US groups with MYOB subsidiaries in Australia or New Zealand face a dual-close challenge — MYOB entities on a June fiscal year within a December US group. BrizoConsol handles the consolidation on any reporting cycle, same day your entities close.
Here is a realistic picture of the month-end close for a four-entity MYOB group, with and without BrizoConsol.
US groups with MYOB-using subsidiaries in Australia or New Zealand face a timing complexity: Australian entities close on 30 June (a different fiscal year than most US parents). BrizoConsol handles consolidations across different fiscal year-ends, allowing US parents to consolidate Australian MYOB entities on any reporting cycle.
Group consolidation has three phases: entity close, group processing, and reporting. BrizoConsol automates the processing phase entirely, and accelerates the other two.
Every consolidation run produces a complete reporting package — ready to share with the board, auditors, or investors the same day entities close.
Group revenue, gross profit, EBITDA, and net profit across all entities. Intercompany revenue and cost eliminated. Entity-level breakdown available on drill-down.
Available same dayFully balanced, intercompany receivables and payables eliminated, investment in subsidiaries eliminated, CTA in equity, NCI disclosed separately.
Available same dayGroup liquidity view with intercompany cash transfers stripped out. Operating, investing, and financing activities across all entities.
Available same dayFull record of every elimination applied — auto and manual. Categorised by type, amount, entity pair, and basis. Ready for auditor review.
Available same daySide-by-side entity performance for the period — revenue, margin, and expense variance vs prior period and budget. Identifies which entities drove group performance.
Available same dayLive KPI dashboard updated with the latest consolidated data. Pulse health scores across cash flow, AR, margin, and operational metrics at group and entity level.
Available same dayMYOB is the dominant accounting platform for Australian and New Zealand businesses. Groups headquartered in Australia or New Zealand — with entities spanning AUD, NZD, and other regional currencies — are BrizoConsol's core MYOB user base. Whether you're a private equity-backed portfolio, an ASX-listed group, or a family-owned multi-entity business, BrizoConsol fits the way AU/NZ groups actually operate.
Australian groups typically operate as a Pty Ltd holding company owning one or more Pty Ltd or Ltd operating subsidiaries — often with a New Zealand arm and, increasingly, a Singapore or UK entity. BrizoConsol consolidates all entities under AASB 10, applying FCTR per AASB 121 and NCI where ownership is less than 100%.
Many Australian groups use a combination of MYOB AccountRight (for the main holding entity) and MYOB Business (for smaller subsidiaries). BrizoConsol connects to both MYOB products and consolidates them in a single run — no need to export and reconcile between products.
AU/NZ groups are a natural fit for multi-currency consolidation. BrizoConsol translates NZD entities into AUD under AASB 121 — applying closing rates to Balance Sheet items and average rates to P&L — and calculates the FCTR automatically. No separate currency workbook needed.
Australian groups that grew through acquisition often end up with some entities on MYOB and others on Xero or QuickBooks. BrizoConsol consolidates across all platforms in one run — every entity is treated equally regardless of which accounting system it uses.
US groups preparing consolidated financial statements under US GAAP must comply with ASC 810 Consolidation, with foreign currency translation governed by ASC 830 Foreign Currency Matters. BrizoConsol automates ASC 810-compliant consolidation for US groups using MYOB, including NCI attribution under ASC 810-10-45 and CTA calculation under ASC 830 included in Other Comprehensive Income (OCI).
ASC 810 requires a US parent entity to consolidate all subsidiaries it controls through a majority voting interest or through variable interest entity (VIE) relationships. NCI (non-controlling interest) is presented separately within equity under ASC 810-10-45. BrizoConsol applies ASC 810-compliant logic — including full intercompany elimination and NCI attribution — across all connected MYOB entities automatically.
US groups with foreign subsidiaries apply ASC 830 Foreign Currency Matters. BrizoConsol applies the current rate method — closing rates to Balance Sheet items, weighted average rates to P&L — and calculates the Cumulative Translation Adjustment (CTA). The CTA is included in Other Comprehensive Income (OCI) in the consolidated Balance Sheet, consistent with ASC 220 and ASC 830 requirements.
US public companies filing with the SEC under Regulation S-X must present consolidated financial statements audited by a PCAOB-registered firm. BrizoConsol produces audit-ready consolidated output — with full elimination audit trails and period-by-period CTA schedules — that can be handed directly to your external auditors. All adjustments are traceable to the originating MYOB entity and transaction.
US-based groups typically operate subsidiaries in Canada (CAD), the UK (GBP), Australia (AUD), India (INR), and the UAE (AED) — each requiring USD translation under ASC 830. Many use MYOB in their US entities and Xero, MYOB, or other platforms overseas. BrizoConsol consolidates all of these currencies in a single run, applying ASC 830-compliant rates automatically.