SlideShare a Scribd company logo
Longview FXR
Financial, External & XBRL Reporting
The financial consolidation and reporting cycle, which includes
collecting and consolidating financial information from all corporate
entities, closing the books, reporting to management, receiving auditor
sign-off on the results, reporting to regulatory authorities and issuing
earnings releases and other statutory financial statements, is highly
complex and fraught with numerous potential problems. Despite a
predictable monthly, quarterly and annual schedule, this reporting
process is often chaotic.
The continuing intensity of regulatory requirements, including XBRL
reporting, and the sensitive nature of the published financial
information require a great deal of time and effort to create, review and
validate the public filing package. Driven by regulatory authorities
attempting to increase transparency and accountability of financial
information, these requirements compel companies to provide
increasingly deeper levels of disclosure without any additional time to
do so. Furthermore, new mandates for XBRL tagging and reporting are
forcing organizations to exceed the allowable time limits required to
fulfill external reporting obligations to their regulatory authorities.
Some of the common challenges facing External Reporting departments
include manual, disjointed and complex processes, last minute
adjustments requiring proliferation throughout multiple filings, and
increasing regulatory demands. As a result, organizations are exposed
to a myriad of risks, including delays, lack of data accuracy, material
errors, restatements, and limited transparency.
Longview FXR promotes an effective, efficient and coordinated process
to produce regulatory filing documents. By using a single, validated
repository of financial data supported by cross-check, version control,
and a detailed audit trail, customers can standardize and automate the
entire process, thus dramatically reducing risk inherent in financial
reporting.
“The financial reporting and disclosure tools offered in the
emerging financial governance market represent a major opportunity for enterprises
to improve their controls in the final steps of finance management.”
Gartner
Benefits At A Glance
n The most comprehensive, innovative and
easy-to-use solution for automating
internal, external, and regulatory
reporting
n Significantly shortens the financial
reporting cycle time
n Reduces corporate risk and liability while
improving regulatory compliance
n Provides visibility, control, and proactive
notification of issues
n Ensures sustainability, control, and
process optimization through embedded
workflow
n Ensures consistency of quantitative and
qualitative content across disclosures
n Ensures data integrity and process
control through role based security
n Enables real-time collaboration with
on-line and offline edits, reviews, and
certifications
n Satisfies regulatory filing mandates and
standardizes complex financial reporting
tasks with embedded XBRL functionality
n Maximizes re-use of prior period
documents and XBRL tags through
roll-forward
n Enables outputs in multiple electronic
formats
Longview FXR
Based on a single repository of accurate information from
across the organization, Longview FXR is a centralized
financial reporting solution with embedded support for
XBRL tagging and document creation that streamlines
financial report preparation and publishing to internal
stakeholders and external regulatory authorities.
Data Preparation – Rounding and Scaling
Longview FXR helps to easily create a regulatory filing area
and provides an easy to use interface for rounding and
scaling of the relevant data; thereby simplifying data
preparation needed to support the statutory filing of
financial reports.
Longview FXR
! "
! " ! $ " $
! " " $ ! " $
! "
2
Footnote Manager
Longview FXR automates the creation, approval, routing,
management and storage of footnote disclosures, ensuring
accurate and efficient footnote generation. It also delivers
a system of record to unify close tasks and internal controls
associated with footnote disclosures, minimizing
restatements due to error.
Disclosure Index
Longview FXR provides a comprehensive summary of all
critical period-end documents. Each disclosure item includes
a status indicator for relevant close tasks, internal controls
and management approval.
Distributed Document Management
Framework
Longview FXR offers advanced document management
