Why combining ‘numbers’ and ‘narrative’ is critical for next generation Disclosure Management.
FSN White Paper, November 2011
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
