Account Reconciliation and Closing

The demands on group accounting as a supplier of financial data have increased steadily in recent years. Consolidated financial statements are not only required by law, but also support management for group-relevant decisions.

Nowadays, companies, regardless of size and industry, are operating in an increasingly dynamic environment. Keeping pace with a fast-moving business environment means that consolidated financial data must be available in a timely manner at group level in order to derive decisions and necessary adjustments. Timely but also high-quality financial data is becoming a competitive factor in a world with an increasing number of transactions, data and information needs. This requires an efficient group accounting process.

This study explores the following questions

• – What are the current practices around account reconciliation and the closing process?
• – To what extent and with which IT solutions are consolidated financial statements prepared?
• – What are the possibilities to improve consolidated statements?

Sample and related content

The study is based on an online survey of 110 companies in the DACH region.

• – Click here to see the infographic based on the survey findings
• – The full study can be downloaded here

The report is sponsored by: