1. OBJECTIVE AND SCOPE

1.1   Objective of this Procedure

This procedure describes purpose of ACTUAL0 reporting category and how it is managed in BFC, as well as other related customizing in other BFC modules.


1.2 Scope 


This procedure applies to the BFC Administration team.


2. REFERENCE DOCUMENTS

3. DEFINITIONS

Syensqo GAR Team - Group Accounting & Reporting Team (Consolidation & Tax team)

FSL BFC-Admin Team - Team administrating BFC SCO (Syensqo Group Consolidation tool) in SU FA from FSL (Solvay GBS Finance Service Line)

Syensqo General Group Secretary - Team from Legal Corporate communicating changes on Syensqo's shareholding structure (new or change in ownership, mergers, divestments, liquidations...) and managing companies' codifications in both ERP and BFC

CAM - Company Account Manager

FSL SU FA GL - General Ledger team from Service Unit "Financial Accounting" in FSL (Solvay GBS Finance Service Line)

IG - Fully Consolidated method

IP - Proportional Consolidation method

ME - Equity Method

NC - Not Consolidated

CBCR - Country By Country Report (external OECD requirement)

4. SUMMARY 

4.1 Purpose and Content 

The deliverables from the ACTUAL0 data collection are :

  • Syensqo Group shareholding structure – updated and published in  GAR SYENSQO AODOC team site Syensqo Shareholding Structure
  • The financial valuation of the non consolidated companies at Group level (vs Group consolidated figures).
  • The local equity of legal companies for dividend valuation purpose
  • The « Country By Country Report (CBCR)" requested by the OECD

Process Owners (POW):


Depending on the consolidation method (IG - IP - MEQ - NC) of the reporting companies, the content of their ACTUAL0 reporting package may differ:


Consolidated Companies (IG/IP/MEQ conso methods)

  • L4005 schedule "Investment (number)" - reports the number of shares that the reporting company (as Mother) owns in each of its affiliate (Daughters), as well as the the number of shares that the affiliate has issued, then it is possible to know the percentage owned by each of the Mother (s). If there is any variance compared to opening balance, it is explained by flow
  • L4000 schedule "Local Gaap equity for dividends valuation" - reports the Dec Y-1 statutory equity information needed to evaluate the dividends distribution at Group level
  • L4020 schedule "Shareholder's equity" - reports the numbers of shares issued by the Daughter company, split per its Mother companies. If there is any variance compared to opening balance it is explained by flow
  • L4060 schedule "CBCR - Revenues and Headcount" - reports 1) the detail of Revenues (not limited to the sales of products) included in the IFRS Dec Y-1 Income Statement with a split per Interco partners and 2) Headcounts - 1st upload in June


Non Consolidated (NC) Companies

  • L4005 schedule "Investment (number)" - same content and reporting principles as for Consolidated companies - To be noted that in most of cases, the Non Consolidated companies do not own affiliates
  • L4020 schedule "Shareholder's equity" - reports the numbers of shares issued by the Daughter company, split per its Mother companies. If there is any variance compared to opening balance it is explained by flow
  • L4050 schedule "Financial information" – reports the summarized Dec Y-1 Financial Statements (consistent with published annual accounts approved by Board of Shareholders and with equity value after dividends distribution), headcounts and external auditors names
  • Note that L4060 schedule "CBCR - Revenues and Headcount" is not requested for NC companies (information needed for CBCR captured through their L4050 schedule)


4.1 Reporting Calendar Purpose

Depending on their consolidation status and depending on the quarterly reporting period, ACTUAL0 data to be updated and published are different:




Permanent instructions on ACTUAL0 Reporting are issued every year by FSL SU FA team and published in  Syensqo GAR Team site "Permanent Instructions" folder, and also inserted in Quarterly GAR closing instructions:

 


