The Fast Close Toolkit

CHAPTER THIRTY FIVEChecklists for the Analysis and Reporting Process

CHECKLIST 11: QUARTER-END FISCAL CLOSE (10Q)

Introduction: This checklist provides the tasks for the external (10Q) reporting processes required for each quarterly close.

Quarter-End Fiscal Close
Period Ending ______________________________
EXTERNAL REPORTING
Steps:	Description	Applicable Business Unit	Responsible Party	Initial & Date Completed	Comments
1.0	Create and enter prior-period information in Form 10Q draft	Corporate	CFO
2.0	Request update of “New Accounting Pronouncements” section from SEC expert	Corporate	CFO
3.0	Update “New Accounting Pronouncements” section in Form 10Q draft	Corporate	CFO
4.0	Enter Financial Statements in the Form 10Q draft	Corporate	FRM
5.0	Update Footnotes, excluding the Debt, Stock-Based Compensation, Acquisition, Income Taxes footnotes	Corporate	FRM
6.0	Update the Debt, Stock-Based Compensation, Acquisition and Income Taxes footnotes	Corporate	CFO
7.0	Draft Item 2—MD&A section of Form 10Q	Corporate	CFO
8.0	Draft Item 3—Market Risk section of Form 10Q	Corporate	CFO
9.0	Draft Item 4—Controls section of Form 10Q	Corporate	CFO
10.0	Draft Part II—Other Information	Corporate	CFO
11.0	Draft Signature section	Corporate	CFO
12.0	Draft Certification section	Corporate	CFO
13.0	Review Form 10Q draft prior to circulation	Corporate	CFO
14.0	Distribute initial draft of Form 10Q to CEO, Audit Committee Chairman, Executive Management, ...