FNS White Paper, November 2011
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Abstract

In this white paper we provide a new perspective in group financial reporting which seeks to explain what sort of technology support is required to reconnect pre- and post-consolidation phases so that the Last Mile is not seen as a separate activity or afterthought but as a part of a continuum from financial close to reporting; in which numbers and narrative are inextricably linked.

Table of Contents

• THE ‘TRADITIONAL’ FINANCIAL CLOSE

• Definitions
• The rise of documents as part of the Last Mile
• ISSUES WITH TRADITIONAL DISCLOSURE PROCESSES
• Personal productivity tools
• First generation Disclosure Management Tools
• ERP-based Corporate Performance Management (CPM) suites
• Pure document management
• NEXT GENERATION DISCLOSURE MANAGEMENT
• Rounding
• XBRL disclosures
• Workflow and task management
• Finance domain knowledge is required

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