4.2 Responsibilities

  • Syensqo General Group secretary: collects and communicates changes in the Syensqo's shareholding structure (new or change in ownership, mergers, divestments, liquidations...) 
  • Syensqo GAR Team:
    • communicate changes in Syensqo Shareholding structure  through its Structure File in  GAR SYENSQO AODOC - "Syensqo structure files"
    • analyzes ACTUAL0 inputs (Local equity for dividends valuation)
    • uses ACTUAL0 consolidated data (Financial Information on NC companies  / Shareholding tree) to build appendices from the Annual report
  • BFC Administration team maintains and updates ACTUAL0 reporting category (packages generation, consolidation creation, scheduling and on demand run,  mass lock/unlocks, on demand unlocks)
  • CAM enters the information for the companies under his/her scope:
    • for NC companies: CAM or CAM from the Mother company
    • for CBCR, existing interfaces from ERP's
  • FSL SU FA GL is responsible to perform the quarterly checks on ACTUAL0 data (number of shares declared by Mothers & Daughters)
  • Control on CBCR data also performed inside FSL


4.3 Overview 

At the beginning of the year, ACTUAL0 category has to be created for the current year. By principle, there is only one category per year, using one single December period (ACTUAL0 - YYYY.12).

Package generation :

  • Starts with should correspond to the perimeter published in the Y-1 annual report with the following updates:
  • Companies sold / liquidated / merged in Y-1 => no pack to be created
    • CBCR (based on Y-1 / IG IP MEQ) not needed. If any need, data can be collected out of ACTUAL0
    • Financial data on Non Conso (based on Y-1) not needed by GAR
  • Companies entering in the scope in Y (new acquired), package should be generated as soon as the company is created in BFC following the official communication from Syensqo General Group Secretary. 

The packages stay opened along the year to allow the CAM to update the information when necessary and out of the closing periods. However, every quarter the packages have to be published and locked during two days, to allow the GBS Solvay FSL SU-FA GL Team to analyze and validate the data at consolidated level.


ACTUAL0 12.YYYY – Quarterly procedure for lockings & unlockings  

  

The table below summarized for each Reporting quarter the scope of mass lockings and unlockings managed by BFC Admin team:



ACTUAL0 REPORTING SETUP

The process by which data is reported is defined in the Reporting Organizer and RU Organizer. In these modules it can be defined:

  •  "Reporting Organizer"  is the module where BFC Admin will create the ACTUAL0 Reporting category for the current Y defining:
    • Start/End dates / Package schedules / Set of controls / Source for opening balance / Deadline for 1st submission (D-1 end of March Y) / Integration mode after publication
  • "RU Organizer" is the module where BFC Admin will insert the Reporting companies and generate their ACTUAL0 package
    • List of companies to be inserted can be copied from the Y-1 ACTUAL0 category, removing after manually the packages not to be created (sold liquidated merged companies) and adding the new companies expected to report from Y
    • Non Conso companies: BFC Admin will adapt their package schedules and set of controls (as they have a different reporting content compared to IG IP MEQ companies)
    • Note that package schedules and set of controls to be used are defined in this document "BFC Admin Reporting set up per category and period"


ACTUAL0 SCOPES OF CONSOLIDATION

3 different scopes used for ACTUAL0 consolidations:

  • SYENSQO - includes IG / IP / MEQ companies only - note that this is the scope also used in IFRS ACTUAL2 consolidation
  • SYENFULL - ALL companies (IG IP MEQ NC) considered as 100% consolidated (as if they were all IG)
  • SYENCONSO - IG companies consolidated at 100% / IP MEQ and NC consolidated as IP at their % of interests

These Scopes initiated at the beginning of the year, should be updated all during the year each time a change is communicated (by Syensqo Group General Secretary or by Syensqo GAR in its structure file).


ACTUAL0 CONSOLIDATIONS SETUP

Here below the list of ACTUAL0 consolidations required during the year and their purpose. 


Consolidations under Variant (V) 2 need to be updated on Quarterly basis:

  • when the Conversion Rates of the period are made available (WD-1)
  • when the SYENSQO scope of the period is made available (WD1)


ACTUAL0 SCHEDULING (AUTOMATED) CONOLIDATION RUNS

  • Every quarter on D1 and D2 scheduling of ACTUAL0 for SYENSQO V2 and SYENFULL V2 and their related Reconciliation consos - 4 times a day 8 am / 12 am / 4 pm / 10 pm.


