CHAPTER TWENTY THREEChecklists for the Corporate Close and Consolidation Process
CHECKLIST 5: CORPORATE CLOSE AND CONSOLIDATION
Introduction: This checklist recommends the process steps, applicable business unit, frequency, and responsible party for the tasks within the corporate close and consolidation process.
| Corporate Close and Consolidation | ||||||
| Period Ending______________ | ||||||
| CONSOLIDATION: | ||||||
| Steps: | Description | Applicable Business Unit | Fre quency | Responsible Party | Initial and Date Completed | Comments |
| 1.0 | Prepare Consolidation Spreadsheets for the new month | Corporate | Monthly | Financial Reporting Manager | ||
| 2.0 | Print and review each Division Trial Balance | Corporate | Monthly | Financial Reporting Manager | ||
| 3.0 | Enter each company's trial balance to the Consolidation Spreadsheet | Corporate | Monthly | Financial Reporting Manager | ||
| 4.0 | Verify entry by balancing and reviewing the trial balance for each division | Corporate | Monthly | Financial Reporting Manager | ||
| 5.0 | Prepare Adjustments and Elimination entries | Corporate | Monthly | Financial Reporting Manager | ||
| 6.0 | Prepare Adjustments and Elimination entries | Corporate | Monthly | Financial Reporting Manager | ||
| 7.0 | Prepare Adjustments and Elimination entries | Corporate | Monthly | Financial Reporting Manager | ||
| 8.0 | Enter Adjustments and Elimination entries into the Consolidation Spreadsheet | Corporate | Monthly | Financial Reporting Manager | ||
| 9.0 | Verify the Consolidation Spreadsheet check items are correct | Corporate | Monthly | Financial Reporting Manager ... | ||
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