The Value of Revamping Your Chart of Accounts

Do any of the following resonate for you, if so, maybe it’s time for you to re-evaluate your COA?

• Different COAs exist or may not be consistent or consistently used within business units or company subsidiaries, and with different reporting priorities
• The COA has not been kept up to date with changes in your business models or statutory / regulatory reporting
• Your COA has a lack of flexibility or limited scalability to integrate growth or new business units driven through mergers and acquisitions
• There is no link between key performance indicators and the COA
• There is limited use of sub-ledger systems for low-level analysis
• The COA processes and policies are poorly defined
• It is not clear who owns the COA or has responsibility for maintaining it
• There is a lack of training on the COA or lack of management over COA changes

To learn more about The Value of Revamping Your Chart of Accounts and how we can assist, download our Whitepaper.