5. REPORTING SETUP

5.1 REPORTING SETUP - Reporting Organizer

In the Reporting Organizer module, ACTUAL0 Category for the period (Reporting ID) is created with its reporting characteristics (Deadline, Folder, Set of Controls, Opening Balances...).


To create a new Reporting ID for the period, select the one of the previous year in the field Select Reporting IDs.

In this example, it is being created the category for 2024, so it was select as reference the category of 2023

Then in Reporting Organizer module Open it and Save As.







The General tab defines the general properties of the reporting ID.

Enter the following information:

  • Category - ACTUAL0
  • Data entry period - YYYY.12
  • Short & Long description - SYENSQO Shareholding - YYYY.12





The Definition tab indicates the reporting status. It can also be specified the associated category scenario and the start and end dates for the reporting.

Enter the following information:

  • Version of category scenario: refer to this document "BFC Admin Reporting set up per category and period" to get the category scenario version to be used
  • Start & End Date: As ACTUAL0 is used from the beginning of the year until the final Year End,  enter a large range, e.g. January 1st of current year to March 31st next year.








The Package tab defines the data entry settings applicable to packages:

  • Blocking - Flag the option Blocking.
  • Opening balance:
    • Category: ACTUAL0.
    • Data entry period: YYYY-1.12 - Inform the period which the opening balances are retrieved. Always December of previous year.
    • Scope: SYENSQO 
    • Variant: 2 (IFRS consolidation taken as reference)



The Restrictions tab defines the data entry restrictions which are applied when the data is entered.

The flow F00 (Opening Balances) must be informed in Read-only Flows, to prevent any change in Opening Balances.



The Operation tab defines the settings to publish the packages. 

In the Deadline it has to be informed the date that the packages will have to be published.

It has to be changed each quarter, after the mass unlock of the packages, according to date defined in the Syensqo Closing Calendar available in the GAR SYENSQO AODOCs Library.

Automated integration after publication must be activated


The Translation tab defines the object descriptions for the selected language. 

Both French and English should be informed: SYENSQO Shareholding - YYYY.12



5.2 REPORTING SETUP - RU Organizer

In the RU Organizer is defined the companies to be reported in the category.


In the RU Organizer module , right click "Insert reporting units" 













As source select the Reporting ID ACTUAL0 from previous year YYYY-1.12




Then the reporting packages are created in RU Organizer module.

Note that the packages will have the status , meaning that they are still not available in the Package Manager module.



Before Generate the packages to the Package Manager module, ensure that all the companies are with the correct Consolidation Method (column Entity Portfolio), and if any company needs either to be added or deleted.




Changes required for Non Consolidated companies before Generation: Opening balance + Set Folders & Controls



  • Before to launch the generation, change the Opening Balance of Non Consolidated companies - scope SYENSQO to SYENFULL (Non Conso are not in SYENSQO scope):
  • CTRL+A to select Non Conso
  • Then Properties 











  • In Package Tab, replace SYENSQO by SYENFULL
  • Then Apply













Before to launch the generation, change the Folder and Set of controls


  • CTRL+A to select Non Conso
  • Then Properties 























Back to Home Screen, check that Folders and Set of controls of Non Conso have been updated





To make the reporting available in the Package Manager module, select all packages and with the right click choose "Generate Package at Current Site".





The package status changes to , meaning that the package are now available in the Package Manager module.







5.3 REPORTING SETUP - Package Manager

Once generated, Reporting packages appear as available in the Package Manager module.

Through this module,  follow-up on packages status (Empty, Changed, Published & Integrated). 


5.4 REPORTING SETUP - Pre-loading of F99 at the beginning of the year

As of 2022, F99 "Closing balance" of L4005 (Investments - number of shares) and L4020 (Shareholder’s equity) is pre-loaded with the F00 "opening data".

To ease the reporting process for the CAM and Accounting Platform managing companies hosting significant numbers of investments or mothers, GAR and FSL SU FA teams requested the pre-loading of F99 in headings XCQ261T / XCQ262T / XCQ101T with the values from previous year (=F00 Opening flow from current year) but keeping the possibility to edit/modify the preloaded data. Change requested for all companies whatever their consolidation status.

At the publication of the packs, CAMs should confirm or modify the values pre-loaded in F99.

