Due to the Bank Holiday in Italy and in other many countries on 1st November, we decided to skip the Closing of 1 day.
I am sorry for the very short notice, but I have already anticipated this matter to many of you.
Since the total days available for the Closing are unchanged (for VW 1st of November is not a Bank Holiday), we absolutely need that the given deadlines are met.
On Wednesday 2nd November we will give you the usual support in order to get the I/C reconciliation as soon as possible. As you know, it’s not possible to do this in advance, due to the fact that shipments will be performed until the last minute.
In order to anticipate possible issues, on Monday 31st August we will provide you a list of missing I/C invoices in your Account Payables (if any). On your side, it’s requested that you have already posts all the relevant transactions (I/C accruals, Stock in Transit, etc.)
The suggestion is to complete all the remaining tasks, and wait for the final confirmation of I/C balances, in order to be ready with the Financial as soon as the amounts are reconciled.
Please wait to post the Income Tax accruals until you are sure that everything is checked and reconciled (see above).
The goal is to have the definitive Consolidated EBIT within the 3th November (morning, Italian time), including the Western companies for which we have to wait due to the time-gap.
As usual, it’s a “challenging” time-table, and so we ask you the usual maximum cooperation.
We remain at your disposal for any clarification.
Thanks in advance and best regards,