This publication focuses on the critical methods that can be used to
dramatically improve the fiscal closing process.
The Record to Report (R2R) or Fiscal Closing Process is at the core of
the controllership function. The process includes transaction
processing, internal and external reporting, and the internal
controls--the people, processes, and technology--that constitute the
corporate organizational hierarchy. CFOs, controllers, and corporate
finance departments require timely, accurate, and consistent data to
make appropriate operational and strategic decisions and fulfill
statutory, regulatory, and compliance requirements with accurate and
timely data. The Fast Close Toolkit offers both strategic and tactical
suggestions that can significantly improve the fiscal closing process
and provides guidance on new legislation requirements, systems and best
practice processes. Checklists, templates, process narratives, and
sample policies are provided for every component of the fiscal close.
Investors and shareholders expect fast and easy access to the data
created by current business activities in the information-driven digital
age. The Fast Close Toolkit provides the necessary tools and expert
advice to improve the fiscal closing process. Authoritative and up to
date, this book:
- Identifies the bottlenecks that can impact the and improvethe fiscal
close process and provides best practices to help alleviate these
challenges
- Defines the Record to Report (R2R) and recommends the roles and
responsibilities for fiscal close processes flow
- Offers the internal controls to use for the end-to-end fiscal close
process
- Describes approaches for risk management, R2R, and fiscal close
benchmarking
- Identifies KPIs for all aspects of the R2R process
- Provides the mechanism for developing a financial close scorecard
- Recommends leading practices for both external and internal reporting
- Provides guidance on how strategic planning, the budget and forecast
processes can be streamlined to enhance the fiscal close and internal
reporting results
Written by a respected expert on internal controls and the fiscal
closing process, The Fast Close Toolkit is a valuable source of
information for professionals involved in controllership and have
responsibility for the fiscal close.
