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This chapter provides several suggestions for improving the efficiency of the accounts payable function. Payables is one of the most labor‐intensive functions in the accounting department; therefore, reduced effort in the area can have a secondary impact on the speed of the closing process. One of the biggest problems for the accounts payable staff is the continuing delay in receiving approvals of...
This chapter describes a number of manual controls that slow down the closing process, simply because they require more work to be done to ensure that the financial statements have not been misstated. A company's management team needs to determine how many of those controls it can afford to eliminate, balanced against the offsetting risk of creating inaccurate financial statements. It is mandatory...
One can run through a series of easy, virtually free changes in the closing activities to accomplish quick and substantial improvements. This chapter presents the most effective of all those free changes, which is altering the timing of closing activities. A considerable number of activities can be either partially or completely shifted out of the core closing period, either by moving them into the...
Set the date range to filter the displayed results. You can set a starting date, ending date or both. You can enter the dates manually or choose them from the calendar.