Patent ID: 8622290

Claim:
A system for multiple rate currency consolidation, the system comprising one or more processors and having: a data store storing at least exchange rate data for a plurality of subsidiaries arranged in a subsidiary hierarchy; one or more system modules for performing processes and communicatively coupled with the data store, the one or more system modules configured to collectively, at least: receive a request for consolidated financial data from a requesting subsidiary of the plurality of subsidiaries; traverse a data structure representing the subsidiary hierarchy at least in part to identify a functional currency for financial data associated with each of a traversed subset of the plurality of subsidiaries in the subsidiary hierarchy; in response to the request for consolidated financial data, access, from the data store, at least one exchange rate between the identified functional currencies of at least one pair of subsidiaries in the traversed subset of the plurality of subsidiaries in the subsidiary hierarchy; convert at least a portion of the financial data associated with each subsidiary of the traversed subset of the plurality of subsidiaries to the identified functional currency of a related subsidiary positioned higher in the subsidiary hierarchy based at least in part on the at least one exchange rate; and calculate the consolidated financial data based at least in part on the converted financial data associated with each subsidiary of the traversed subset of the plurality of subsidiaries, the consolidated financial data being calculated in the functional currency associated with the requesting subsidiary; and wherein the one or more processors are configured to collectively facilitate the one or more system modules.