Continuous Accounting refers to a state in which the business processes and tasks surrounding Accounting occur seamlessly.
As information becomes available for the record-to-report process, Continuous Accounting enables visibility into controls and other data that affect financial statements.
“Straight-through processing” is the mechanism that enables Continuous Accounting. It addresses the significant issue of data quality and consistency in financial reporting processes by substantially reducing the need for checks or reconciliations that are performed solely to ensure accuracy.
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