Reliable Month End Close
To reach the point of financial reporting, many details must take place throughout and at the end of a month in order to record the financial transactions of the organization. All of these details can be managed most efficiently when processes and procedures are put into place.
Rich Insight Global follows a disciplined month end closing process, which ensures the management reports reflect the true monthly economic results for the company. This process includes working with the CPA or CFO to define revenue recognition policy, along with accruals to record incurred expenses to earn that revenue, and reconciliation and preparation of work papers for every balance sheet account every month. The benefits of this service are financial reports that you can use to make decisions, and work papers to back it up, which also supports your CPA in his or her role.
We ensure the flow of information into an accounting system provides methods and records for:
- Identifying and recording all valid transactions
- Describing the transactions on a timely basis and in enough detail to permit proper classification in the financial statements
- Providing sufficient information to permit recording of transactions in the proper accounting period
We also ensure the quality of the of the information generated:
- Provides the needed information for all users of the system reports to make appropriate decisions related to managing and controlling activities
- Is provided on a timely basis
- Is current and accurate, and
- Is easily accessible by the appropriate persons
By leveraging Team, Technology and Processes, Rich Insight Global provides you with the ability to make strategic business decisions based on numbers they can trust.