For instance, the Group may present its financial statements in US dollars, but have a number of subsidiaries having a range of functional currencies, some in GB£, others in Euros, others in for instance reporting in Brazilian Reals. 

As a consequence of the spread of reporting currencies, it will (probably) make sense for each subsidiary to prepare its own forecast in its own functional currency.

Individually, those forecasts can be translated into the group reporting currency at the currency ruling at the time of preparation.

Upon the preparation of the group consolidated forecast, Forecast 5 allows these functional currencies to be updated prior to consolidation, ensuring that at the date of consolidation, all rates and (hence all translated values) in the group consolidated forecast are correctly presented in the group forecast.

The process is straightforward; Forecast 5 makes the preparation of group consolidated forecasts simple!

In the meantime, if you’d like to see for yourself the power of Forecast 5, please go ahead and download a free 21day trial, here.

Or, if you are anxious to get going with your own copy of Forecast 5 and simply want a demonstration to set you on your way, please contact us via this link.