other comprehensive income and dividends are attributed to them (paragraph B94). The measurement of NCI at acquisition (fair value or proportionate share of net assets) follows IFRS 3.

NCI in E04 (20%)	EUR thousand
Opening (20% of 13,452.4) (Example)	2,690.5
Share of profit (20% of 2,000.0) (Example)	400.0
Share of dividend (PLN 1,000 at 4.30) (Example)	-232.6
Share of translation difference (20% of -336.0) (Example)	-67.2
Closing (20% of 13,953.5) (Example)	2,790.7

Example: NCI are measured at the proportionate share of net assets, so no goodwill is attributed to NCI.

Translation reserve movement	Total	Owners of the parent	NCI
E02 (USD) (Example)	541	541	0
E04 (PLN) (Example)	-336	-269	-67
E03 (GBP) (Example)	[Amount]	[Amount]	0
E05 associate, share of OCI (Example)	[Amount]	[Amount]	0

On disposal of a foreign operation, the cumulative translation differences attributed to the parent are reclassified to profit or loss (IAS 21 paragraph 48 onward); keep the reserve by operation so that this amount is available.

10. Review, controls and sign-off

Control ID	Check	Frequency	Owner	Evidence	Result
CCTL-01 (Example)	Perimeter list agrees to the legal entity register and ownership changes	Each close	Group reporting	Signed perimeter list	[Pass]
CCTL-02 (Example)	All intercompany pairs matched or in the dispute log; total elimination difference below tolerance	Each close	Consolidation accountant	Matching report	[Pass]
CCTL-03 (Example)	Rates in the system agree to the published rate table	Each close	Group reporting	Rate check	[Pass]
CCTL-04 (Example)	Every top-side entry above materiality has support and second approval	Each close	Group financial controller	Journal support	[Pass]
CCTL-05 (Example)	Consolidated equity roll-forward balances, including NCI and translation reserve	Each close	Consolidation accountant	Equity schedule	[Pass]
CCTL-06 (Example)	Related party disclosures agree to the eliminated intercompany flows	Year end	Group reporting	Disclosure checklist	[Pass]

Open points at sign-off: [list with owner and date]. Example: DSP-02 data request outstanding; below materiality.

11. US GAAP pointers

Topic	IFRS reference	US GAAP reference (topic number only)	Point to check
Control and perimeter	IFRS 10 paragraph 7, Appendix B	ASC 810-10 (variable interest and voting interest models)	Whether any entity is a variable interest entity with a different primary beneficiary conclusion
Elimination of intra-entity items	IFRS 10 paragraph B86	ASC 810-10-45	Same principle; check the treatment of NCI share of unrealised profit
Tax on intra-entity inventory transfers	IAS 12	ASC 740-10 and ASC 810-10	Treatment of tax effects on intra-entity inventory transfers differs; check the current Codification
Foreign currency translation	IAS 21 paragraphs 39 to 48	ASC 830-30	Functional currency indicators and highly inflationary economies
Foreign currency transactions and intra-entity loans	IAS 21 paragraphs 15, 32 and 45	ASC 830-20	Long-term investment nature of intra-entity balances
Equity method	IAS 28	ASC 323	Basis differences and losses beyond the investment

Official text: FASB Accounting Standards Codification, free basic view or licensed professional access: https://asc.fasb.org

12. Glossary and references

Term	Meaning in this template
Perimeter	The set of entities included in the consolidated statements and their method
Functional currency	The currency of the primary economic environment of an entity
Presentation currency	The currency in which the group presents its statements
Translation reserve	Equity component holding exchange differences on translating foreign operations
NCI	Non-controlling interests: equity in a subsidiary not attributable to the parent
Top-side entry	A consolidation-level adjustment not booked in any entity ledger
Unrealised profit	Profit on intragroup sales of assets still held within the group
Tolerance	The difference below which intercompany pairs are treated as matched

References:

IFRS 10 "Consolidated Financial Statements" (IASB, issued May 2011, effective 2013-01-01, as amended); paragraph numbers only.
IAS 21 "The Effects of Changes in Foreign Exchange Rates", as amended by "Lack of Exchangeability" (August 2023, effective 2025-01-01) and "Translation to a Hyperinflationary Presentation Currency" (issued 2025-11-13, effective 2027-01-01); paragraph numbers only.
IAS 12 "Income Taxes"; IAS 28 "Investments in Associates and Joint Ventures"; IFRS 3 "Business Combinations"; IFRS 11 "Joint Arrangements"; IAS 24 "Related Party Disclosures".
FASB ASC Topics 810 (Consolidation), 830 (Foreign Currency Matters), 740 (Income Taxes) and 323 (Investments, Equity Method and Joint Ventures); topic numbers only.
Official text of IFRS Accounting Standards: IFRS Foundation, free registration or licensed access: https://www.ifrs.org/issued-standards/list-of-standards/

Standard and licence note

Structure aligned with IFRS 10 and IAS 21 issued by the IASB, and with FASB ASC Topics 810 and 830, cited by paragraph or topic number only. The IFRS Foundation and the Financial Accounting Foundation hold copyright in these texts, so this template contains no wording or examples from them; the close calendar, matching rules, dispute log, entries and the Orsolan Instruments example are original and fictional, and the exchange rates are invented. Paragraph numbers are pointers to check against the current official text. Template licence: MIT.