How much time is your team wasting on month-end reporting?

Is your team one of the many who are sucked in by processes that have more in common with the Charles Dicken’s era that the 21st century?

When I was a corporate accountant each period end was a disaster waiting to happen. Each month-end had a life of its own. You never knew when and where the problems were to come from. Always two or three days away we appeared to have it under control, and yet, each month we were faxing (email was not on the scene then) the result, with our fingers crossed. The last minute adjustments having negated “quality assurance” work we performed earlier leaving the result exposed to a late error.

Does this sound familiar? If so, read this free article for more information on how to change this.

There are multiple ways that David Parmenter can help.

  1. Read my whitepaper on "How to Implement Quick Month-end Reporting"
  2. Read Pareto's 80/20 for Corporate Accounts
  3. Attend one of my workshops — you also get a free copy of my white paper.
  4. Listen to my free webcasts on bettermanagement.com
  5. Subscribe to my personal website for my latest articles

What you can gain from reading David's white paper

White Paper Cover Image
  • Access to electronic versions of all templates
  • Complete your month-end by three working days
  • Identify the appropriate better practices to speed up month-end routines
  • A step-by-step implementation work programme
  • An ability to run an in-house workshop to “post-it” re-engineer month-end processes

Organisations around the world are spending far too much time on month-end reporting where the real decision based reports are those issued daily and weekly. In other words telling management the horse has bolted after month-end is too late. David Parmenter has presented this white paper successfully to audiences in Australia, Ireland, England and New Zealand to over 2,000 attendees. It has had a profound impact across all sectors.

If your month-end is slow this is a must read white paper. David states he has yet to find an organisation that cannot get down to day 3 reporting if they apply his methodology developed from the better practices of hundreds of fast reporting organisations. David will explain that month-end reporting by day one is being achieved by some leading organisations around the world. While day one reporting may not be a goal you wish to achieve, day three reporting may well be. Reading this paper will provide an impetus to shorten your month-end reporting process.

This white paper covers

  • Review case studies on quick month-end reporting (day one and virtual closing)
  • Practical steps to overcome the common bottlenecks of:
    • Accounts Payable close-off
    • Accruals
    • Budget holders’ variance analysis and commentary
    • Journals
    • Downloading GL reports to Excel
    • inter-company
    • writing the summary commentary etc.
  • How to “post-it” re-engineer your month-end processes
  • How to take the “Charles Dickens” processes out of Accounts payable, one of the main barriers to quick reporting
  • The connection to decision based reporting and quarterly rolling forecasts

To purchase this whitepaper (and others) please email me at parmenter@waymark.co.nz

Table of Contents from "How to Implement Quick Month-end Reporting"

  1. Introduction
  2. What is day one reporting?
  3. Benefits to management and the finance team
  4. The impact of quick reporting on the finance team and the organisation
  5. History of day one reporting
  6. Case study 1: Johnson & Johnson vision products USA
  7. Case study 2: a distributor and seller of alcoholic beverages
  8. Case study 3: Motorola 12 non events a year
  9. DOR in Australia based on a 1999 CPA study
  10. The common bottlenecks in month end reporting and techniques to get around them
  11. Letting go of report writing
  12. Producing more useful information during the month
  13. Closing accruals on Day 2
  14. Implementing a DOR strategy
  15. Suggested implementation plan
  16. Day one workshop
  17. Linkages to other leading management models
  18. Quarterly Rolling Forecasting
  19. Decision Based Reporting
  20. Reporting Key Performance Indicators
  21. Last words
  22. Appendix 1: Checklist of implementation steps to reduce month-end reporting timeframes

Testimonials

Blenheim Palace Celebrates Another Victory

Blehnheim Palace Logo

Built to honour the Duke of Marlborough’s victory over the French, this fine stately home is one of the treasures of England.

The Finance team, after attending David’s course have managed a sweet victory of their own.

Following our attendance at your inspiring two days of presentations we went away convinced we could achieve our month end reporting in less than 3 days.

We told our team on Monday 28 April and closed the ledgers on Wednesday 30th, quite a tight deadline for the team but they rose to the challenge and succeeded!

Management accounts were finalised on Friday 2nd with the CEO reports being completed the same day. We feel very proud to have produced accurate accounts in this time frame and it really has inspired and motivated us to make many of the improvements you have suggested. We look forward to improving our processes and making further efficiencies within our Finance team.

Many thanks for your inspiration, we now have the library of all your books so I am sure there are more new challenges ahead for us.

Anita Donaldson, Head of Finance, Blenheim Palace

More Testimonials on all of David's work are available here.

How to buy

This cutting-edge white paper is available for purchase at $250 NZD each. This white paper has over $100,000 of consultancy time invested, and evolved through interaction with over 5,000 workshop attendees, working in management since early 1980 and meeting with influential thought leaders. This paper is not a regurgitation of other writer's work.

This white paper include templates, checklists, workshop agendas, etc to help you implement the changes required. The white paper is sent in hardcopy and the templates included in the paper are made available electronically at the time of purchase.

Please deposit the money using the account information below and email me (parmenter@waymark.co.nz) confirming you have done this, along with your postal address. Once the payment has been received, I will email you the protected files.

Account Name: Waymark Solutions
Bank: ASB bank, Lambton Quay Branch, Wellington, New Zealand
Account Number: 12-3140-0203946-050
Reference field: Company Name and product wanted

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