Finance Function Improvement

The finance function is becoming a proactive business partner as it has to increase efficiency and time spent on value added activities. We help organizations to get the most out of their finance function by reducing resources allocated to transactional processes and improving the financial management and control capabilities.

Based on our hands on experience ASCENTOR consultants can confidently support your organization in all matters related to finance and accounting:

  • Accelerated period end reporting: we have developed a methodology to accelerate the closing and consolidation process (e.g. monthly closing in three days). Our consultants will support the finance organization in obtaining high quality reporting information, in a short period of time and with reduced expenses without affecting the transparency and accuracy of the data.
  • Finance Shared Services Centre: we provide solutions for setting up Shared Service Centers operations and outsourcing qualifying activities for finance operations.
  • Finance function reorganization: our consultants support finance in taking a strategic role in the management of the business by decreasing time spent on routine operations though better use of technology, processes, people and data. We conduct assessments of current standards applied to finance control, processes, behaviors, data, organization, people and systems in order to improve finance processes and map them to best practices.
  • IFRS implementation: we help organizations understand how changes in standards impact financial statements and assist in choosing the required accounting policies. We also assist companies in the implementation of these changes in systems, processes, data, people and organizational structures.
  • Financial reporting support (IFRS, US GAAP, management reporting): we assist companies in compiling periodic financial and management reports. We are familiar with the requirements of the major Generally Accepted Accounting Principles (either IFRS or US GAAP) and Romanian Accounting Standards. We can work alongside the organization in preparing custom made management reports.
  • Consolidated financial statements: we prepare financial reporting packs for large organizations for consolidation of local operations at holding company level.