Support for Noncontrolling Interest Eliminations
With this release, Workday factors in noncontrolling interest (NCI) when performing consolidated reporting for partial ownership companies. Elimination calculations now automatically include NCI eliminations.
Watch the video:
3m 7sBusiness Benefits
NCI Eliminations:
- Enable accuracy in consolidated reporting for partial ownership companies.
- Avoid overstating company information based on partial ownership of specific companies.
Changes
After you opt in to NCI by ownership and begin running noncontrolling interest to generate persisted NCI entries, OfficeConnect for Financial Management includes these NCI amounts in consolidated reports:
- Automatically as part of general report refreshes.
- When using Show Details with respective company hierarchy or elimination nodes.
What Do I Need to Do?
If you have set up the NCI by Ownership feature, then OfficeConnect for Financial Management can report on NCI.
When setting consolidation details for a company hierarchy in the
Edit Consolidation Details
task, follow these guidelines to select a valid consolidating parent company and avoid errors:
- The consolidating parent company must be a descendant of the company hierarchy.
- If the consolidating parent company is part of a sub-hierarchy, it should also serve as the consolidating parent for that sub-hierarchy.
What Happens if I Do Nothing?
You'll see no changes in Workday if you haven't set up this feature. NCI Eliminations won't be available in your tenant.