Australia

Details

  • Service: Advisory, Management Consulting, Financial Management
  • Type: Business and industry issue
  • Date: 1/07/2013

CFO Insights

CFO Insights
This series provides a perspective into financial management, and assists the finance function to create measurable value for their business.

CFO Insights 6: Lea[r]ning the month end close 

There’s no doubt that when a company struggles to close within a reasonable time there can be serious downstream effects that significantly increase risk. If Finance aspires to be a true business partner in the future, they must clearly understand and use tools that improve their disparate reporting processes once and for all.
CFO Insights Issue 6 cover
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In this issue of CFO Insights, we explore the challenges involved in closing the books in a timely manner.

 

Key Insights

  • By first defining the financial report value from the perspective of the stakeholders that actually use it, you can have a solid basis to analyse the activities that go into its development.
  • All waste defined as non-value-added becomes an opportunity for elimination from your month-end processes.
  • However, there is an additional category of waste where the focus is directed toward minimisation.
 

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