“A Complex, Lengthy Process, Often Not Well Understood” Starting from business transactions such as the purchase of materials, payment of employees, execution of ﬁnancial transactions and ending with reporting and decision making; including the submission of detailed annual reports, the record to report process (RtR) is a long, complex process that involves people from across … Continue reading Finance Effectiveness – Optimising Record to Report
A 500 Year Old Idea To fully appreciate the Chart of Accounts (CoA) it’s worthwhile to step back 500 years to the invention of double entry book keeping. Double entry is a revolutionary way to record business transactions and track key ﬁnancial information including: Assets and liabilities Proﬁtability i.e. revenue minus expenses over a given … Continue reading Chart of accounts optimisation
Insight is often talked about in Finance, but not always clearly defined. What does it really mean to provide insight and how does this differ from the core role of preparing financial and management reports and accounts? Let’s Start By Defining The Basics: Financial reports & accounts: A balance sheet, profit and loss, cash flow … Continue reading Insight in finance – the light bulb moment!
One of the more forward looking roles in the finance function is the business partner. It's something that is often talked about in articles, but less commonly seen in real life. A good place to start thinking about the business partner is with a clear definition, I think the following is a good summary: Finance … Continue reading The role of the finance business partner