Fast Close - Hardcover

by Steven M. Bragg (Author)

Praise for Fast Close: A Guide to Closing the Books Quickly

"Steve captures the essence of the problems affecting the financial close process within corporations of all sizes; from the period close of subledgers and general ledger through financial reporting, and the relationship and interdependencies of governance, people and technology. A must-read for the corporate controller."
--David Taylor, ACMA, MBA, VP Strategy, Trintech Inc.

"Fast Close: A Guide to Closing the Books Quickly, Second Edition is a must-read for today's busy controllers. Steven Bragg points out everything that can be done outside the close that you just never realized didn't actually have to be part of the month-end close process Very commonsensical approach "
--Kathleen Schneibel, mba, cpa, Controller/CFO for Hire, KMAS Consulting LLC

"A well-executed 'fast close' can bring many valuable benefits to any company, from improving organizational performance to transforming accounting executives from financial historians to trusted advisors. In Fast Close, Second Edition, Steve systematically breaks down the steps required to achieve a fast close in both public and private companies, providing financial executives with tips, checklists, and a cost-effective road map to implement fast close procedures in virtually any company."
--Matthew Posta, Esq., CPA, Vice President of Finance, Key Air, LLC

FROM THE FIRST EDITION

"This is an outstanding book in which Steve reveals his secrets to a fast close. Having personally experienced his (one-day) fast close for years and enjoyed the beneficial impact on my company, I highly recommend this book for all financial officers who desire to have a large, favorable impact on their company."
--Richard V. Souders, President and CEO, Kaba Workforce Solutions

Front Jacket

Closing the month-end books followed by the issuing of financial statements as fast as possible is one of the most common--and time-consuming--challenges controllers face. Depending on the company, the process can take anywhere from four days to as long as five weeks. Finally, help is here! Now fully revised and updated, Fast Close: A Guide to Closing the Books Quickly, Second Edition shrinks the closing interval down to just one day.

The new edition of this hands-on guide presents the successful, field-tested principles of accounting guru Steven Bragg--using the same techniques he has personally used for years to issue financial statements for multidivisional companies.

Filled with flowcharts and checklists to help professionals avoid delays and bring accounting department closing procedures up to date, Fast Close, Second Edition straightforwardly illustrates how companies can close their financials quickly enough to issue statements within Sarbanes-Oxley's rigid time frame.

The new edition features new coverage of:

• Closing Controls and Closing for the Public Company, with a new chapter for each

• How to close faster, with checklists

• Common areas of delay and how to overcome them

• Flowcharts for how to route closing tasks through the accounting department

• How to handle information roll-ups from subsidiaries

• Those closing steps that can wait and those that need to be accelerated into the pre-closing period

Offering a compelling case for ending slavery to the month-long closing process, this invaluable resource shows accountants how to get it done efficiently, with authoritative discussion of shifting the timing of closing activities out of the core closing period; reducing the contents of the financial statements; standardizing the chart of accounts; centralizing accounting functions; streamlining the commission calculation process; and much more.

Back Jacket

Praise for Fast Close: A Guide to Closing the Books Quickly

"Steve captures the essence of the problems affecting the financial close process within corporations of all sizes; from the period close of subledgers and general ledger through financial reporting, and the relationship and interdependencies of governance, people and technology. A must-read for the corporate controller."
--David Taylor, ACMA, MBA, VP Strategy, Trintech Inc.

"Fast Close: A Guide to Closing the Books Quickly, Second Edition is a must-read for today's busy controllers. Steven Bragg points out everything that can be done outside the close that you just never realized didn't actually have to be part of the month-end close process! Very commonsensical approach!"
--Kathleen Schneibel, mba, cpa, Controller/CFO for Hire, KMAS Consulting LLC

"A well-executed 'fast close' can bring many valuable benefits to any company, from improving organizational performance to transforming accounting executives from financial historians to trusted advisors. In Fast Close, Second Edition, Steve systematically breaks down the steps required to achieve a fast close in both public and private companies, providing financial executives with tips, checklists, and a cost-effective road map to implement fast close procedures in virtually any company."
--Matthew Posta, Esq., CPA, Vice President of Finance, Key Air, LLC

FROM THE FIRST EDITION

"This is an outstanding book in which Steve reveals his secrets to a fast close. Having personally experienced his (one-day) fast close for years and enjoyed the beneficial impact on my company, I highly recommend this book for all financial officers who desire to have a large, favorable impact on their company."
--Richard V. Souders, President and CEO, Kaba Workforce Solutions

Author Biography

STEVEN M. BRAGG, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young and auditor at Deloitte & Touche. He received a master's degree in finance from Bentley College, an MBA from Babson College, and a bachelor's degree in economics from the University of Maine. He has been the two-time president of the Colorado Mountain Club, is an avid alpine skier and mountain biker, and is a certified master diver. Mr. Bragg resides in Centennial, Colorado. He is also the author of Accounting Best Practices and Accounting Policies and Procedures Manual, both published by Wiley.