Closing the Fiscal Year

Finance is in the thick of fiscal year closing. The controller's team is working extended hours to reconcile accounts, lock journals, and prepare audit workpapers.

This year's close introduces two new systems: a revised revenue recognition flow and an updated intercompany elimination process. Both added complexity but are operating smoothly.

The audit team arrives next week for a two-week field review. Engagement letter and sample documents were delivered on time, which earned the team a brief nod of appreciation.

Preliminary results indicate revenue up 8% and EBITDA up 12% versus plan. The real verdict comes when the audit opinion is signed and the annual report is filed publicly.