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ZAGG Internal Audit and Financial Reporting Teams Move Past Excel
Two leaders at ZAGG moved their teams away from paper processes and traditional desktop-based spreadsheets to cloud reporting platforms, transforming how they work. McKay Bates and Eric Greene shared more about it in a recent webinar with FloQast and Workiva.August 17, 2020
- Organizations that invest in optimizing their accounting processes greatly improve the accuracy, timeliness, and visibility of data—the first step to optimizing processes is by documenting them with a process map
- A process map is a step-by-step visual representation of a process that lists the people involved, systems and tools used, interactions, and schedules
- This customizable slide deck can be used to build your own process map that documents how it works and where you can improve
- Preparing income statements and balance sheets is relentless, requiring you to pull crucial data from umpteen different ledgers, as well as multiple offline inputs
- All other reports, presentations, and downstream analysis rely on the monthly income statement and balance sheet, so time is of the essence
- You can simplify your income statements and balance sheets by connecting data directly from your systems to your statements with Workiva
- FP&A organizations and business analysts need to focus on expanding the palette of information available to executives and managers
- Combining operational and financial data enables more useful performance measures and management reporting—but having all the data available is an issue
- Workiva creates the central source of trusted data that finance needs for analysis and reporting, and chains takes the Workiva platform to the next step by automating rote processes for collecting and updating data
- COVID-19 has shifted the priorities of CFOs, who must focus on business continuity
- The shift runs the risk of losing ground on progress toward long-term transformational goals
- Gartner has identified six recommendations for optimizing finance transformation programs already underway
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How to Prepare Statements of Cash Flows (The Right Way)
Preparing accurate, productive cash flow statements is paramount to a business, but the inefficient, rushed process can keep that from happening. See how to use connected data to produce cash flows statements that make a statement.June 26, 2020
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FERC and XBRL: What's in It for Energy Firms
The decision by the Federal Energy Regulatory Commission to adopt the XBRL format as its data reporting standard comes with benefits for energy firms, regulators, and consumers.October 10, 2019
