Your January close is decided in October
Your January close is decided in October
The financial year ends on 31 December, but the quality of your close is settled long before that. Finance teams that start in January spend the first quarter chasing missing documents, reconciling balances nobody owns and explaining late adjustments to their auditor.
An October checklist does not need to be long. Agree the closing timetable and name the person who signs off each area. Clear the open points from last year's audit so they do not return. Reconcile receivables, payables and intercompany balances now, while counterparties still hold the same records and the same staff. Confirm the accounting treatment of any unusual transaction before the numbers harden. Fix the inventory count date and decide who attends.
BDO Azerbaijan supports finance teams across the full close cycle, from an October readiness review through to the signed audit report. Our audit and business services teams find the gaps while there is still time to fix them. Contact BDO Azerbaijan to arrange a year end readiness review.
An October checklist does not need to be long. Agree the closing timetable and name the person who signs off each area. Clear the open points from last year's audit so they do not return. Reconcile receivables, payables and intercompany balances now, while counterparties still hold the same records and the same staff. Confirm the accounting treatment of any unusual transaction before the numbers harden. Fix the inventory count date and decide who attends.
BDO Azerbaijan supports finance teams across the full close cycle, from an October readiness review through to the signed audit report. Our audit and business services teams find the gaps while there is still time to fix them. Contact BDO Azerbaijan to arrange a year end readiness review.