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Financial Consolidation and Close Cloud Service (FCCS) is the consolidation module of Oracle EPM Cloud, designed to quickly and accurately consolidate groups with multiple entities. It automates intercompany eliminations, currency translation, and consolidation rules in accordance with IFRS or US GAAP. This helps you shorten the close cycle and increase the reliability of your group reporting.
FCCS is a cloud application within Oracle EPM for financial consolidation, intercompany elimination, and group reporting for organizations with multiple entities.
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Preconfigured consolidation and elimination logic
Automatic currency conversion and intercompany matching
Built-in reporting and disclosure management for the close cycle
Technology is the foundation; the right experts deliver the real benefits.
An FCCS consultant translates the unique characteristics of your group—multiple currencies, minority interests, varying ownership percentages—into a structure that makes sense, something a standard template cannot do.
When the structure changes, an experienced specialist knows exactly which eliminations and mappings need to be adjusted so that no errors creep into the consolidated financial statements.
Thanks to in-depth knowledge of IFRS and US GAAP requirements, an expert can translate the regulations into a proper structure, rather than having you discover later that something is wrong.
