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Yearly Accounting Department Goals Setting checklist
Review Previous Year's Performance
Analyze the year-end financial statements for insights on performance
Evaluate the achievement of last year's accounting department goals
Gather feedback from team members on the successes and challenges faced
Set New Financial Goals
Establish revenue targets for the upcoming year
Define cost-saving objectives to improve profitability
Determine capital budgeting for investments and expansions
Compliance and Regulation
Ensure alignment with new and existing tax laws and financial regulations
Plan for the annual audit and set goals for an unqualified opinion
Update internal control procedures to meet changing compliance requirements
Technology and Process Improvement
Identify opportunities for automation to increase efficiency
Evaluate and upgrade accounting software and tools if necessary
Set goals for reducing closing cycle times and improving reporting accuracy
Professional Development and Training
Assess skill gaps in the department and plan for targeted training
Set goals for professional certification or continuing education for staff
Encourage cross-training within the department to build redundancy
Stakeholder Engagement
Improve communication and reporting to management and external stakeholders
Set goals for enhancing transparency in financial disclosures
Develop a plan for regular interaction with other departments to align financial goals
