Fast Close: A Guide to Closing the Books Quickly

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John Wiley & Sons, Jun 14, 2005 - Business & Economics - 256 pages
Written for controllers, CFOs, accounting managers, and business managers, Fast Close incorporates Steven Bragg’s own personally tested guidelines to help professionals speed up the closing process, especially in response to Sarbanes-Oxley’s more time-sensitive requirements. Bragg outlines numerous key improvements that, when gradually implemented together, are guaranteed to shrink the closing process down to as little as one day. Chock-full of helpful flowcharts and checklists to help readers prevent delays and bring accounting department closing procedures up to date, Fast Close explores specific instructions for closing faster, common areas of delay and how to overcome them, required controls to keep financials accurate despite the fast close, and much more. Create financial statements faster . . . much faster . . . with the expert guidance found in Steven Bragg’s Fast Close.
 

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Contents

A Guide to Closing the Books Quickly Chapter 1 Introduction
1
A Guide to Closing the Books Quickly Chapter 2 Your Current Closing Process
9
A Guide to Closing the Books Quickly Chapter 3 Conducting a Review of the Closing Process
23
A Guide to Closing the Books Quickly Chapter 4 Alter the Timing of Closing Activities
37
A Guide to Closing the Books Quickly Chapter 5 Revise the Contents of the Financial Statements
57
A Guide to Closing the Books Quickly Chapter 6 Optimize the Use of Journal Entries and Chart of Accounts
63
A Guide to Closing the Books Quickly Chapter 7 Standardization and Centralization
73
A Guide to Closing the Books Quickly Chapter 8 Closing the Inventory Function
83
A Guide to Closing the Books Quickly Chapter 11 Closing the Payables Function
131
A Guide to Closing the Books Quickly Chapter 12 Closing the Cash Processing Function
163
A Guide to Closing the Books Quickly Chapter 13 Impact of Automation on the Closing Process
171
A Guide to Closing the Books Quickly Chapter 14 Ongoing Improvements in the Closing Process
183
A Guide to Closing the Books Quickly Appendix A Comprehensive Closing Checklist
189
A Guide to Closing the Books Quickly Appendix B Fast Close Policies and Procedures
193
A Guide to Closing the Books Quickly Appendix C Soft Close Checklist
205
A Guide to Closing the Books Quickly Appendix D YearEnd Close Checklist
209

A Guide to Closing the Books Quickly Chapter 9 Closing the Billing Function
111
A Guide to Closing the Books Quickly Chapter 10 Closing the Payroll Function
119

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About the author (2005)

STEVEN M. BRAGG, CPA, CMA, CIA, CPIM, has been the Chief Financial Officer or Controller of four companies, as well as a consulting manager at Ernst & Young. He is the author of more than nineteen Wiley titles.

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