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Consolidation of Financial Statements and Reporting – New Challenges

This article discusses various challenges faced by the corporate accounting at the company that controls other entities in preparing and presenting the Consolidated Financial Statements (CFS).

How banks can piggyback on the XBRL wave

Adopting and implementing XBRL within a bank's ecosystem will throw up many challenges. This should not deter them from moving towards the larger goal. The critical success factor in implementation is the development of a comprehensive taxonomy and robust system based on XBRL standards.