As a result, a new formula in the category scenario of ACTUAL0 has been introduced: 

In order to ensure that this automatic pre-filling is working it is recommended to open 1 package per each consolidation method (IG IP MEQ NC) right after the package generation  to check in schedules L4005 and L4020 that the pre-loading is working as expected.


in the Package Manager module, select one of each conso method package.


Open schedules L4005 and L4020.


Check F99 is equal to F00 and it is editable. 


Check F99 is equal to F00 and it is editable. 

6. SCOPES OF CONSOLIDATION

6.1 SCOPES OF CONSOLIDATION - SYENFULL

  • SYENFULL definition- ALL companies (IG IP MEQ NC) considered as 100% consolidated (as if they were all IG)

One scope SYENFULL per year to be updated all during the year each time a change is communicated (by Syensqo Group General Secretary or by Syensqo GAR in its structure file).


The scope is created in the BFC _Top_SCO, with reference to the one of the previous year.

For this, open the last version available of the scope and select the option Save As.


In this example, to create the scope for 2024, it was created as reference to the scope of 2023.


Enter the information necessary to create the new period.

  • Code: SYENFULL
  • Period: YYYY.12
  • Version: S-1



In the step Definition, update the period informed in the Opening Scope to the previous year.




Then the scope for the new period is created - in the example here SYENFULL 2024.12.

Note that this scope only allows companies set as Full conso (FC), this way when there is the end of a company and its Consolidation Method is changed to Not Consolidated the company is automatically excluded from the scope.

Even though, in the step Scope, ensure that all companies that left the Group in the previous year are not present in the scope for the current period.










After all the information is validated the scope has to be transferred to the BFC_Prod_SCO platform.



6.2 SCOPES OF CONSOLIDATION - SYENCONSO

  • SYENCONSO definition - IG companies consolidated at 100% / IP MEQ and NC consolidated as IP at their % of interests

One scope SYENCONSO per year to be updated all during the year each time a change (new companies, leaving companies, change in interests %) is communicated (by Syensqo Group General Secretary or by Syensqo GAR in its structure file).

The scope is created in the BFC_Top_SCO, with reference to the one of the previous year.

For this, open the last version available of the scope and select the option Save As.


In this example, to create the scope for 2024, it was created as reference to the scope of 2023.


Enter the information necessary to create the new period.

  • Code: SYENCONSO
  • Period: YYYY.12
  • Version: S-1


In the step Definition, update the period informed in the Opening Scope to the previous year.




Then the scope for the new period is created.

Note that this scope only allows companies set as Full conso (FC) or Proportional Integration (IP), this way when there is the end of a company and its Consolidation Method is changed to Not Consolidated the company is automatically excluded from the scope.

Even though, in the step Scope, ensure that all companies that left the Group in the previous year are not present in the scope for the current period.










After all the information is validated the scope has to be transferred to the BFC_Prod_SCO platform.



6.3 SCOPES OF CONSOLIDATION - SYENSQO

  • SYENSQO - includes IG / IP / MEQ companies only (Non Conso excluded)- note that this is the scope also used in IFRS ACTUAL2 consolidation

One scope SYENSQO per month to be updated every WD1 (new companies, leaving companies, change in consolidation methods or in interests %) following the information received during the month (by Syensqo Group General Secretary or by Syensqo GAR in its structure file).

The scope is created in the BFC_Top_SCO, with reference to the one of the previous month.

For this, open the last version available of the scope and select the option Save As.


In this example, to create the scope for 2024.01, we will use as starting point SYENSQO scope 2023.12


Enter the information necessary to create the new period.

  • Code: SYENSQO
  • Period: YYYY.MM
  • Version: S-4


In the step Definition, update the period informed in the Opening Scope to the previous year.





In the step Scope, the following procedure describes how to update the companies (insertion & deletion) Companies management in BFC - section 7.ScopeManagement


After all the information is validated the scope has to be transferred to the BFC_Prod_SCO platform.

6.4 SCOPES OF CONSOLIDATION - Transfer from BFC_Top_SCO to BFC_Prod_SCO

BFC _Top_SCO

In the Administration domain select the Task List module, then open the object SCO-ADMIN.