features intended to save your financial reporting team time
and money, including the ability to:
n Create roll-forward report templates from previous
periods
n Capture "snapshots" using document versioning
n Allow multiple stakeholders to work on the same
document at once with document segmentation
n Leverage MS Word for collaboration and red-lining
n Format disclosures in XBRL, MS Word and “Edgar ready”
documents
n Export financial data from disclosures
n Automate the creation of 10-K, 10-Q and 20-F reports
Embedded XBRL Tagging
Longview FXR streamlines your reporting process with
embedded XBRL tagging that, unlike bolt-on XBRL tagging
products, allows you to tag financial data once and output
financial statements as often as required.
Leverage Existing Taxonomies
User-friendly features ensure easy selection and tagging of
content, tagging from existing taxonomies and fill-in
additional tag information. Intuitive reporting and export
features also help to view, validate, export and preview
tagged documents ensuring accuracy.
Cross-Check and SEC XBRL Compliance
The cross-check feature ensures that quantitative and
qualitative content is consistent across disclosures. Also,
Longview FXR automates tasks in the final steps of SEC
document preparation, reducing errors and delays, and
enables efficient collaboration across contributing groups
such as internal audit, general counsel, investor relations
and external auditors.
www.longview.com
! "
One-Button Financial Statement Publisher
Longview FXR automatically generates XBRL compliant
disclosures, producing draft 10-Ks, 10-Qs, audit committee
books and internal management reports in a variety of
output formats.
Process Management and Workflow
Longview FXR provides a comprehensive set of internal
controls, reducing urgent interruptions and streamlining
workload spikes. It also significantly reduces the possibility
of error with built-in version control and offers the ability to
segregate duties including review and approval tasks.
Adding workflow to the build process streamlines and
improves collaboration and control over the process of
gathering input and feedback from multiple stakeholders.
Adding workflow to the review process ensures that the
action plans are monitored and executed on a timely basis
by the appropriate stakeholders.
Audit Trail
Longview FXR helps compare any two versions of a
document to identify changes easily and provides a detailed
audit trail from the pre-consolidated close process forward.
Leverage XBRL as a Competitive Tool
Longview FXR provides quick visibility into the progress
of the period-end close and compliance testing processes.
It helps manage and track period-end close tasks with
visibility of associated dependencies, issues and related
control testing. Beyond being a compliance requirement,
XBRL can thus become a competitive financial tool;
improving management visibility and control into critical
financial processes.
! " " # $
3
! " " " #
11/2012
About Longview Solutions
Longview Solutions provides a corporate performance management (CPM) and tax data management platform that leading companies
such as Aon, Brunswick, Lexmark, The Home Depot and Trustmark use to drive performance with speed, visibility and financial integrity.
Since 1994, Longview has been helping clients create a single repository of financial truth from which all, or any one of the following
key financial processes can be performed: financial planning, budgeting, forecasting, modeling, disclosure management/XBRL reporting,
statutory consolidation, management reporting, profitability analytics, tax data collection, tax provision/reporting and tax planning.
Longview is headquartered in Toronto, Canada with additional offices in Philadelphia, Chicago (USA), London (UK), and Amsterdam
(NL).
For more information please visit www.longview.com.
Division Headquarters US Headquarters UK Headquarters Netherlands Headquarters
65 Allstate Parkway, Suite 200
Markham, ON • L3R 9X1 • Canada
2 Radnor Corporate Center
100 Matsonford Road, Suite 230
Radnor, PA • 19087 • USA
Nexus House, Station Road,
Egham, Surrey
TW20 9LB• UK
WTC The Hague, 16th floor
Prinses Margrietplantsoen 46, 2595
BR The Hague, The Netherlands
Tel 905.940.1510 Tel 610.977.0995 Tel 905.940.1510 Tel +31 (0)854884 783
Fax 905.940.8310 Fax 484.367.1153 Fax 905.940.8310 Fax +31 (0) 854884 782
Email info@longview.com Email info@longview.com Email info@longview.com Email info@longview.com
© Copyright 2012 Longview Solutions. All rights reserved.

