Posts Categorized: Record to Report

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April 16, 2019
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Innovation within the Downstream Oil and Gas Industry

Since 2007, there has been an almost 5% decrease in primary energy consumption globally. And historically, downstream oil and gas organizations­ – the most common of which are your typical convenience stores (C-store) – have relied heavily on energy consumption as a large part of their revenue. However, in recent years, many downstream companies have...

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April 8, 2019
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Reconciliations: Part of a Global System of Controls to Ensure the Integrity of Your Financial Close

There are no compromises in producing reliable financial statements, and balance sheet reconciliations is one of the most important internal controls over financial reporting that can’t be under-appreciated. Read this blog to find out how a System of Controls can ensure the integrity of your financial close.

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March 28, 2019
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NAUPA 3 Reporting Updates—How to Prepare Your Process

It has been nearly two decades since the last update of the National Association of Unclaimed Property Administrators (NAUPA) electronic reporting standard. As the NAUPA reporting standard reaches across national borders, more than a few companies will struggle to adapt their escheatment process to this innovation. Our blog covers three steps the office of finance...

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March 26, 2019
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How to Create a Risk-Based Reconciliation Policy in 4 Steps

As organisations look to reduce the cost of their finance and accounting teams, it is essential for them to find the balance between reducing workloads while still maintaining control of the balance sheet reconciliation process. For this reason, firms are increasingly looking to implement global, risk-based reconciliation policies. By taking a risk-based approach to reconciliations,...

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March 7, 2019
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3 Looming Developments in the Midstream Oil and Gas Industry

In recent years the historical risk factors that have impacted the midstream oil and gas sector – e.g., commodity price volatility, geopolitics, increased competitive intensity, etc.— have grown exponentially more complex. While once tethered to physical supply and demand, the price of crude oil is now tied closer to macroeconomic influences that make turning a...

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February 26, 2019
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How Cost-Cutting Strategies within the Upstream Oil and Gas Industry Can Spell Disaster for their Office of Finance

The upstream oil and gas industry has always held a certain level uncertainty within its revenue stream. Like early wildcatters[1] drilling exploratory oil wells in the hopes of striking it rich, today’s upstream industry can often struggle to remain profitable in the face of issues beyond their control. Issues such as: Advances in non-fossil fuel...

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February 21, 2019
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Content We Love — The Changing Role of the CFO

For the past ten years, the role of the CFO — in addition to their accounting team’s function — has rapidly evolved. The CFO is no longer regarded as simply a number cruncher but is now required to step into the role of financial strategist, and an interesting EY study, The Changing Role of the...

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February 11, 2019
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Content We Love — Why Upgraded Tech Is Your Team’s Best Path to Productivity

Outdated financial processes significantly slow down productivity. Learn about the best method to boosting your employee productivity and how you can apply it to your company.

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September 6, 2018
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Best Practices of Established Shared Service Centers

Here you’ll find a brief summary of the trends of SSCs that have been established four to six, seven to ten and 10+ years, and a discussion on how some are automating manual tasks and establishing new best practices to mirror the innovation that they were once realizing.

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September 6, 2018
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Shared Services in Finance and Accounting

Historically, companies have chosen to consolidate their office of finance’s operations to a shared service center (SSC) as a cost-saving measure that drives efficiency and standardization. However, according to the Shared Services and Outsourcing Network, there’s been increased focus on data analytics and long-term ROI over the past couple of years, particularly with companies in...

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