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Seven steps to success

Article Abstract:

The process of consolidating, analyzing and reporting financial information has always been troublesome because these are the weak areas of traditional accounting systems. A single software that meets all reporting requirements has yet to be introduced in the market. To minimize their disappointment in available consolidation systems, financial departments are advised to select those that offer control, usability, connectivity, data integrity and ability to generate meaningful results. They should also avoid making assumptions that the group reporting meets local reporting requirements, that the consolidation system will be used only to produce reports, that this system collects the same information as traditional reporting systems, that it is easy to use and that the data stored is safe. Finance departments should likewise avoid implementing a separate budgeting system and viewing audit trails as optional.

Prepackaged software, Software Publishers, Financial, Acctg Software Pkgs (Micro), Evaluation, Software, Financial software, Accounting, Corporation reports, Company reports, Accounting software, Consolidated financial statements

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Leaders of the pack

Article Abstract:

Accountants represent the largest single professional group in the boardrooms of the 100 FTSE companies. A survey in the United Kingdom suggests that the accountant chief executives did not possess the all-round business skills that are required to be in charge of the large organization.

United Kingdom, Forecasts, trends, outlooks, Forecasts and trends, Surveys, Market trend/market analysis, Accountants, Executive ability, Professional development

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