More Related Content

What's hot

Deep dive into salesforce connected app part 1
Deep dive into salesforce connected app   part 1Deep dive into salesforce connected app   part 1
Deep dive into salesforce connected app part 1Mohith Shrivastava
 
2013-06-13 Government Contractors Project Management Systems
2013-06-13 Government Contractors Project Management Systems2013-06-13 Government Contractors Project Management Systems
2013-06-13 Government Contractors Project Management SystemsRaffa Learning Community
 
TrailheadX Presentation - 2020 Cluj
TrailheadX Presentation -  2020 ClujTrailheadX Presentation -  2020 Cluj
TrailheadX Presentation - 2020 ClujArpad Komaromi
 
Deep dive into salesforce connected app - part 2
Deep dive into salesforce connected app - part 2Deep dive into salesforce connected app - part 2
Deep dive into salesforce connected app - part 2Mohith Shrivastava
 
Hfm demo (1)
Hfm demo (1)Hfm demo (1)
Hfm demo (1)rsreenu
 
Kyzer Software Trade Finance Process Automation
Kyzer Software Trade Finance Process AutomationKyzer Software Trade Finance Process Automation
Kyzer Software Trade Finance Process AutomationSupriya Kulkarni
 
Improving employee benefit plan audits
Improving employee benefit plan auditsImproving employee benefit plan audits
Improving employee benefit plan auditsCarol Buckmann
 
Leading UK Life Provider Automates Internal Model Processes for Solvency II C...
Leading UK Life Provider Automates Internal Model Processes for Solvency II C...Leading UK Life Provider Automates Internal Model Processes for Solvency II C...
Leading UK Life Provider Automates Internal Model Processes for Solvency II C...SecondFloor
 
July 2020 Chicago Nonprofit Group - Summer '20 Highlights
July 2020 Chicago Nonprofit Group - Summer '20 HighlightsJuly 2020 Chicago Nonprofit Group - Summer '20 Highlights
July 2020 Chicago Nonprofit Group - Summer '20 Highlightscsupilowski
 
Admin Best Practices: Remove Security Risk From Your Org with a User Audit
Admin Best Practices: Remove Security Risk From Your Org with a User AuditAdmin Best Practices: Remove Security Risk From Your Org with a User Audit
Admin Best Practices: Remove Security Risk From Your Org with a User AuditSalesforce Admins
 
Admin Best Practices: 3 Steps to Seamless Deployments
Admin Best Practices: 3 Steps to Seamless DeploymentsAdmin Best Practices: 3 Steps to Seamless Deployments
Admin Best Practices: 3 Steps to Seamless DeploymentsSalesforce Admins
 
FIU India CBWTR Bank Use Case
FIU India CBWTR Bank Use CaseFIU India CBWTR Bank Use Case
FIU India CBWTR Bank Use CaseSupriya Kulkarni
 
Jeffery Leu | Asset Management - Conserve Cash as well as Boost Productivity
Jeffery Leu | Asset Management - Conserve Cash as well as Boost ProductivityJeffery Leu | Asset Management - Conserve Cash as well as Boost Productivity
Jeffery Leu | Asset Management - Conserve Cash as well as Boost ProductivityJefferyLeu
 
ISA 701 (New) Communicating Key Audit Matters in the Independent Auditor’s Re...
ISA 701 (New) Communicating Key Audit Matters in the Independent Auditor’s Re...ISA 701 (New) Communicating Key Audit Matters in the Independent Auditor’s Re...
ISA 701 (New) Communicating Key Audit Matters in the Independent Auditor’s Re...Crowe - Professional Auditors LV
 

What's hot (20)

Deep dive into salesforce connected app part 1
Deep dive into salesforce connected app   part 1Deep dive into salesforce connected app   part 1
Deep dive into salesforce connected app part 1
 
2013-06-13 Government Contractors Project Management Systems
2013-06-13 Government Contractors Project Management Systems2013-06-13 Government Contractors Project Management Systems
2013-06-13 Government Contractors Project Management Systems
 
2015-03-10 Managing Government Contracts
2015-03-10 Managing Government Contracts 2015-03-10 Managing Government Contracts
2015-03-10 Managing Government Contracts
 
TrailheadX Presentation - 2020 Cluj
TrailheadX Presentation -  2020 ClujTrailheadX Presentation -  2020 Cluj
TrailheadX Presentation - 2020 Cluj
 
Deep dive into salesforce connected app - part 2
Deep dive into salesforce connected app - part 2Deep dive into salesforce connected app - part 2
Deep dive into salesforce connected app - part 2
 
Implementing Einstein OCR
Implementing Einstein OCRImplementing Einstein OCR
Implementing Einstein OCR
 
Hfm demo (1)
Hfm demo (1)Hfm demo (1)
Hfm demo (1)
 
Winter '22 highlights
Winter '22 highlightsWinter '22 highlights
Winter '22 highlights
 
Kyzer Software Trade Finance Process Automation
Kyzer Software Trade Finance Process AutomationKyzer Software Trade Finance Process Automation
Kyzer Software Trade Finance Process Automation
 
Hfm intro
Hfm introHfm intro
Hfm intro
 
Improving employee benefit plan audits
Improving employee benefit plan auditsImproving employee benefit plan audits
Improving employee benefit plan audits
 
Leading UK Life Provider Automates Internal Model Processes for Solvency II C...
Leading UK Life Provider Automates Internal Model Processes for Solvency II C...Leading UK Life Provider Automates Internal Model Processes for Solvency II C...
Leading UK Life Provider Automates Internal Model Processes for Solvency II C...
 
