KnowledgeLeader Blog

Is Your Financial Close and Reporting Process Too Manual?

Posted by Protiviti KnowledgeLeader on Fri, Aug 25, 2017 @ 11:47 AM

Most organizations continue to invest a significant number of hours every month in a particular set of activities related to calculating, manipulating and validating critical financial reporting data using spreadsheets. Organizations should be asking whether this level of effort represents incremental value to the financial reporting process and whether this actually does needs to be done in spreadsheets.

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Topics: performance management, performance measurement, accounting/finance, financial reporting, close the books

Close-the-Books Guide: Reduce Financial Close Risk and Maximize Efficiency

Posted by Protiviti KnowledgeLeader on Fri, Aug 04, 2017 @ 07:30 AM

A fast, close-the-books process provides multiple benefits for the finance function and for the company. First, a fast close process creates more time for finance professionals to focus on strategic activities for the company, such as identifying warnings in financial data and providing the corporation's financial direction. It also reduces the cost of the finance function, since fewer hours are needed to close the books. And it demonstrates that the company's controls and systems are well organized; the company sends the message to its competitors and to the investment community that it is expert at performing business processes.

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Topics: performance management, risk assessment, performance measurement, accounting/finance, financial reporting, close the books

The Financial Consolidation Season is Quickly Approaching

Posted by Lark Scheierman on Thu, Dec 10, 2015 @ 09:12 AM

Financial consolidation is the process of combining the financial results of several subsidiary companies into the combined financial results of the parent company. During this process, business complexities arise, questions must be answered, and long hours are often clocked by employees in the accounting and finance departments. It’s also a good time to think about how to improve the internal control structure to keep the process running smoothly.

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Topics: accounting/finance, financial reporting, RCM, consolidation

Internal Controls Checklist

Posted by Sharise Cruz on Tue, Feb 03, 2015 @ 09:13 AM

Each month, we'll be giving our social media and blog followers special access to download one of our most popular recently published tools. 

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Topics: internal controls, free tool of the month, expense reporting, accounting/finance, financial reporting, fixed assets, checklists, close the books

Internal Controls Checklist Sample

Posted by Sharise Cruz on Wed, Oct 08, 2014 @ 07:21 AM

Each month, we'll be giving our social media and blog followers special access to download one of our most popular recently published tools. 

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Topics: internal controls, expense reporting, accounting/finance, financial reporting, fixed assets, checklists, close the books

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