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The expression “financial statements for statutory publication” refers to the 3 following financial statements whose items are calculated from Balance Sheet movements and Income Statement items:

− Statement of Cash Flows (SCF) − Statement of Changes in Equity (SCE)

− Statement of (Other) Comprehensive Income (SCI)

• The Statement of Cash Flows, which is retrieved according to the indirect method, derives from the Balance Sheet flows and the Income Statement accounts. It discloses cash effects from operating, investing and financing activities as required by the IAS 7. • The Statement of Changes in Equity discloses an analysis of the variation of the total

equity (group and non-controlling interests) over the current period.

• The Statement of Other Comprehensive Income takes its starting point in the net income for the period and then provides a detailed view of the other components.

The total comprehensive income is split between group and non-controlling interests. Note:

According to IAS 1 revised, the comprehensive income items can also be disclosed in the Statement of Comprehensive Income, which gives detail on the main Income Statement items and a summary of the other components of comprehensive income. However, this report has not been created in the starter kit.

Considering the large volume of data required to produce these 3 statements, the following Excel workbooks are defined:

− SCF.XLSM: Statement of Cash Flows. This workbook includes all accounts and flows necessary to compute the cash flow items, without breakdown by entity.

− SCI & SCE.XLSM for both the Statement of Other Comprehensive Income and the Statement of Changes in Equity. This workbook includes the required accounts and flows, and the breakdown by entity, as needed for the statement of Other Comprehensive Income.

Financial statement items are calculated with standard Excel formulas and therefore, are not stored as application data. The first set of these formulas essentially aim at distributing figures of all required indicators into financial statement items according to a mapping table. The second set of formulas is meant to actually produce financial statements by aggregating the data distributed in all items and present it in reports.

The Excel workbooks are structured with the following tabs:

− Data: retrieves all indicators from the consolidation that contribute to financial statement items. Figures are obtained with a standard EPM report that expands indicators in rows and periods in columns. For the Statement of Changes in Equity and the Statement of Other comprehensive Income, the entities are also expanded in the columns. The consolidation method, stored in the Ownership model is also retrieved thanks to the EPMRetrieveData formula (this formula requires the connection name to be input in cell B2).

− Account: lists all members of the Account dimension with their properties. They are used as the source of the mapping between indicators and financial statement items. This tab is also populated by an EPM report that expands all Account dimension members in rows. Member properties are retrieved by EPMMemberProperty functions.

− Item: contains all financial statement items used for the production of the Statement of Cash Flows, the Statement of Changes in Equity and the Statement of Other Comprehensive Income. They are defined within a hierarchy named Parent. For instance, the SCF account hierarchy notably includes the following nodes: Net Cash Flows from Operating activities, Net Cash Flows from Investing activities and Net Cash Flows from Financing activities. None of these items are part of any dimension declared in the consolidation models: they all must be created and maintained manually in the spreadsheet.

− Mapping: specifies cross-references between source accounts and flows on the one hand and financial statement items on the other hand. Like financial statement items, these cross-references are not either part of any dimension declared in the consolidation model: they also must be created and maintained manually in the spreadsheet. A more detailed description of the Mapping worksheet is provided hereafter.

− Matrix: contains only formulas. Some read into the Mapping spreadsheet to find which elementary pair of {account x flow} to assign with appropriate financial statement items. Other formulas fetch figures from the Data worksheet and assign them with a destination item on the basis of the related {account x flow} pair. A more detailed description of this worksheet is provided hereafter.

− SCI, SCF, SCE: contains financial statements, built with conditional sum formulas that aggregate data calculated on financial statement items in the Matrix worksheet.

In the Mapping worksheet, each cross reference, also called a mapping, has the following properties:

− Method: for specifying how to select source accounts. Possible values are Class or Mapping, to indicate which account property is referred to in the mapping.

− Value: for specifying which value of the previously chosen property is used to select source accounts. The specified value must exist in the set of values of the property chosen to select source accounts.

− Flow: for selecting source flows.

− Item: for specifying the destination financial statement item depending on the source accounts and the source flow. The item must exist in the set of items declared in the Item worksheet.

− Sign: for specifying if the account / flow combination must be positively or negatively copied to the item. Values must be 1 or -1.

− Rows: formulas calculating the cumulative number of rows required to expand all accounts for the specified selection method and value. These formulas should not be changed because their results are used in the Matrix worksheet.

The Matrix worksheet contains only formulas that recalculate elementary pairs of {account, flow} and determine to which related financial statement items their figures from the Data worksheet should be aggregated.

To make sure that all financial statement items are correctly calculated, a sufficient number of formulas must exist in the range. For instance, if a new mapping is created in the Mapping worksheet, additional rows within this range with appropriate formulas will have to be created, using a standard copy/paste of cells.

To help maintain this range, a control formula has been created in the first cell of its rightmost column. This formula shows a message indicating if the matrix has enough rows. If not, an error message is displayed that calculates how many additional rows are needed. These rows must be inserted and then formulas from an existing row can be copied and pasted to new rows.

The Mapping and Matrix worksheets are at the heart of financial statement items calculation in the Starter Kit. Therefore, they deserve particular attention if changes should be made to their content. In particular, it is strongly recommended not to make any changes to the way these formulas are designed, in order to preserve the correct calculation of all financial statement items.

The control formula message is displayed in all three financial statements: if an error is detected in the Matrix worksheet, all report titles are replaced by the error message.

6.2.

Audit of Financial Statement Items

It is possible to understand how each financial statement item has been calculated. The end user can drill down from one item of one of the financial statements for statutory publication (SCF, SCE, or SCI) through to the respective breakdown by original account and original flow.

This audit functionality of the statements is implemented via a VBA macro, named

FilterMatrix which shows up the Matrix worksheet with rows filtered according to the

financial statement item currently selected.

Thus, during operation, the end user can do the following:

• Right-click on one line of the Statement of Cash Flows, the Statement of Changes in Equity or the Statement of Other Comprehensive Income.

• Execute the Audit command at the end of the shortcut menu. The breakdown by source account and flow shows up in the Matrix worksheet.