Many accounting managers struggle with the annual goal setting process. It can be hard to quantify the work of the folks who do the counting! This is ironic, but pretty common outside of sales teams. It’s not easy to come up...
Flux matters. Analyzing how and why things change over time is a simple concept that yields big dividends. For scientists, fluctuations in weather data can help determine the impact of climate change on wildlife and water sources. For doctors, charting...
London-based Tate & Lyle knows a thing or two about technical innovation. Since the late 1800s, its business has grown around providing everything from sugar substitutes, food sweeteners, and stabilizer systems to starches for paper and adhesives. In that time,...
A suspense account is an account in the general ledger that is used to temporarily store transactions that require further analysis before a permanent assignment in the records can be made. The use of a suspense account allows time to...
A progressive shift is taking place within organizations. As finance automation tools increase efficiencies, improve accuracy, and decrease risk, accountants are unleashed to focus on bigger picture tasks that drive strategic opportunities. This is what the future of accounting looks...
The finance world is changing, and accounting no longer needs to be an endless cycle of late night, end-of-the-month closing tasks. Instead, it can be run on a Continuous Accounting model and led by exceptional accountants. While every accountant has...
If you’re worried about your financial close, you’re not alone. According to the FSN Modern Finance Forum’s recent survey, 97% of CFOs are kept awake at night by the concern that their finance teams will not meet their reporting deadlines....
Recurring journal entries are associated with particular expenses or transactions that are repeated every accounting period. They are typically done to record items like accruals, depreciation, amortization, and allocations. If the accounts involved and the amounts of the entry are...
Balance Sheet Integrity refers to the maintenance and validation of account balances on a company’s balance sheet in their financial statements. During the financial close period, accounting staff is tasked with verifying the accuracy or integrity of all account balances...
Many of today’s CFOs are confused about how to best use modern finance technology, according to a recent report from FSN – The Future of the Finance Function Survey 2017. The report covered more than 800 respondents from 23 industries...
We’re entering a new era of finance transformation, and forward-thinking businesses have strategies that are focused on how to move faster, be more responsive, less manual, and more transparent. But tackling strategy is often futile without reinventing the core first....
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