• Consolidation at
    the Push of a button

  • Integrated
    Financial Planning

  • Outsourced Consolidated
    Financial Statements

  • IFRS Conversion with
    LucaNet

  • Notes and ESEF
    Reporting

LucaNet and PAS Financial Advisory

For over 20 years, CFOs, group accountants and controllers have valued LucaNet as a user-friendly solution for financial performance management.
Whether an up-and-coming start-up, a traditional family business or a listed corporation, LucaNet is the perfect solution for financial management for companies of all sizes and industries and leaves hardly any integration wishes unfulfilled with over 200 standard interfaces to ERP and financial accounting systems.
IDW PS 880 certified software for financial statements, financial planning, reporting and data management has received countless awards for its ease of use and performance. From independent bodies and - even more importantly - from you as a customer.
With a team of experienced and certified LucaNet consultants, which is unique in Germany, PAS Financial Advisory sells, implements and advises its customers as LucaNet.Partner on all topics relating to the LucaNet Suite and covers also the professional advice in finance and accounting comprehensively.

Consolidated financial statements

LucaNet comprehensively covers all steps of the preparation of consolidated financial statements. From the individual financial statements via adjustment postings, the reconciliation into parallel accounting standards (e.g. IFRS or US-GAAP) to the actual wizard-based consolidation. All consolidation methods, from equity to proportionate to full consolidation with minority interests, are supported. For each consolidation step, comprehensive wizards are available to the user that support the entire process up to complete automation as part of a consolidation run.
Multi-level consolidation hierarchies, simultaneous and successive consolidation, successive acquisition of shares, first-time and deconsolidation, consolidation of debt, expenses and income, elimination of interim earnings in current and fixed assets, observance of deferred taxes: everything was considered!

IFRS Conversion

When preparing IFRS financial statements (or US GAAP) for the first time, companies often still rely on supposedly flexible, but manual MS Excel solutions. However, these traditional Excel tools not only lead to increased effort, but also to a significantly higher susceptibility to errors. The more extensive and complex these Excel files become, especially for follow-up transactions, the less confidence there is that the data is error-free.
For this reason, PAS Financial Advisory relies on LucaNet for GAAP Conversions, unless the customer already has another consolidation solution. When preparing consolidated financial statements in accordance with international accounting standards, the software offers the following advantages:
  • Automated data transfer of local financial data via interfaces to MS Excel or more than 200 ERP and financial accounting systems.
  • Import of all document information such as cost centers/cost objects, partner codes and movement types.
  • Automated foreign currency conversion using exchange rate data available from the ECB.
  • Parallel mapping of accounting standards in accordance with HGB and IFRS, including notes information.
  • Clear and comprehensible separate recording of adjustment effects and consolidation postings using different valuation levels.
  • Automated consolidation using pre-configured apps.
  • Complete traceability from data collection to validation of the data.
In addition, LucaNet also enables the development of management reporting or integrated financial planning in accordance with the new accounting standards as well as the convenient preparation of IFRS notes and, if necessary, necessary ESEF reporting.

Integrated financial planning

LucaNet focuses on the planning of expenses and income (P&L), investments and financing. LucaNet then derives the plan balance sheet and the planned cash flow statement automatically and in real time using previously defined payment behavior and posting rules. This allows you to run through any forecasts and scenarios easily, quickly, and transparently after setting up the initial planning, as the original configuration can always be used at the push of a button and only selective changes have to be made.
Since the entire model is always recalculated in real time, any changes from the cost center to the company to the group level are immediately visible. For the creation of a plan, LucaNet provides a variety of templates and wizards that allow users to develop plan time series quickly and easily. By means of an Excel add-in also complex facts and plan time series in Excel can be transferred to LucaNet. In addition to maximum flexibility, this also gives you the opportunity to involve people in planning processes who do not (or should) have direct access to LucaNet.