James hall ch 15
James hall ch 15James hall ch 15
James hall ch 15
 
July 2020 Chicago Nonprofit Group - Summer '20 Highlights
July 2020 Chicago Nonprofit Group - Summer '20 HighlightsJuly 2020 Chicago Nonprofit Group - Summer '20 Highlights
July 2020 Chicago Nonprofit Group - Summer '20 Highlights
 
Admin Best Practices: Remove Security Risk From Your Org with a User Audit
Admin Best Practices: Remove Security Risk From Your Org with a User AuditAdmin Best Practices: Remove Security Risk From Your Org with a User Audit
Admin Best Practices: Remove Security Risk From Your Org with a User Audit
 
Admin Best Practices: 3 Steps to Seamless Deployments
Admin Best Practices: 3 Steps to Seamless DeploymentsAdmin Best Practices: 3 Steps to Seamless Deployments
Admin Best Practices: 3 Steps to Seamless Deployments
 
Presentation on ISA 701
Presentation on ISA 701Presentation on ISA 701
Presentation on ISA 701
 
FIU India CBWTR Bank Use Case
FIU India CBWTR Bank Use CaseFIU India CBWTR Bank Use Case
FIU India CBWTR Bank Use Case
 
Jeffery Leu | Asset Management - Conserve Cash as well as Boost Productivity
Jeffery Leu | Asset Management - Conserve Cash as well as Boost ProductivityJeffery Leu | Asset Management - Conserve Cash as well as Boost Productivity
Jeffery Leu | Asset Management - Conserve Cash as well as Boost Productivity
 
ISA 701 (New) Communicating Key Audit Matters in the Independent Auditor’s Re...
ISA 701 (New) Communicating Key Audit Matters in the Independent Auditor’s Re...ISA 701 (New) Communicating Key Audit Matters in the Independent Auditor’s Re...
ISA 701 (New) Communicating Key Audit Matters in the Independent Auditor’s Re...
 

Similar to Longview FXR Financial Close Management

Longview Planning, Budgeting, Forecasting
Longview Planning, Budgeting, ForecastingLongview Planning, Budgeting, Forecasting
Longview Planning, Budgeting, ForecastingLongview
 
Financials_Cloud_Datasheet
Financials_Cloud_DatasheetFinancials_Cloud_Datasheet
Financials_Cloud_DatasheetDustin Dunnam
 
The Last Mile of Finance
The Last Mile of FinanceThe Last Mile of Finance
The Last Mile of FinanceAnthony D'Ugo
 
Ast 0101237 erp-us_en_wp_oracle_fusionfinancials
Ast 0101237 erp-us_en_wp_oracle_fusionfinancialsAst 0101237 erp-us_en_wp_oracle_fusionfinancials
Ast 0101237 erp-us_en_wp_oracle_fusionfinancialsJOSÉ RAMON CARIAS
 
17. Process: ocp cfops integration
17. Process: ocp cfops integration17. Process: ocp cfops integration
17. Process: ocp cfops integrationssusereb347d
 
Pwc & sap dsiclosure management
Pwc & sap dsiclosure managementPwc & sap dsiclosure management
Pwc & sap dsiclosure managementDharam Choudhary
 
Visionwaves Knowledge Days - in control dashboards
Visionwaves Knowledge Days  - in control dashboardsVisionwaves Knowledge Days  - in control dashboards
Visionwaves Knowledge Days - in control dashboardsIlse Boer
 
Modernizing Your Finance Team With Technology
Modernizing Your Finance Team With TechnologyModernizing Your Finance Team With Technology
Modernizing Your Finance Team With TechnologyWorkiva
 
Lombad risk automated regulatory compliance
Lombad risk automated regulatory complianceLombad risk automated regulatory compliance
Lombad risk automated regulatory complianceLombard Risk Management
 
Lombad Risk Automated Regulatory Compliance
Lombad Risk Automated Regulatory ComplianceLombad Risk Automated Regulatory Compliance
Lombad Risk Automated Regulatory ComplianceLombard Risk Management
 
donna z sheehan resume Jan2017
donna z sheehan resume Jan2017donna z sheehan resume Jan2017
donna z sheehan resume Jan2017Donna Sheehan
 
