Fast Close Guide

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Reduce Risk and Maximize Efficiency in the Financial Close Cycle

This tool includes two guides that outline leading close practices and key indicators of improvement opportunities common to the close process.

Leading close practices include enabling the process with leading technology, simplifying and standardizing the chart of accounts, focusing on the entire close-to-report process and focusing on the process first, understanding upstream data quality effects on downstream closing efficiency and effectiveness, identifying and empowering process owners, utilizing a standard close schedule and checklist, shifting tasks away from period-end, and managing the close process daily and identifying opportunities for improvement each month.

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