Record to Report (R2R) is a Finance and Accounting (F&A) management process which involves collecting, processing and delivering relevant, timely and accurate information used for providing strategic, financial and operational feedback to understand how a business is performing. The R2R process forms an important aspect of the Finance and Accounting process. It involves complex processes of gathering, converting and supplying information to stakeholders who want to know if their expectations have been met.
 
We’ll look at the three phases of the R2R process and will discuss the challenges and areas for process improvements for each phase and will provide examples of best practices. We’ll present the six best practices that will support a timely and accurate close.  We’ll also present five critical close, consolidation and reporting issues to watch out for.
 
Learning Objectives:

• Dissect the R2R process by analyzing the key components of the financial close.


• Review best practices for each phase of the R2R process.


• Learn about the six best practices that will support an accurate close.


• Identify five financial close issues to watch out for.