Updated 2012 IBM Cognos FSR Presentation.pptx
Updated 2012 IBM Cognos FSR Presentation.pptxUpdated 2012 IBM Cognos FSR Presentation.pptx
Updated 2012 IBM Cognos FSR Presentation.pptxroccocarducci
 
Xbrl Ireland XBRL Update Dealing with Mandatory Reporting
Xbrl  Ireland XBRL Update Dealing with Mandatory ReportingXbrl  Ireland XBRL Update Dealing with Mandatory Reporting
Xbrl Ireland XBRL Update Dealing with Mandatory ReportingConor O'Kelly
 
Solvency II Brochure
Solvency II BrochureSolvency II Brochure
Solvency II BrochureEce Alptunaer
 
MV Consulting_CPM Practise Presentation
MV Consulting_CPM Practise PresentationMV Consulting_CPM Practise Presentation
MV Consulting_CPM Practise PresentationLino Acito
 
Sample audit plan
Sample audit planSample audit plan
Sample audit planMaher Manan
 

Similar to Longview FXR Financial Close Management (20)

Longview Planning, Budgeting, Forecasting
Longview Planning, Budgeting, ForecastingLongview Planning, Budgeting, Forecasting
Longview Planning, Budgeting, Forecasting
 
Financials_Cloud_Datasheet
Financials_Cloud_DatasheetFinancials_Cloud_Datasheet
Financials_Cloud_Datasheet
 
Financials_Cloud_Datasheet
Financials_Cloud_DatasheetFinancials_Cloud_Datasheet
Financials_Cloud_Datasheet
 
The Last Mile of Finance
The Last Mile of FinanceThe Last Mile of Finance
The Last Mile of Finance
 
Regulatory Compliance Audit Management Solution
Regulatory Compliance Audit Management SolutionRegulatory Compliance Audit Management Solution
Regulatory Compliance Audit Management Solution
 
Ast 0101237 erp-us_en_wp_oracle_fusionfinancials
Ast 0101237 erp-us_en_wp_oracle_fusionfinancialsAst 0101237 erp-us_en_wp_oracle_fusionfinancials
Ast 0101237 erp-us_en_wp_oracle_fusionfinancials
 
17. Process: ocp cfops integration
17. Process: ocp cfops integration17. Process: ocp cfops integration
17. Process: ocp cfops integration
 
Pwc & sap dsiclosure management
Pwc & sap dsiclosure managementPwc & sap dsiclosure management
Pwc & sap dsiclosure management
 
Visionwaves Knowledge Days - in control dashboards
Visionwaves Knowledge Days  - in control dashboardsVisionwaves Knowledge Days  - in control dashboards
Visionwaves Knowledge Days - in control dashboards
 
Modernizing Your Finance Team With Technology
Modernizing Your Finance Team With TechnologyModernizing Your Finance Team With Technology
Modernizing Your Finance Team With Technology
 
Proactive ERP Overview
Proactive ERP OverviewProactive ERP Overview
Proactive ERP Overview
 
Lombad risk automated regulatory compliance
Lombad risk automated regulatory complianceLombad risk automated regulatory compliance
Lombad risk automated regulatory compliance
 
Lombad Risk Automated Regulatory Compliance
Lombad Risk Automated Regulatory ComplianceLombad Risk Automated Regulatory Compliance
Lombad Risk Automated Regulatory Compliance
 
donna z sheehan resume Jan2017
donna z sheehan resume Jan2017donna z sheehan resume Jan2017
donna z sheehan resume Jan2017
 
Hfm intro v2
Hfm intro v2Hfm intro v2
Hfm intro v2
 
Updated 2012 IBM Cognos FSR Presentation.pptx
Updated 2012 IBM Cognos FSR Presentation.pptxUpdated 2012 IBM Cognos FSR Presentation.pptx
Updated 2012 IBM Cognos FSR Presentation.pptx
 
Xbrl Ireland XBRL Update Dealing with Mandatory Reporting
Xbrl  Ireland XBRL Update Dealing with Mandatory ReportingXbrl  Ireland XBRL Update Dealing with Mandatory Reporting
Xbrl Ireland XBRL Update Dealing with Mandatory Reporting
 
