Fast Close: A Guide to Closing the Books Quickly

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John Wiley & Sons, Mar 16, 2009 - Business & Economics - 272 pages
Praise for Fast Close: A Guide to Closing the Books Quickly

"Steve captures the essence of the problems affecting the financial close process within corporations of all sizes; from the period close of subledgers and general ledger through financial reporting, and the relationship and interdependencies of governance, people and technology. A must-read for the corporate controller."
—David Taylor, ACMA, MBA, VP Strategy, Trintech Inc.

"Fast Close: A Guide to Closing the Books Quickly, Second Edition is a must-read for today's busy controllers. Steven Bragg points out everything that can be done outside the close that you just never realized didn't actually have to be part of the month-end close process! Very commonsensical approach!"
—Kathleen Schneibel, mba, cpa, Controller/CFO for Hire, KMAS Consulting LLC

"A well-executed 'fast close' can bring many valuable benefits to any company, from improving organizational performance to transforming accounting executives from financial historians to trusted advisors. In Fast Close, Second Edition, Steve systematically breaks down the steps required to achieve a fast close in both public and private companies, providing financial executives with tips, checklists, and a cost-effective road map to implement fast close procedures in virtually any company."
—Matthew Posta, Esq., CPA, Vice President of Finance, Key Air, LLC


"This is an outstanding book in which Steve reveals his secrets to a fast close. Having personally experienced his (one-day) fast close for years and enjoyed the beneficial impact on my company, I highly recommend this book for all financial officers who desire to have a large, favorable impact on their company."
—Richard V. Souders, President and CEO, Kaba Workforce Solutions


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Your Current Closing Process
Conducting a Review of the Closing Process
Alter the Timing of Closing Activities
Revise the Contents of the Financial Statements
Standardization and Centralization
Closing the Inventory Function
Closing the Billing Function
Closing the Payroll Function
Closing the Cash Processing Function
Impact of Automation on the Closing Process
Closing the Books of a Public Company
Controls for Financial Reporting
Ongoing Improvements in the Closing Process
Appendix B Fast Close Policies and Procedures
Soft Close Checklist

Closing the Payables Function

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About the author (2009)

STEVEN M. BRAGG, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young and auditor at Deloitte & Touche. He received a master's degree in finance from Bentley College, an MBA from Babson College, and a bachelor's degree in economics from the University of Maine. He has been the two-time president of the Colorado Mountain Club, is an avid alpine skier and mountain biker, and is a certified master diver. Mr. Bragg resides in Centennial, Colorado. He is also the author of Accounting Best Practices and Accounting Policies and Procedures Manual, both published by Wiley.

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