The fast close toolkit

by Doxey, Christine H.

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Title Statements

Full title :The fast close toolkit / Christine H. Doxey.

Summary

"Fiscal closings are controlled by statutory, regulatory, and compliance requirements. Global organizations are required to support reporting with multiple accounting standards, and new legislation requires new systems and processes. The information age has created a class of investors and shareholders who expect fast and easy access to the data created by current business activities. This book provides a "toolkit" approach that presents both strategic and tactical suggestions that can help dramatically improve the fiscal closing process. This book: Defines the Record to Report (R2R) and fiscal close process flow; Identifies KPIs for R2R process; Defines the bottlenecks within a company's financial close process; Provides the best practices to improve a company's fiscal closing process; Provides the mechanism to develop a financial close scorecard; Defines a R2R and fiscal close benchmarking approach; Defines a risk management approach for the fiscal close process; Offers the internal controls to use for the end-to-end fiscal close process"--

Edition Statements

Publication Date:2020

Publication Statements

Publisher(s):Wiley
Place of Publication:Hoboken, New Jersey
Language:eng
Publication Date:2020

Notes

Includes index.

The Physical Object

Description:1 online resource

Edition Identifiers

ISBN:9781119554448, 1119554446, 9781119554523, 1119554527, 9781119554431, 1119554438
oclc:on1124777024
LC Classification:HF5681.C45
Dewey Decimal:657

Why the continued focus on the fiscal closing process? -- Key pain points and bottlenecks -- The components of the fiscal close -- Governing the fiscal close process -- The transaction accumulation, reconciliation and sub-ledger close -- Introduction to the standards of internal control -- Roles and responsibilities during the fiscal close -- The general ledger and trial balance -- The common chart of accounts -- Cost centers -- The journal entry process -- Spreadsheet controls -- Checklists for the transaction accumulation and sob-ledger close -- Sample policies for the transaction accumulation, reconciliation and subledger close -- Process narratives for the transaction accumulation, reconciliation and sub-ledger close process -- Standards of internal control for the transaction, accumulation, reconciliation and sub-ledger close process -- Corporate close and consolidation -- The number of consolidation points -- The number of closing cycles -- Post-closing entries -- Communication and accountability -- Financial statement assertions -- Checklists for the corporate close and consolidation process -- Sample policies for the corporate close and consolidation process -- Process nar…