Solvency II Brochure
Solvency II BrochureSolvency II Brochure
Solvency II Brochure
 
MV Consulting_CPM Practise Presentation
MV Consulting_CPM Practise PresentationMV Consulting_CPM Practise Presentation
MV Consulting_CPM Practise Presentation
 
Sample audit plan
Sample audit planSample audit plan
Sample audit plan
 

Recently uploaded

USA classified ads posting – best classified sites in usa.pdf
USA classified ads posting – best classified sites in usa.pdfUSA classified ads posting – best classified sites in usa.pdf
USA classified ads posting – best classified sites in usa.pdfsuperbizness1227
 
Hyundai capital 2024 1q Earnings release
Hyundai capital 2024 1q Earnings releaseHyundai capital 2024 1q Earnings release
Hyundai capital 2024 1q Earnings releaseirhcs
 
Inside the Black Box of Venture Capital (VC)
Inside the Black Box of Venture Capital (VC)Inside the Black Box of Venture Capital (VC)
Inside the Black Box of Venture Capital (VC)Alejandro Cremades
 
NewBase 24 May 2024 Energy News issue - 1727 by Khaled Al Awadi_compresse...
NewBase   24 May  2024  Energy News issue - 1727 by Khaled Al Awadi_compresse...NewBase   24 May  2024  Energy News issue - 1727 by Khaled Al Awadi_compresse...
NewBase 24 May 2024 Energy News issue - 1727 by Khaled Al Awadi_compresse...Khaled Al Awadi
 
Matt Conway - Attorney - A Knowledgeable Professional - Kentucky.pdf
Matt Conway - Attorney - A Knowledgeable Professional - Kentucky.pdfMatt Conway - Attorney - A Knowledgeable Professional - Kentucky.pdf
Matt Conway - Attorney - A Knowledgeable Professional - Kentucky.pdfMatt Conway - Attorney
 
Global Interconnection Group Joint Venture[960] (1).pdf
Global Interconnection Group Joint Venture[960] (1).pdfGlobal Interconnection Group Joint Venture[960] (1).pdf
Global Interconnection Group Joint Venture[960] (1).pdfHenry Tapper
 
zidauu _business communication.pptx /pdf
zidauu _business  communication.pptx /pdfzidauu _business  communication.pptx /pdf
zidauu _business communication.pptx /pdfzukhrafshabbir
 
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdfInnomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdfInnomantra
 
Revolutionizing Industries: The Power of Carbon Components
Revolutionizing Industries: The Power of Carbon ComponentsRevolutionizing Industries: The Power of Carbon Components
Revolutionizing Industries: The Power of Carbon ComponentsConnova AG
 
How to Maintain Healthy Life style.pptx
How to Maintain  Healthy Life style.pptxHow to Maintain  Healthy Life style.pptx
How to Maintain Healthy Life style.pptxrdishurana
 
Future of Trade 2024 - Decoupled and Reconfigured - Snapshot Report
Future of Trade 2024 - Decoupled and Reconfigured - Snapshot ReportFuture of Trade 2024 - Decoupled and Reconfigured - Snapshot Report
Future of Trade 2024 - Decoupled and Reconfigured - Snapshot ReportDubai Multi Commodity Centre
 
The Inspiring Personality To Watch In 2024.pdf
The Inspiring Personality To Watch In 2024.pdfThe Inspiring Personality To Watch In 2024.pdf
The Inspiring Personality To Watch In 2024.pdfinsightssuccess2
 
Potato Flakes Manufacturing Plant Project Report.pdf
Potato Flakes Manufacturing Plant Project Report.pdfPotato Flakes Manufacturing Plant Project Report.pdf
Potato Flakes Manufacturing Plant Project Report.pdfhostl9518
 
Special Purpose Vehicle (Purpose, Formation & examples)
Special Purpose Vehicle (Purpose, Formation & examples)Special Purpose Vehicle (Purpose, Formation & examples)
Special Purpose Vehicle (Purpose, Formation & examples)linciy03
 
Series A Fundraising Guide (Investing Individuals Improving Our World) by Accion
Series A Fundraising Guide (Investing Individuals Improving Our World) by AccionSeries A Fundraising Guide (Investing Individuals Improving Our World) by Accion
Series A Fundraising Guide (Investing Individuals Improving Our World) by AccionAlejandro Cremades
 
