Happily Ever After – Achieving a Fairy Tale Month-End Close (CFO University)

Core Guiding Principles for the Month-End Close

What Should the Close Process Be Like?

A strong month-end close differs for each accounting team. However, the following central themes are shared among teams that close the books confidently and consistently, month after month:

Accuracy. There are rarely material errors once the books are finalized.

Predictability. The universe of month-end activities around the close is well-understood. When one activity is delayed, the implications downstream are clear.

Anticipatory. Issues and exceptions are flagged proactively so that they do not become “fire drills” and delay the close.

Flexibility. Cross-training and ruthless standardization makes it easy to back each other up and reallocate workload during the close.