Halloween is the one night of the year when the spirits of the past come back to haunt us. But for many accountants, there are scarier things going on in their Excel spreadsheets every single month, especially when it comes to Excel Reconciliation. According to various studies, around 88% of spreadsheets contain errors. But how […]

Once a year the month-end close falls on Halloween, but finance staff are battling with some spooky demons all year round. You may not believe that these demons really exist, but according to the Adra Match Financial Benchmark Report, only 19% of finance staff trust their reported figures, and 90% reported being under pressure to […]

Do you have a fast friend? The kind of person you developed an instant liking for and quickly became bosom buddies with? It’s great when you find someone you just click with, who knows what you are going to say before you say it. But have you ever felt that way about accounting software? Probably […]

And God (of accounting) spoke these words: “I am the Lord your God…of accounting, who brought you out of financial trouble, out of the land of decreasing financial returns.” Unto them he bestowed 5 commandments of balance sheet reconciliation that would forever be the foundation of an efficient and effective accounting team. Are you guilty […]

Last week was a bad week for Tesco and its investors. After a whistleblower in the finance department came forward to alert senior executives as to a potential accounting black hole, chief executive Dave Lewis was forced to admit that Tesco had overstated their profits by a whopping £250m for the first half of 2014 […]

The stress of the month end close can get a lot of finance staff hot under the collar, when it comes to accounts with hordes of transactions to match. Just the idea of reconciling all those transactions by hand has them breaking out in a cold sweat, and a lack of time truly creates a […]

Do you remember that ill-famed speech 2002 by Donald Rumsfeld, the Defence Minister for USA in which he explains ‘known knowns’? Here’s a short clip to help refresh your memory:  Although clumsily worded, Rumsfeld’s speech is actually a good summary of the process that all of us in the information business are following – providing […]

In the heart of every finance professional – Accountant, Accounting Manager or CFO – is the desire to be economical. If finance professionals are not convinced that a purchase is necessary, if they are not convinced that it will deliver the benefits claimed or achieve a positive RoI, then it is the job of finance […]

Along with the digital and Internet age, a whole host of technological advancements have come which are empowering and enabling the finance department like never before. Cloud computing, SaaS, and intelligent automation, for example, can contribute to make your monthly financial close process more efficient, accurate and leave you time to focus on qualitative tasks. […]

Looking back over the centuries, the importance of financial accounting cannot be overlooked. As civilisations and empires (as well as multinational businesses) increase in complexity, their checks and balances have needed to keep up – both to provide accountability and to ensure the system is working as it should.  But when practiced poorly or unchecked, […]