Byrd & Chen’s Canadian Tax Principles 2023-2024 Edition 1st edition Volumes I...
Byrd & Chen’s Canadian Tax Principles 2023-2024 Edition 1st edition Volumes I...Byrd & Chen’s Canadian Tax Principles 2023-2024 Edition 1st edition Volumes I...
Byrd & Chen’s Canadian Tax Principles 2023-2024 Edition 1st edition Volumes I...ssuserf63bd7
 
Raising Seed Capital by Steve Schlafman at RRE Ventures
Raising Seed Capital by Steve Schlafman at RRE VenturesRaising Seed Capital by Steve Schlafman at RRE Ventures
Raising Seed Capital by Steve Schlafman at RRE VenturesAlejandro Cremades
 
Meaningful Technology for Humans: How Strategy Helps to Deliver Real Value fo...
Meaningful Technology for Humans: How Strategy Helps to Deliver Real Value fo...Meaningful Technology for Humans: How Strategy Helps to Deliver Real Value fo...
Meaningful Technology for Humans: How Strategy Helps to Deliver Real Value fo...Björn Rohles
 
Unleash Data Power with EnFuse Solutions' Comprehensive Data Management Servi...
Unleash Data Power with EnFuse Solutions' Comprehensive Data Management Servi...Unleash Data Power with EnFuse Solutions' Comprehensive Data Management Servi...
Unleash Data Power with EnFuse Solutions' Comprehensive Data Management Servi...Rahul Bedi
 
HR and Employment law update: May 2024.
HR and Employment law update:  May 2024.HR and Employment law update:  May 2024.
HR and Employment law update: May 2024.FelixPerez547899
 

Recently uploaded (20)

USA classified ads posting – best classified sites in usa.pdf
USA classified ads posting – best classified sites in usa.pdfUSA classified ads posting – best classified sites in usa.pdf
USA classified ads posting – best classified sites in usa.pdf
 
Hyundai capital 2024 1q Earnings release
Hyundai capital 2024 1q Earnings releaseHyundai capital 2024 1q Earnings release
Hyundai capital 2024 1q Earnings release
 
Inside the Black Box of Venture Capital (VC)
Inside the Black Box of Venture Capital (VC)Inside the Black Box of Venture Capital (VC)
Inside the Black Box of Venture Capital (VC)
 
NewBase 24 May 2024 Energy News issue - 1727 by Khaled Al Awadi_compresse...
NewBase   24 May  2024  Energy News issue - 1727 by Khaled Al Awadi_compresse...NewBase   24 May  2024  Energy News issue - 1727 by Khaled Al Awadi_compresse...
NewBase 24 May 2024 Energy News issue - 1727 by Khaled Al Awadi_compresse...
 
Matt Conway - Attorney - A Knowledgeable Professional - Kentucky.pdf
Matt Conway - Attorney - A Knowledgeable Professional - Kentucky.pdfMatt Conway - Attorney - A Knowledgeable Professional - Kentucky.pdf
Matt Conway - Attorney - A Knowledgeable Professional - Kentucky.pdf
 
Global Interconnection Group Joint Venture[960] (1).pdf
Global Interconnection Group Joint Venture[960] (1).pdfGlobal Interconnection Group Joint Venture[960] (1).pdf
Global Interconnection Group Joint Venture[960] (1).pdf
 
zidauu _business communication.pptx /pdf
zidauu _business  communication.pptx /pdfzidauu _business  communication.pptx /pdf
zidauu _business communication.pptx /pdf
 
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdfInnomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
Innomantra Viewpoint - Building Moonshots : May-Jun 2024.pdf
 
Revolutionizing Industries: The Power of Carbon Components
Revolutionizing Industries: The Power of Carbon ComponentsRevolutionizing Industries: The Power of Carbon Components
Revolutionizing Industries: The Power of Carbon Components
 
How to Maintain Healthy Life style.pptx
How to Maintain  Healthy Life style.pptxHow to Maintain  Healthy Life style.pptx
How to Maintain Healthy Life style.pptx
 
Future of Trade 2024 - Decoupled and Reconfigured - Snapshot Report
Future of Trade 2024 - Decoupled and Reconfigured - Snapshot ReportFuture of Trade 2024 - Decoupled and Reconfigured - Snapshot Report
Future of Trade 2024 - Decoupled and Reconfigured - Snapshot Report
 
