Preparing for Year End
Now is the time for calendar year-end companies to begin preparing to meet their year-end reporting
requirements. Several parallel efforts should be initiated as the year begins to wind down. These are:
• Identify transactions that require current value accounting or derivatives treatment
• Perform preliminary ratio analysis and cash forecasting so that year end transactions can be timed to present a positive balance sheet or income statement.
• Review legal documents and transaction documentation
• Prepare questionnaires and templates necessary to update non accounting information in your
annual report, such as beneficial ownership and director information.
• Reconcile balance sheet accounts and prepare roll forward schedules and gather the
documentation supporting transactions.
The key to a smooth year end reporting process is preparation and planning. For example, if your
company entered into a transaction during the year that requires fair value accounting, begin gathering
the executed transaction documents, the fair value inputs and resources, such as a valuation expert,
now.
Clear Financial Solutions, Inc. can assist you with these tasks. Call us today for a free one hour consultation.
