A yearly financial close can be a laborious process that accounting and finance departments dread. It requires tracking down information from other departments, ensuring financials are accurate, and identifying/correcting errors. However, a financial close is only as hard as the business makes it. Having processes and procedures in place from the start will help minimize the time it takes to finalize a close. Here are a few steps that a company can take to help save time, reduce errors and increase the efficiency of their financial close.
Cathy Becker, CPA, Senior Controller and Project Manager here at AccountingDepartment.com, joined up with the Jirav.
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