US GAAP Groups · Track 2 · Tutorial 3 of 3

Bring subsidiaries’ local-standard figures onto US GAAP

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Your subsidiaries keep their books under the standards that apply to them. Where a local standard treats something differently from US GAAP, you adjust for it at group level, with a journal on the group.

You will needUS GAAP switched on for the group, as in Switch on US GAAP and classify equity. The adjustment worked out, for example from the asset register. Journal access in BrizoConsol.
By the endCompany A’s land revaluation reversed on the group’s figures, so the US GAAP balance sheets carry the land at cost and balance, with a journal that is easy to tell apart from other adjustments.

1Know where the adjustment goes

Company A keeps its books under a local standard that lets it revalue land. On 31 March 2026 it revalued its land up 50,000: its land account went up 50,000, and so did 3400 Revaluation Reserve. Under US GAAP, property, plant and equipment stays at cost (ASC 360), so the group takes the revaluation out.

Company A revalues its land up 50,000 under its local standard; a PP&E journal on the group, US-GAAP-REVAL-2026-03, reverses the revaluation, so Your Group carries the land at cost with no revaluation reserve
The adjustment is a journal on the group.
Posted on the groupThe journal is entered with Your Group selected, so Company A’s own figures and reports stay as its books are.
Part of the one consolidationBrizoConsol has no US GAAP-only entries. The journal is in the group’s Base reports as well as its US GAAP statements.
Easy to findA Journal ID that starts with the standard, such as US-GAAP-, and the matching Journal Type let you list every US GAAP adjustment at once.

Base doesn’t show the local-standard total once you adjust. After you post the journal, the group’s Base reports include it too. There is no view of the group without your US GAAP adjustments.

2Reverse the revaluation

  1. Select Your Group, and open Adjustments → GAAP Journals. Keep the Scenario on Actual.
  2. Click Add a new journal entry.
  3. Enter the Journal ID US-GAAP-REVAL-2026-03, the date 31 March 2026 — the date of the revaluation — the Journal Type PP&E, and the Description US GAAP: reverse Company A land revaluation (ASC 360 cost model).
  4. Debit 3400 Revaluation Reserve 50,000, credit 1550 Land 50,000, check Entry is balanced, and click Confirm.
A new journal entry US-GAAP-REVAL-2026-03, journal type PP&E, dated 31 March 2026: debit 3400 Revaluation Reserve 50,000, credit 1550 Land 50,000, balanced
The ID starts with the standard (1), and the type says what it is (2).

The journal is posted once. Both accounts are on the balance sheet, so the reversal carries into every later month.

A revalued buildingReverse the depreciation on the revalued amount as well: each month, credit depreciation and debit accumulated depreciation by the extra charge, with the same Journal Type.
Deferred tax on the revaluationIf Company A recorded deferred tax on the surplus, reverse that in the same journal.
A subsidiary in another currencyCompany A’s books are in SGD, the group currency, so the exchange rate stays at 1.0000. For a subsidiary in another currency, set each line’s exchange rate.

3Check the adjustment

  1. On GAAP Journals, type US-GAAP- in the search box. The revaluation journal is listed, and nothing else.
  2. Open Reports → All Reports → Consolidated Balance Sheets for 2026.

Check

Non-Current Assets are 50,000 lower. Total Equity is 1,767,100, the same as on the group’s Balance Sheet, where 3400 Revaluation Reserve is now nil, and Total Liabilities and Stockholders’ Equity equals Total Assets.

4If something goes wrong

GAAP Journals isn’t under AdjustmentsNo accounting standard is enabled for the group. Enable US GAAP on the Accounting Standard page.
The balance sheets still don’t balance3400 isn’t nil: the journal is for a different amount or month than the revaluation. Or an equity account isn’t classified — see Switch on US GAAP and classify equity.
Journal ID already existsEach Journal ID can be used once. Add the month, as in US-GAAP-REVAL-2026-03.
Duplicated account is not allowed in journal lines.The same account is on two lines. Combine them into one.
The search finds journals that aren’t US GAAP adjustmentsThe search covers every field, including descriptions. Keep the US-GAAP- prefix for US GAAP adjustments only.
One or more selected periods are locked.The month is locked in BrizoConsol. Ask an administrator to unlock it, or post the adjustment in an open month.