Farr, Liz
How organizations can streamline the month-end close
The article discusses the ways sought by companies to streamline processes for month-end closing of books, which can make accountants spend less time collecting numbers, gives opportunity to take corrective action, and resulting to efficiencies and cost savings. It offers practices to smooth the process, including developing and documenting standard procedures, cross-training the critical steps, and considering materiality for estimates.
How organizations can streamline the month-end close
The article discusses the ways sought by companies to streamline processes for month-end closing of books, which can make accountants spend less time collecting numbers, gives opportunity to take corrective action, and resulting to efficiencies and cost savings. It offers practices to smooth the process, including developing and documenting standard procedures, cross-training the critical steps, and considering materiality for estimates.