The twenty major mistakes corporate accountants make every year – Toolkit (Whitepaper + e-templates)

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The twenty major mistakes corporate accountants make every year – Toolkit (Whitepaper + e-templates)

USD $199.00 USD $159.00

Continue to commit these mistakes at your peril. Purchase this paper to identify what these mistakes are, why they are made and the practical steps to rectify them. Transform your finance team, team morale and your career. A comprehensive tool-kit is provided electronically to help you move forward tomorrow.

Please click here to look inside the white paper.

Product Description

Corporate accountants around the world have been making the same mistakes, year-in year-out. Why is it that we spend months on an annual planning process that we know is flawed? Why is it we spend many days preparing a monthly report that is informing management well and truly “after the horse has bolted”? Why do we produce a 30+ page finance report for the senior management team? Why do we budget at account code level?

With the economic downturn corporate accountants need to find more time to help their businesses in a more proactive way. This toolkit will enlighten and encourage controllers, CFOs, management and financial accountants to avoid these major mistakes.

This whitepaper is updated at the time of purchase by David Parmenter ensuring that it contains his latest thinking. The whitepaper is printed at the time of purchase to ensure it has David’s latest thinking and air-mailed to the reader. The e-templates are emailed.

Please click here to look inside the white paper.

Why you need this toolkit

Too many accountants fail to leave any legacy systems when they move on.  They are simply good processors, performing each month-end as slow as the one before, overseeing a long and tedious annual planning process, and producing reports that are seldom read.

Joseph Heller’s iconic 1961 book introduced a new phase into our language “Catch 22” which the Oxford English Dictionary defined as:

A situation in which a desired outcome or solution is impossible to attain because of a set of inherently illogical rules or conditions”

I see many finance teams in this situation. The late monthly accounts, the long, drawn-out annual planning process and annual reporting cycle leave no time to break this cycle – a perfect Catch 22.

The finance team needs to create time for change, to have more time to implement. Where do we find this time? We find it by adopting the lean processes used by our peers.

Through benchmarking and then delivering courses to finance teams I have discovered many better practices, from corporate accountants across the world.  This paper covers the top twenty practices that our clever peers have adopted. These top twenty practices are set out by subject matter rather than their importance.

Why you need this toolkit

Too many accountants fail to leave any legacy systems when they move on.  They are simply good processors, performing each month-end as slow as the one before, overseeing a long and tedious annual planning process, and producing reports that are seldom read.

Joseph Heller’s iconic 1961 book introduced a new phase into our language “Catch 22” which the Oxford English Dictionary defined as:

A situation in which a desired outcome or solution is impossible to attain because of a set of inherently illogical rules or conditions”

I see many finance teams in this situation. The late monthly accounts, the long, drawn-out annual planning process and annual reporting cycle leave no time to break this cycle – a perfect Catch 22.

The finance team needs to create time for change, to have more time to implement. Where do we find this time? We find it by adopting the lean processes used by our peers.

Through benchmarking and then delivering courses to finance teams I have discovered many better practices, from corporate accountants across the world.  This paper covers the top twenty practices that our clever peers have adopted. These top twenty practices are set out by subject matter rather than their importance

This whitepaper will answer the following questions:

  1. How many account codes should we aim for?
  2. How frequently and how far out should we forecast?
  3. When should we set monthly budgets?
  4. What frequency should we fund budget holders?
  5. At what level should we budget at?
  6. How quick should an annual budgeting process be?
  7. What are the key features of an effective report?
  8. What KPIs should we use?
  9. How do you get change to work?

The toolkit will cover how to avoid the mistakes which include:

  1. Having over 80 account codes for the P/L
  2. Only forecasting to year-end
  3. Breaking down the annual plan into twelve before the year starts
  4. Giving budget holders an annual entitlement
  5. Budgeting at account code level
  6. Taking months doing an annual plan –instead of 10 working days!
  7. Producing numbing monthly financial reports
  8. Reporting on the wrong performance measures
  9. Not producing daily/ weekly decision based reports
  10. Selling change by logic
  11. Allowing month-end reporting to go past three working days
  12. Using Julius Caesar’s calendar as a reporting tool
  13. Spending months on the annual accounts
  14. Investing in a complex G/L and upgrading unnecessarily
  15. Letting Excel dominate the finance system
  16. Working hard but not smart
  17. Not investing enough in Accounts Payable
  18. Not adopting the purchase card – a free AP system
  19. Not investing effort and time into leadership
  20. Not celebrating enough

Thank you for your interest in the intellectual property I have developed. I will send you the electronic media you have purchased as soon as I have received confirmation from PayPal.