“Consolidation. A lot of people don’t know exactly what it is. They think that it’s just an aggregation of numbers. Like you just add numbers, but it’s more technical than that. Most of the time when we are talking about consolidation, it’s international big groups that have subsidiaries around the world. Consolidation is the process of converting those financial statements normally built locally, because they have to be compliant with the local requirements and be compliant with the GAAP of the group.”

Charaf Bourhalla has been Head of Consolidation at Nestle Skin Health, Vimian Group and Edify Investment Partner. He holds several key certifications, including the FMVA from CFI, ACCA with a focus on IFRS, and the PMP from PMI. His posts on LinkedIn reach millions of people explaining complex topics simply such as IFRS 10 – Consolidated Financial Statements, AS 16 – Property, Plant and Equipment and AS 1 – Presentation of Financial Statements.

In this episode:

From years of struggle, to Kimberly Clarke as a reporting analyst to entering a pharma company as business controller
13-year tenure as a consultant developing a deep understanding of IFRS, USGAAP, French GAAP, and IPSAS,
3 Jobs as Head of Consolidation including Nestle Skin Health with 70 subsidiaries around the world
Simplifying complexities of financial consolidation and non financial KPIs
Secrets to working with FP&A for consolidation and forecasting and building a mid-term plan
Continual training for teams in subsidiaries
Technology and complexity changing the consolidation game
How Charaf called in when a company found itself consolidating more than 70 legal entities using Excel
Not to pick consultants with partnerships with only one provider

Connect with Charaf on LinkedIn: https://www.linkedin.com/in/charaf-bourhalla-04760a1b/

The Consolidation King on Working Better with FP&A – Charaf Bourhalla