CloseMonth-end is late or repeatedly reopened
ReportingManagement lacks timely, dependable information
OwnershipImportant work or review depends on too few people
Next stepThe problems are visible, but the right support is not
Scope and result
Understand the current function, then decide what deserves attention first.
We focus on the questions that matter to the business rather than applying a fixed checklist. Depending on the situation, the work may address responsibilities, the monthly close and reconciliations, management reporting, systems and data flow, review and oversight, and coordination with the tax calendar.
The work is designed to produce
- A concise view of how the accounting function operates today.
- The most important gaps and why they matter.
- Prioritized near-term actions with suggested ownership and timing.
- A practical view of what the current team can address and where outside support may help.
- A working session with management to discuss the path forward.
Illustrative assessment output
See how a recurring problem becomes a practical first priority.
An assessment should do more than catalog issues. It should explain why each one matters, establish priority, and identify the first practical move.
Business context
An established specialty distributor has a three-person accounting team. The monthly close takes 20–25 days, leaving management to rely on separate sales and cash spreadsheets until the financial statements are available.
Priority 01
Stabilize the close before redesigning reports.
- Observation
- At reporting date, inventory receipts, related payables, and several accrual accounts remain unresolved, while older reconciling items continue to roll forward.
- Business impact
- Management may act on gross-margin and working-capital figures that later change, while unresolved items consume capacity during the next close.
- Priority & timing
- Immediate — begin with the next close and review progress after two cycles.
- Ownership & review
- Accounting lead, with weekly management review of material unresolved items.
- Practical first step
- Create a proposed close calendar that identifies required reconciliations, preparers, reviewers, due dates, and supporting records for management approval.
- Target operating state
- Financial reports are issued on a predictable date after material balances are supported and significant exceptions are resolved or clearly documented.
This example is not based on a client engagement. Actual observations, priorities, and deliverables depend on the company’s circumstances and the agreed scope.
A defined diagnostic engagement
Focused enough to answer the question—without committing you to a new accounting model.
Before work begins, we agree on the questions, information, scope, timing, deliverables, and fee. We then review the relevant reports, close activities, responsibilities, systems, and workflows; distinguish symptoms from causes; and discuss an ordered set of priorities with management.
The assessment is advisory and does not provide audit or assurance. A separate CPA firm performs any external financial-statement audit.
What happens next is your decision
Management decides whether and how to act on the priorities. The existing team may implement some improvements. Other needs may call for targeted cleanup, controller oversight, better reporting, or an ongoing Client Accounting Services relationship. Any additional work is scoped and proposed separately.
Related guidance
Consider whether the process itself has become the issue.
If you are still determining whether the problem is isolated or structural, these two guides provide a practical self-check.
Common questions
Questions business owners and finance leaders ask
Is this just a bookkeeping cleanup review?
No. Cleanup may be one issue, but the assessment looks at the broader reasons the accounting function is falling behind: responsibilities, close discipline, reconciliations, reporting, systems, oversight, and tax coordination.
Will we need to replace our current bookkeeper or accounting team?
Not necessarily. The goal is to understand what is working, where the team needs clearer responsibilities or support, and what additional capacity or senior review would make the biggest difference.
What if we already know some of the problems?
That is common. The value is in connecting the issues, separating symptoms from underlying causes, deciding what matters most, and turning a broad list of concerns into an ordered plan.
Can this help before a financing request or external audit?
Yes. The assessment can identify accounting-process, reporting, or documentation issues that may make an external deadline harder to meet. If an external-audit requirement is already known, a focused Audit Readiness engagement may be the better starting point. The assessment is advisory and does not provide audit or assurance; a separate CPA firm performs any external financial-statement audit.
How long does the assessment take and what does it cost?
Timing and fee depend on the number of entities, the complexity of the accounting process, the information available, and the questions management wants answered. After an introductory conversation, we can define the scope, expected timing, deliverables, and fee.
What happens after the assessment?
You decide how to act on the priorities. Your existing team may handle some improvements; other needs may call for cleanup, controller oversight, better reporting, or ongoing Client Accounting Services. Any additional work is proposed separately.
Start with a conversation
Decide whether a focused assessment fits the situation.
Tell us what has changed and where the accounting process is falling short. We’ll discuss whether the Assessment is the appropriate next step—or whether a more direct service path makes sense.
Discuss Whether an Assessment Fits