Click on the icon  New Transferable Object to select the type of object to be transferred.


Select the option Scope Builder.


Then within the object to be transferred, it has to be select the items.

Click on the button Select Items  and select the scopes to be transferred.



Back to the tab Definition, items selected to be transferred appear.

After have all items selected Save the task and close it.


With the right click on the object SCO-ADMIN select the option Start. After this step the task has been transferred to the BFC_Prod_SCO platform.


BFC_Prod_SCO


In the Administration domain select the Task List module, select the SCAN object with right click over it select the option Start.


Then a new object will be available in Receive Objects.


Open the new object and ensure that the items are those selected in BFC_Top_SCO.


With the right click on the object select the option Start to run the process.


After the process finishes, validate if the the Scope was properly transferred to the Scope Builder module.


7. CONSOLIDATIONS & INTERCO SETUP

7.1 CONSOLIDATIONS SETUP

There are 4 consolidations required for the ACTUAL0 category:

  • SYENFULL V2.
  • SYENCONSO V1 
  • SYENSQO V1
  • SYENSQO V2

This table summarizes purpose and usage of each:


To create a consolidation it can be done from scratch or with reference to the version of the previous year through the Save As option.


The management of Consolidations is done in the Consolidation module within the Operation domain.

The consolidations are set for the category period, which should be informed in the field Select Report IDs, in this example ACTUAL0 - 2023.12.



To create a consolidation from the scratch select the option Consolidation Definition.


To create the consolidation with reference to another one, open the consolidation of the previous year/ period, and within the menu File choose the option Save As.

Through this option all the information are retrieved from the previous consolidation, hence the some information need to be update according to the new period.

 

7.1.1 CONSOLIDATIONS SETUP - SYENFULL V2

In the tab General should contain the following information:

  • Category: ACTUAL0
  • Data entry period: YYYY.12
  • Scope: SYENFULL
  • Variant: 2
  • Currency: EUR 
  • Long Description: Syensqo full Scope 100% - For doc L4005/L4020 - Shareholding structure

 

In the tab Properties should contain the following information:

  • Scope Period: YYYY.12
  • Version: S-1
  • Set of rules: 0C-IFRS-2103
  • Multiply thresholds by: 1
  • Conversion Rate Period: YYYY.MM (latest available table in YYYY)
  • Conversion Rate Version: REEL


 

In the tab Opening Balances should contain the following information:

  • Category: ACTUAL0
  • Data entry period: previous YYYY.12
  • Scope: SYENFULL
  • Variant: 2
  • Currency: EUR
  • Source period: previous YYYY.12


The information in the other tabs is generated automatically.

 

7.1.2 CONSOLIDATIONS SETUP - SYENCONSO V1

In the tab General should contain the following information:

  • Category: ACTUAL0
  • Data entry period: YYYY.12
  • Scope: SYENCONSO
  • Variant: 1
  • Currency: EUR 
  • Long Description: SYENSQO Full Scope Ownership rate - For doc L4050- Financial information on NC cnies

 

In the tab Properties should contain the following information:

  • Scope Period: previous YYYY.12
  • Version: S-1
  • Set of rules: 0C-IFRS-2103
  • Multiply thresholds by: 1
  • Conversion Rate Period: previous YYYY.12
  • Conversion Rate Version: REEL

 

In the tab Opening Balances should contain the following information:

  • Category: ACTUAL0
  • Data entry period: previous YYYY.12
  • Scope: SYENCONSO
  • Variant: 1 (from 2022)
  • Currency: EUR
  • Source period: previous YYYY.12


The information in the other tabs is generated automatically.

 


7.1.3 CONSOLIDATIONS SETUP - SYENSQO VARIANT 1

In the tab General should contain the following information:

  • Category: ACTUAL0
  • Data entry period: YYYY.12
  • Scope: SYENSQO
  • Variant: 1
  • Currency: EUR 
  • Long Description: Syensqo Scope Y-1 - For doc L4060 - CBCR revenues



In the tab Properties should contain the following information:

  • Scope Period: previous YYYY.12 - Set for the quarterly closing of reference
  • Version: S-4
  • Set of rules: 0C-IFRS-2103
  • Multiply thresholds by: 1
  • Conversion Rate Period: previous YYYY.12
  • Conversion Rate Version: REEL


In the tab Opening Balances should contain the following information:

  • Category: ACTUAL0
  • Data entry period: previous YYYY.12 
  • Scope: SYENSQO
  • Variant: 1 
  • Currency: EUR

Source period: previous YYYY.12 

The information in the other tabs is generated automatically.



