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Ensuring Orderly Period-End Closing Procedures

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
For the purposes of maintaining control over internal accounts and safeguarding long-term accounting consistency, it is integral to create efficient period-end closing procedures. Though these systems can be complex, a well-planned set of internal controls can make the period-end close process more manageable as well as ensure a desirable outcome.

This article looks at best practices that characterize efficient and successful period-end closing processes. Included are discussions of a company’s capacity and means of open communication; the characteristics of a clear and thoroughly organized plan of action for period-end closings; and other essential internal controls.

It can often be difficult to coordinate period-end closing processes internally. Los Angeles CEOs and CFOs may find it useful to consult with an outsourced CFO services provider who can keep employees well-informed and coordinate period-end closing processes for minimal conflict.

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