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The IDES group comprises four subgroups. The
European subgroup consists of five companies, North America has two. Latin
America and Asia each consist of one company. Each of these companies has
its own clearly defined business objectives within the consolidated group
and is organized according to local business practices and legal
requirements. Consolidation takes place across the financial areas.
For
example, the French subsidiary operates solely as a sales company, or in
Mexico, we represent high-inflation methods and the material ledger. The
American and German subsidiaries produce goods, as well as carrying out
purchasing and sales activities. Accounting and Human Resources for each
individual company have been adapted to meet the particular business
objectives. Germany and the United States, for example, have been set up to
use flexible standard costing, whereas the United Kingdom uses static
standard costing based on full costs.
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