Unlocking strategic value by strengthening core finance operations​

This event will discuss key challenges in the record to report process and share strategies to drive better outcomes.​

The record to report (R2R) process is essential for accurate financial reporting and decision-making. In today’s environment of heightened financial reporting scrutiny, the R2R process presents challenges such as data accuracy, process efficiency and compliance. Our R2R excellence series addresses these issues, equipping you with the tools and knowledge to transform your R2R process and achieve better outcomes.  ​
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Session 2: Unlocking strategic value by strengthening core finance operations​
In our first session, we discussed the complexities of balance sheet account reconciliation and intercompany reconciliation, highlighting the impact of manual processes and cross-team dependencies.​
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The second session of our series explores key challenges in the R2R process and shares strategies to drive better outcomes. It focuses on two critical areas:​

• Journals: Journals play a fundamental role in ensuring accurate financial reporting. However, challenges such as manual entry errors, inconsistent approval workflows and inadequate audit trails can lead to misstatements, compliance risks and delays in the financial close, ultimately compromising the reliability of financial statements.​
• Open item clearing: This process is essential for maintaining accurate account balances by matching and settling transactions. Delays in clearing, unresolved root causes and inefficient reconciliation practices can result in aged items, distorted financial data and slower close cycles, impacting financial transparency and audit readiness. ​

Event highlights​

• Data analytics enablers: Learn how data analytics can be applied to journal entries for better insights and control.​
• Governance and automation: Discover tools and practices to streamline workflows and reduce errors.​
• Practical challenges and impact: Understand how some of the challenges highlighted above affect month-end close and reporting accuracy.​
• Phased approach to improvement: Explore how we can tackle these challenges in a structured and step-by-step manner.​
• Case studies: Learn how leading organizations have transformed their journals and open item clearing processes and the outcomes they have achieved.​

This event is now over. For enquiries, please contact the organizer.

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