Working papers
Definition
The schedules behind the group figures: mapping, translation, eliminations and reconciliations. They let a reviewer trace any group number back to the companies' books.
Why does it matter in a group?
Working papers are the schedules behind the group figures: the mapping, the translation, the eliminations and the reconciliations. A reviewer who can open them can follow any group number back to the companies’ books without asking the preparer. They are also the record that the month was closed in a set order. They hold each company’s trial balanceTrial balanceA list of every account balance at a date, with total debits equal to total credits. It is the starting point for consolidating a company's figures.Open the glossary entry, the elimination entriesElimination entryA group-level entry that removes balances and transactions between group companies.Open the glossary entry and the workings for the translation reserveTranslation reserveThe part of group equity that holds exchange differences from translating a foreign subsidiary into the group's currency.Open the glossary entry. Auditors ask for them at the year-end, and a month that is already documented makes that a short conversation.
A small example
Group revenue for September 2026 is GBP 1,862,840. The mapping schedule shows Zenvara 625,000, Fernhollow 346,840 and Palmridge 972,000. The elimination schedule removes 81,000 of intercompany services. A reviewer can check the total in one line.