International Accounting

The client was spun off from a larger conglomerate in 2001. They design, manufacture, and sell a full line of consumer and industrial products through a worldwide organization.

The objective was to manage international accounting with a very small head office finance department.

We created a two-step, multi-tier workflow system for international accounting where approximately 45 companies located around the world posted accounting results into 5 regional centres for vetting, inter-company eliminations, and roll-up before being delivered to head office.

Step one—Flash—provided a management summary and detailed summary reports indicating overall activity, revenue, collections and key performance data within 3 days of month-end. Step two provided fully consolidated international results within 7 days of close, and completed sign-off in less than two weeks. Before this, full consolidation took months.

All of this was accomplished with a head office finance group of only 3 people, including the VP Finance.

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