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Establish Reporting Rules within the Finance Team
Catch All Adjustments in an “Overs and Unders” Schedule
Avoid a Huge Wave of Accounts Payable Invoices at Month-End
Early Closing of the Accounts Payable Ledger
Close Accruals before the Accounts Payable Cutoff
Avoid Inter company Adjustments
Early Closing-Off of Accounts Receivable
Early Capital Expenditure Cutoff
Early Inventory […]
Accountants need to be great communicators to fulfil their role successfully. Gone are the days when reports could simply be drafted without consideration of the reader’s needs. Reports should focus on how to best get the message across. What are the salient points? Where can this report add value to the readers understanding? And how […]
Steps to Get The Finance Team Future-Ready
Get your next month-end reporting to three working days or less
I have a method that has helped hundreds of organizations get to reporting within three days. It really comes down to common sense, which, unfortunately, is not that common. There are a number of practices you should adopt […]
Tips for a fast close at month-end
David Parmenter explains how you can delight the Chief Executive by completing your month-end reporting process inside three working days.
Embracing Peter Drucker’s abandonment mantra
Abandonment is the key to a lean month-end. The act of abandonment gives a tremendous sense of relief to a team for it stops the past […]
I have been writing about performance measures for more than 20 years. In all that time, I have only witnessed minimal advances in the way companies go about using them. All too often, the assessment of measures are treated as an afterthought.They are regarded as a box-filling exercise to demonstrate that we have achieved a […]
The annual planning process and the long, drawn-out annual reporting cycle are both perfect examples of catch-22s. To break out of them, finance teams need to attack the onerous processes that are hangovers from the past and that they have mistakenly stuck with. Read More
The average cost of a whole purchasing cycle is estimated at £30 to £40 per transaction. This cost is horrific when you realise that a high portion of your transactions are for minor amounts. The diagram to the right shows a typical profile of accounts payable(AP) invoices. Read More
The accounts payable team is one of the most important in the accounting function. However, many AP teams are stuck in the dark ages, which means: monthly accounts cannot be prepared promptly, as AP is buried under a tsunami of invoices, budget holders are unnecessarily tied up in authorising and approving all transactions– no matter […]
The one sure thing about annual planning is that it will be wrong – its underlying assumptions have been flawed since LucaPacioli invented double entry bookkeeping in 1494.This article completes my look at the foundation stones of rolling planning, a more useful alternative.
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For an in depth analysis purchase david’s whitepaper.
Very few organizations really monitor their true Key Performance Indicators(KPIs), because very few have explored what a KPI actually is, says performance consultant David Parmenter.
The myths around KPIs
The dark side of KPIs
Switch on your indicator
For more details please click here
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