7.1.4 CONSOLIDATIONS SETUP - SYENSQO VARIANT 2

In the tab General should contain the following information:

  • Category: ACTUAL0
  • Data entry period: YYYY.12
  • Scope: SYENSQO
  • Variant: 2
  • Currency: EUR 
  • Long Description: SYENSQO Scope - For doc L4005/L4020  - Shareholding structure

In the tab Properties should contain the following information:

  • Scope Period: YYYY.MM - Set for the quarterly closing of reference

Version: S-4

  • Set of rules: 0C-IFRS-2103
  • Multiply thresholds by: 1
  • Conversion Rate Period: YYYY.MM (latest available table in YYYY)
  • Conversion Rate Version: REEL

In the tab Opening Balances should contain the following information:

  • Category: ACTUAL0
  • Data entry period: previous YYYY.12
  • Scope: SYENSQO
  • Variant: 2
  • Currency: EUR

Source period: previous YYYY.12


The information in the other tabs is generated automatically.

7.2 INTERCOMPANY RECONCILIATION SETUP

Purpose of this reconciliation performed using ACTUAL0 scopes is to compare and check consistency between shares declared by mothers (schedule L4005 from ACTUAL package) versus the ones declared by daughters (schedule L4020 from ACTUAL0 package) using BFC report "CD190_8".


7.2.1 INTERCO SETUP - using consolidation SYENSQO V2 (IG IP MEQ only)

In the tab General should contain the following information:

  • Category: ACTUAL0
  • Data entry period: YYYY.12
  • Scope: SYENSQO
  • Variant: 2
  • Currency: EUR 
  • Reconciliation Variant: A-1


In the tab Definition should contain the following information:

  • Other set of rules: C-RAPRO-ACT0


  • Select reporting units to be processed: All reporting units


7.2.2 INTERCO SETUP - using consolidation SYENFULL V2 (Non Conso cnies included)

In the tab General should contain the following information:

  • Category: ACTUAL0
  • Data entry period: YYYY.12
  • Scope: SYENFULL
  • Variant: 2
  • Currency: EUR 
  • Reconciliation Variant: A-1


In the tab Definition should contain the following information:

  • Other set of rules: C-RAPRO-ACT0


  • Select reporting units to be processed: All reporting units


7.3 CONSOLIDATIONS SETUP - Quarterly Update

On a quarterly basis:

  • Periods of the Conversion Rate in the consolidation SYENSQO V2 and SYENFULL V2 should be updated to the ones applicable on the quarterly period.
  • In SYENSQO V2, the Scope must also be updated every quarter with the latest SYENSQO available

In the tab Properties update the following fields:

  • Conversion rate period to replace by the latest available Exc Rates table (YYY.03 early April / YYY.06 early July...)
  • SYENSQO V2: Scope period to replace by the latest available scope (YYY.03 early April / YYY.06 early July...)


 

7.4 CONSOLIDATION & INTERCO - Run scheduling

Purpose of this scheduling is to run automatically both consolidation and reconciliation on a given period and at a defined frequency.

4 tasks created to run each quarter on WD1 and WD2 every 4 hours:

  • Based on SYENSQO scope / variant 2:
    • Consolidation => ACT0-SYEN-V2
    • Corresponding interco reconciliation (comparing shares numbers declared by mothers & daughters) => A0-INT-SYENS 
  • Based on SYENFULL scope / variant 2:
    • Consolidation => ACT0-SYEFULL
    • Corresponding interco reconciliation (comparing shares numbers declared by mothers & daughters) => A0-INT-SYEF 





Every quarter, the period of validity needs to be updated to start from WD1 morning and to finish at the end of WD2.


Besides the adjustment on dates (to be done every quarter), tasks definition must also be updated once new conso & interco 12.YYYY has been set up. 

