Close-the-Books Policy

Subscriber Content
Screenshot of the first page of Close-the-Books Policy

The purpose of this policy is to establish procedures for providing timely information regarding a company’s reporting requirements.

According to this policy, corporate accounting is responsible for publishing a closing calendar for each monthly accounting period that is distributed to all accounting personnel and each department involved in the monthly closing process, publishing a listing of required reconciliations and account analysis that must be prepared and submitted by accounting personnel for review by the corporate controller or financial reporting manager, and reviewing financial statement balances to ensure that balances are recorded in accordance with generally accepted accounting principles (GAAPs).

Free Trial

Sign up for a free, no-obligation trial to start exploring our timesaving, valuable resources.