Workflow Templates: Yearly Accounting Department Goals Setting checklist

Yearly Accounting Department Goals Setting checklist

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

Establish revenue targets for the upcoming year

Define cost-saving objectives to improve profitability

Determine capital budgeting for investments and expansions

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

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

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

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

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