In the example on the right, 2023.12 value for 2023 reporting.




8. CLOSING SUPPORT: MASS LOCKS & UNLOCKS

8.1 MASS LOCKINGS

Every quarter, BFC Admin supports FSL SU FA GL (responsible to control the accuracy of ACTUAL0 reporting) by locking companies which are late.

The scope of companies to be locked in Q1 Q2 Q3 Q4:

Process to follow before doing the locking:

Morning of WD1: once GO given by FSL SU FA GL team - Delphine Barbier + Ana Karoline REIS+ Tiago Filipe SILVA / copy Bernard Marechal from GAR (do not hesitate to chase if no feedback from FSL SU FA GL in WD2) to force the publication:

    • Publish the missing packages and confirm when done (no print screen)






















8.2 MASS UNLOCKINGS

 Once FSL SU FA GL team has finished its quarterly checks and shareholdings reconciliations, BFC Admin will support to reopen massively the ACTUAL0 packs.

The scope of companies to be unlocked or not depends on the reporting period - below the scope to be considered in Q1 Q2 Q3 Q4:




Process to follow before doing the mass unlocking:

Morning of WD5:

  • Send a mail to FSL SU FA GL team - Delphine Barbier + Tiago Filipe SILVA  / copy Caio Morgon from GAR
    • Asking to confirm that BFC Admin can unlock massively - precise in the mail which companies' type (IG/IP/MEQ/NC) will be unlocked to avoid any confusion






Once GO given (do not hesitate to chase if no feedback from FSL SU FA GL in WD5) to unlock:

  • Unlock the packages
  • Confirm by mail to FSL SU FA GL team that unlocking done



















9. COMPANIES OPERATIONS

9.1 COMPANIES OPERATIONS - New Companies

When the group acquires a new company, whatever its consolidation status, a package has to be created in the ACTUAL0 Category.

To create the package ensure that the company has already been created in BFC, otherwise follow the instructions in the Procedure related to Companies management in BFC:


After the communication from the Corporate Secretary, the information about the concerned company should be available in the Structure File available in the GAR SYENSQO AODOCs Library.




In the BFC_Prod_SCO, enter in the category for the correspondent period.



Within the Operation domain select the RU Organizer module.

Click on the icon  Insert Reporting Units to create the package for a new company.


Enter the BFC Code of the new company.


The package will be available in the RU Organizer module, and information needs to be confirmed before generate to the Package Manager module.

Open the package information and validate if the settings are in accordance to the Consolidation Method of the company.

By default, when a package is added through the Insert Reporting Units option, the definitions are the same than the Category created in the Reporting Organizer module, it means, the package has the definitions of a Consolidated company. Then if the new company is a not consolidated, the definitions have to be changed.


In the tab Package it will be informed what determines the documents that are shown at the company's package, as well as the set of rules (Validations), opening balance, and the Scope that the company is assigned on this phase.

Since the schedules collected for a Not Consolidated and a Consolidated (IG IP MEQ) company are different, this tab has some specification for each type of company.  Set of schedules per type of company are defined in this document "BFC Admin Reporting set up per category and period"


Non Consolidated Company

  • Blocking - Flag the option Blocking.
  • Opening balance:
    • Category: ACTUAL0.
    • Data entry period: YYYY-1.12 - Inform the period which the opening balances are retrieved. Always December of previous year.
    • Scope: SYENFULL - This scope is taken into account all the companies in the Group's structure.
    • Variant: 2 - This information is related to the consolidation rules, in this instance is the variant 2, which considers the IFRS Norms.
    • Consolidation currency: EUR - The Group Consolidation Currency, always EUR, regardless the company currency.






Consolidated Company (IG IP MEQ)

  • Blocking - Flag the option Blocking.
  • Opening balance
    • Category: ACTUAL0.
    • Data entry period: YYYY-1.12 - Inform the period which the opening balances are retrieved. Always December of previous year.
    • Scope: SYENSQO- This scope is taken into account just the consolidated companies.
    • Variant: 2 - This information is related to the consolidation rules, in this instance is the variant 2, which considers the IFRS Norms.
    • Consolidation currency: EUR - The Group Consolidation Currency, always EUR, regardless the company currency.