Data and BI

For comprehensive financial management, data from a wide variety of sources and source systems must first be merged, checked and interpreted. LucaNet makes it easy to import, capture and validate data. No more time-consuming process with many manual steps, no more email floods or endless Excel spreadsheets, but just data you can rely on.
LucaNet also supports you comprehensively with evaluations and analyses of your financial processes. With its modular structure, LucaNet offers various evaluation and analysis options along the value chain, from the data source to the final dashboard.
With apps for the seamless connection of LucaNet to BI tools, such as Microsoft Power BI or any other common solution, a fully integrated combination of financial performance management and business intelligence is possible. The data model generated in the LucaNet app already contains all the information that Power BI, for example, needs to automatically recognize the relationships between tables. All data has already been fully validated and coordinated in advance, so that no incorrect figures are adopted. All you must do is select the relevant tables and import them with a mouse click. No further adjustments to the LucaNet SQL database structure are necessary. So, you can start directly with the report setup and do not have to put any further work into the manual preparation of the data model.

Notes and ESEF

After the numerical consolidation, the process of creating finance and annual reports and actual reporting is very complex and error-prone in many companies.
Therefore, in disclosure management, put an end to the complex processing of a large number of different documents from different sources and departments with complex correction loops. Create consistent reports at the touch of a button.
Combine the advantages of LucaNet and SmartNotes, an AMANA product, and you get the perfect overall solution for creating your print-ready annual reports.
SmartNotes simply takes the basic data from LucaNet and ensures that annual and financial reports are created automatically and workflow supported. This allows you to significantly reduce your effort for manual editing during reporting.
Companies that are subject to the ESEF (European Single Electronic Format) reporting obligations for capital market-oriented companies and require technical iXBRL tagging for their annual report can also use the integrated XBRL tagger in SmartNotes.

Outsourced Consolidated Financial Statements

The preparation of consolidated financial statements is an activity for which companies regularly need employees with special specialist knowledge and special communication and organizational talent.
In addition, a separate consolidation software is usually required with which reporting packages or individual financial statements can be efficiently combined and consolidated into a transparent consolidated financial statement.
For these reasons, outsourcing can be worthwhile for companies that only have to prepare group reporting or formal consolidated financial statements in accordance with HGB or international accounting standards once a year or on a quarterly basis.
PAS offers the following services in the area of consolidated financial statements:
  • Advice on the planning, concept, and development of a consolidation for the purposes of management reporting or the preparation of consolidated financial statements in accordance with HGB, IFRS or US GAAP.
  • Support in the development of reporting packages (actual or planned figures) or the connection of local accounting systems to a consolidation system as well as the development of a consolidation process in the company.
  • Support in the selection and implementation of IT solutions for consolidation.
  • Support in the preparation of group chart of accounts and group manuals.
  • Implementation of appropriate training in the field of consolidation.
  • Regular consolidation of final reporting packages or individual financial statements (total balance sheet, debt consolidation, consolidation of expenses and income, elimination of interim results, capital consolidation) including reconciliation of consolidation differences.
  • Preparation of consolidated management reports (actual or planned figures) and complete consolidated financial statements (including cash flow statement, notes / notes, etc.) in accordance with HGB, IFRS or US GAAP.
  • Support with queries from management and auditors as well as the clarification of special questions (e.g. capital market peculiarities).
Sercan Aras
Sercan Aras has been working as a LucaNet consultant for 5 years. He started his career in 2017. In the year 2022. At the beginning of 2022, he joined the founding team of PAS to set up one of the leading LucaNet consultancies in Germany.
Christian Kestin
Christian Kestin has been a LucaNet consultant for 9 years. He started his career at LucaNet AG in 2013. In early 2022 he joined the founding team of PAS to build one of the leading LucaNet consultancies in Germany.
Marco Raida
Marco Raida has been working as a LucaNet consultant for 7 years. He started his career in 2015. At the beginning of 2022, he joined the founding team of PAS to set up one of the leading LucaNet consultancies in Germany.
Patrick Strehl
Patrick Strehl has been working in the LucaNet ecosystem for more than 5 years. After several years in auditing and accounting, he started as a senior consultant at LucaNet AG in 2016. In 2018, he moved to a LucaNet Premium.Partner and was a key player in the setup of the LucaNet Practice at that company. In mid-2022, he joined the founding team of PAS to build one of the leading LucaNet consultancies in Germany.