Rethink Year-End as an Opportunity for Improvement

Your focus at year-end is on financial preparation to support audit and tax requirements.  This year, if you expand your vision to identify areas of process improvement, you will be surprised by the items you identify.   You have coordinated with your CPA and planned for year-end audit and tax preparation.  They have provided their requirements and theirContinue reading “Rethink Year-End as an Opportunity for Improvement”

Project (Business) Management Methodology – RETHINK Internal Tasks

Consider the impact on your organization, positive or negative of prior internal projects.  Have you invested in improved employee benefits? A new 401k plan or revised health care plans, only then to find your employees do not share your level of appreciation for the new benefits?  Have you invested in a new ERP system thatContinue reading “Project (Business) Management Methodology – RETHINK Internal Tasks”

The 2 Day Close, Phase 8 – Continual Improvement

This article, Continual Improvement, is the final phase of the process improvement project I began outlining in May.  This phase represents a time to review the progress your staff has made and plan for additional improvements. You have begun the transition to create a mindset of continual improvement in accounting. Take a step back andContinue reading “The 2 Day Close, Phase 8 – Continual Improvement”

The 2 Day Close, Phase 7 – Audit Preparation

As a government contractor, your company may be subject to both financial statement audits and DCAA audits.  In this article, I discuss preparing for an audit throughout the year to reduce audit stress, refocus staff on analysis and identify areas of improvement. If you have followed the phases outlined in my last six articles, youContinue reading “The 2 Day Close, Phase 7 – Audit Preparation”

The 2 Day Close, Phase 6 – Data Integration

The true power of the cloud is delivering enterprise software as a service (SaaS) in manageable and affordable components to companies of all sizes.  Companies have the opportunity to select specialized software tools from multiple vendors to create a solution that best fits their needs. As the business grows and changes, software services can beContinue reading “The 2 Day Close, Phase 6 – Data Integration”

The 2 Day Close, Phase 5 – Continually Monitoring Data

Achieving a 2 day month end closing requires a paradigm shift in traditional accounting processes.  A shift in process and approach not only within the accounting department, but throughout your organization. In this post I outline how to introduce, implement and manage this shift in your organization.   A traditional accounting department spends a largeContinue reading “The 2 Day Close, Phase 5 – Continually Monitoring Data”

The 2 Day Close, Phase 4 – Simple Changes

In this posting I outline a few changes that every organization should consider to simplify accounting processes, improve accuracy and timelines of their financial information. Changing any process is never simple; however, the decision to make these changes are straight forward.   Logical & Standard Chart of Accounts (COA) The value of timely and accurateContinue reading “The 2 Day Close, Phase 4 – Simple Changes”

The 2 Day Close, Phase 3 – Initial Process Review

You are ready to meet with your accounting staff to launch a process improvement project. How will you recognize areas for improvement and how will you over come push back from staff, especially if you are not an accountant? This post will cover those questions as well as developing your project plan and creating processContinue reading “The 2 Day Close, Phase 3 – Initial Process Review”

The 2 Day Close, Phase 1 – Defining Your Approach to Closing

In my last post, Closing Your Books Faster and Maximizing the ROI on Your ERP Investment,  I outlined an 8 phase approach to create a culture in accounting to accelerate month end closing and recognize a greater ROI.  This article, Defining Your Approach to Closing will help you develop your expectations and goals, and helpContinue reading “The 2 Day Close, Phase 1 – Defining Your Approach to Closing”

The 2 Day Close for Government Contractors

Why can some companies close their books faster than others?  Why do some ERP implementations deliver a much higher ROI than others? In short, these companies have changed the mind set in accounting to continually strive for process improvements as part of their daily operations.  Insufficient staff size, lack of proper training and project planningContinue reading “The 2 Day Close for Government Contractors”