Building a finance function from scratch
A group entity without an organised accounting environment.
Context
A group entity without an organised accounting environment.
Scope
Chart of accounts, policies, controls and reporting.
Approach
Full set-up of the finance function.
Outcome
Operating finance function.
Skills applied
Finance function design
How this kind of work is done
- Document current processes and the reports management relies on.
- Design the chart of accounts, approval flows and controls in the new system.
- Migrate opening balances and run both systems in parallel for a period.
- Train users and hand over a monthly close checklist.
What a similar business can take from it
The same approach applies to companies facing a comparable question: start from the decision the numbers must support, make the records reliable, and keep the result simple enough for management to use every month.
Operating finance function.
Facing a similar challenge?
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