The tab Restrictions is automatically filled, but it is necessary to confirm that the option Read-only flows is set for the F00, this means that the opening balances are not available for edition.

Then save .



All the other tabs are automatically filled.



Outside the package creation/edition screen, make sure all the information is compliant.

At this stage the package is created at the "RU Organizer" module.

Its status is: The package has not been generated.






To generate the package, choose with right click the option: Generate Package at Current Site.


Then status will be changed, meaning that the package is now available at the "Package Manager" module, thus available for the users that have access for this company at this phase.



9.2 COMPANIES OPERATIONS - End of Companies (liquidated / merged / sold)

Reporting Setup


Generally, for the companies that left the Group during the course of the year, the packages remain in the ACTUAL0 - YYYY.12, however at the beginning of the next year the packages should not be generated.

Along the year YYYY the packages of these companies should stay Protected, instead locked, this way it is possible to identify the companies that left the Group.


Scope of Consolidation


When a company left the Group, the company should be updated in the Scope of Consolidation.

The companies should be set as Not Consolidated and their Financial and ownership interests set to 0 in the three scopes:

  • SYENCONSO
  • SYENFULL
  • SYENSQO

Note that in SYENCONSO and SYENFULL scopes, it is not necessary to create an intermediate package for the company in the tab Incoming/Outgoing of the scope.

While in the scope SYENSQO there are only Consolidated companies, it means that just the companies IG, IP and ME can be excluded from this scope, and it should be created the intermediate package for these companies in the tab Incoming/Outgoing of the scope. For more details of operations in the scope SYENSQO, scope, refer to the Procedure related to Companies management in BFC.



9.3 COMPANIES OPERATIONS - Change of Consolidation Method

The change of the method of consolidation concerns the transition from the Not Consolidated/ Equity Method/ Proportional to Full Consolidated, or vice versa. In other words, this transition is assimilated to either an increase or decrease in the rate of integration.

The change of consolidation method should be communicated by the Syensqo Corporate Secretary as well as available in the Structure File within the GAR SYENSQO AODOCs Library.


As a consequence of such change, content of their ACTUAL0 package may have to be amended, as well as the reporting setup and the scope of consolidation.


Reporting Setup


In the BFC_Prod_SCO, enter in the category for the correspondent period, in this instance, it should be ACTUAL0 – 2017.12.

Within the Operation domain select the RU Organizer module and open the company to be updated.



In the tab Package it will be informed what determines the documents that are shown in the company's package, as well as the set of rules (Validations), opening balance, and the Scope that the company is assigned on this phase.

The information in this tab has to be updated according to the new consolidation method.


Company moving to Not Consolidated status

  • Blocking - Flag the option Blocking.
  • Opening balance:
    • Category: ACTUAL0.
    • Data entry period: YYYY-1.12 - Inform the period which the opening balances are retrieved. Always December of previous year.
    • Scope: SYENFULL - This scope is taken into account all the companies in the Group's structure.
    • Variant: 2 - This information is related to the consolidation rules, in this instance is the variant 2, which considers the IFRS Norms.
    • Consolidation currency: EUR - The Group Consolidation Currency, always EUR, regardless the company currency.




Company moving from Non Conso to Consolidated status (IG or IP or MEQ)

  • Blocking - Flag the option Blocking.
  • Opening balance
    • No change. If we change to SYENSQO, no opening will appear as the company was not in this SYENSQO conso previous year





Scope of Consolidation


Within the Operation domain, select the Scope Builder module and open the scope SYENCONSO, then choose the company that needs to be updated and change:

  • Financial Interest at Closing: Enter the rate
  • Ownership Interest at Closing: Enter the rate
  • Method at closing: Select the new method of consolidation





In the scope SYENSQO, if a company changes from Not Consolidated to Consolidated the company needs to be added to the scope. For this, within the scope, click on the button Insert Reporting Units  and enter the company code and rates.

If the company was already present in the scope and changed the consolidation method, its information needs to be updated in accordance to the new method.




When a company change its Consolidation Method no action is needed in the Scope SYENFULL, since all companies are set as Full Consolidated.




END OF PROCEDURE