Everybody in Finance has probably the same mixed feelings about Year End. On the one hand we love it: spending quality time with family & friends, enjoying the Christmas vibes, taking some well-deserved time off after a long and very intense year. On the other hand we know already there will be very challenging times at the office... So many tasks to be performed to ensure a smooth Year End Closing – with, unfortunately, limited time & resources to do so.
Today we could(are?) already worry(ing) on what is in front of us.
- Receiving the correct info from our internal stakeholders in due time
- Preparing -and resource allocating the Closing Schedule
- Checking & validating current accruals/balances
- Ensuring compliant stating of the books
- Preparing for external audit
- Forecasting on final results !
- Ensuring IT supports during Year End
- And more…
Additionally we will probably be challenged with less available resources in our company. Employees are taking their well-deserved vacations to enjoy the time with their families.
So what could help?
First of all, being part of yearly Closings for +20 years, we can strongly suggest good preparation and follow up.
1. Good preparation is half the work done
As from today you could start making a list on the planned tasks to be finalized by Year End. Allocation of resources with proper owners & deadlines could be the following step. Finally, weekly meetings with the owners to follow-up on the progress. These meetings would allow you to adjust and react if necessary. However, having done that, you could still be challenged with reduced resources/capacity. Pulling in experienced, flexible and effective support might make the difference towards a succesful Year End Closing or not.
2. Specialized Interim Managers
What are the benefits using temporary Finance Interim Managers?
- Increased Expertise, Productivity & Capacity
- Increased Flexibility
- Supplement to existing employees (on vacation)
- Maximised/optimized Project efficiency
- Specialized talents raise the bar
- No long term financial commitment
Wishing you a smooth Year End Close, with a good personal/professional balance this year !
Feel free to contact us if we could be of any help.
FINANCEbuilders is part of the VALUEbuilders Group and is a passionate, visionary Finance Interim Management company. We are committed to connecting great Finance people to the most challenging & fun assignments, whenever you need them. #TheFutureOfWork
Today we have a diverse set of Finance Professionals available, going from CFO's to Finance Managers, Senior Accountants and Controllers.