Financial Year-End Review Checklist ( FINANCE )

This checklist is designed to ensure that all necessary financial documentation and processes are completed and reviewed at the end of the financial year, facilitating an accurate and thorough financial review and preparation for the upcoming year.

• Compile Year-End Financial Statements

  Gather all financial statements including balance sheets, income statements, and cash flow statements for the year.

• Review Account Reconciliations

  Ensure all accounts have been reconciled, including bank accounts and major asset accounts, to verify accuracy.

• Assess Compliance with Financial Policies

  Check that all financial activities and statements comply with organizational financial policies and regulations.

• Finalize Year-End Adjustments

  Make any necessary adjustments to account balances and financial statements based on the year-end review findings.

• Conduct Variance Analysis

  Analyze and document any significant variances from budgeted figures to understand financial performance.

• Prepare Management Discussion and Analysis

  Create a comprehensive report discussing the financial results, significant changes, and future outlook based on the year-end review.

• Distribute Final Financial Reports

  Disseminate the final financial reports to stakeholders, including management and board members, for review and acknowledgment.

• Plan for Next Year's Financial Strategies

  Develop strategies and financial goals for the next year based on the insights gathered from the year-end review.