Introduction BlackLine Account Reconciliations is one of the most popular solutions utilized by major corporations across the world that automates and standardizes the general ledger reconciliation process.  Some of the benefits of this type of solution include automated review and approval workflows, with proper segregation of duties; reconciliation templates and checklists to standardize processes; integrated […]

Introduction Being able to effectively evaluate the reconciliation frequency for balance sheet accounts can involve the review of a variety of factors, both quantitative and qualitative.  While the ultimate objective of balancing effective controls with process efficiency is the same for all companies, the level of effort and overall approach to designing the appropriate schedule […]

Introduction Applying advanced technology solutions to overly complicated and non-standard processes makes implementation more difficult, reduces the benefit, and complicates process improvement efforts by requiring modifications that require carefully coordinated changes in procedures and technology.  While there is almost always more that can be improved upon, having a base level of stability and standardization, with […]

Introduction Lean Six Sigma (LSS) is a methodology utilizing a set of strategies & data-driven tools to improve processes in terms of cost, quality & time. Lean is a systematic method for the elimination of waste, while Six Sigma is a set of tools & techniques for process improvement, mainly focused on reducing variation & […]

Introduction General Accounting (GA) can be a great entry point and stepping stone into any number of roles within Finance and the company as a whole.  The challenge for companies is ensuring that the proper experience, training, and mentoring occurs within their Accounting teams so when opportunity calls, their people are the first considered and […]

Introduction For manufacturing companies with large production facilities, many with more than $100 million USD in active asset valuation, making the decision on how to best complete the work steps in the end-to-end Fixed Asset property process becomes complicated.  While there are benefits to centralizing or performing work activities in Shared Services, there may be […]

When dealing with fixed assets, the two keys to ensuring proper internal controls in this area are having an accurate fixed asset master file and being able to determine the location of the asset itself.  To accomplish this verification and reconciliation, the use of fixed asset tags is a critical success factor, along with a […]

For companies with operations around the world, using a structure that includes a large number of legal entities, the process of properly booking transactions for activities that occur between entities can be a daunting task.  Having one Shared Services organization using either a global or regional delivery model, where processes can be standardized, can make […]

Record-to-Report (R2R) can cover a wide range of internally-focused accounting processes connected with the recording of transactions to comply with financial, legal, and tax requirements, with outputs including performance reporting, plus management, legal, tax, and treasury reporting.  Unlike other common end-to-end processes including Purchase-to-Pay, Hire-to-Retire, and Order-to-Cash, the associated work processes are insular to the […]