The Inspiring Personality To Watch In 2024.pdf
The Inspiring Personality To Watch In 2024.pdfThe Inspiring Personality To Watch In 2024.pdf
The Inspiring Personality To Watch In 2024.pdf
 
Potato Flakes Manufacturing Plant Project Report.pdf
Potato Flakes Manufacturing Plant Project Report.pdfPotato Flakes Manufacturing Plant Project Report.pdf
Potato Flakes Manufacturing Plant Project Report.pdf
 
Special Purpose Vehicle (Purpose, Formation & examples)
Special Purpose Vehicle (Purpose, Formation & examples)Special Purpose Vehicle (Purpose, Formation & examples)
Special Purpose Vehicle (Purpose, Formation & examples)
 
Series A Fundraising Guide (Investing Individuals Improving Our World) by Accion
Series A Fundraising Guide (Investing Individuals Improving Our World) by AccionSeries A Fundraising Guide (Investing Individuals Improving Our World) by Accion
Series A Fundraising Guide (Investing Individuals Improving Our World) by Accion
 
Byrd & Chen’s Canadian Tax Principles 2023-2024 Edition 1st edition Volumes I...
Byrd & Chen’s Canadian Tax Principles 2023-2024 Edition 1st edition Volumes I...Byrd & Chen’s Canadian Tax Principles 2023-2024 Edition 1st edition Volumes I...
Byrd & Chen’s Canadian Tax Principles 2023-2024 Edition 1st edition Volumes I...
 
Raising Seed Capital by Steve Schlafman at RRE Ventures
Raising Seed Capital by Steve Schlafman at RRE VenturesRaising Seed Capital by Steve Schlafman at RRE Ventures
Raising Seed Capital by Steve Schlafman at RRE Ventures
 
Meaningful Technology for Humans: How Strategy Helps to Deliver Real Value fo...
Meaningful Technology for Humans: How Strategy Helps to Deliver Real Value fo...Meaningful Technology for Humans: How Strategy Helps to Deliver Real Value fo...
Meaningful Technology for Humans: How Strategy Helps to Deliver Real Value fo...
 
Unleash Data Power with EnFuse Solutions' Comprehensive Data Management Servi...
Unleash Data Power with EnFuse Solutions' Comprehensive Data Management Servi...Unleash Data Power with EnFuse Solutions' Comprehensive Data Management Servi...
Unleash Data Power with EnFuse Solutions' Comprehensive Data Management Servi...
 
HR and Employment law update: May 2024.
HR and Employment law update:  May 2024.HR and Employment law update:  May 2024.
HR and Employment law update: May 2024.
 

Longview FXR Financial Close Management

  • 1. Longview FXR Financial, External & XBRL Reporting The financial consolidation and reporting cycle, which includes collecting and consolidating financial information from all corporate entities, closing the books, reporting to management, receiving auditor sign-off on the results, reporting to regulatory authorities and issuing earnings releases and other statutory financial statements, is highly complex and fraught with numerous potential problems. Despite a predictable monthly, quarterly and annual schedule, this reporting process is often chaotic. The continuing intensity of regulatory requirements, including XBRL reporting, and the sensitive nature of the published financial information require a great deal of time and effort to create, review and validate the public filing package. Driven by regulatory authorities attempting to increase transparency and accountability of financial information, these requirements compel companies to provide increasingly deeper levels of disclosure without any additional time to do so. Furthermore, new mandates for XBRL tagging and reporting are forcing organizations to exceed the allowable time limits required to fulfill external reporting obligations to their regulatory authorities. Some of the common challenges facing External Reporting departments include manual, disjointed and complex processes, last minute adjustments requiring proliferation throughout multiple filings, and increasing regulatory demands. As a result, organizations are exposed to a myriad of risks, including delays, lack of data accuracy, material errors, restatements, and limited transparency. Longview FXR promotes an effective, efficient and coordinated process to produce regulatory filing documents. By using a single, validated repository of financial data supported by cross-check, version control, and a detailed audit trail, customers can standardize and automate the entire process, thus dramatically reducing risk inherent in financial reporting. “The financial reporting and disclosure tools offered in the emerging financial governance market represent a major opportunity for enterprises to improve their controls in the final steps of finance management.” Gartner Benefits At A Glance n The most comprehensive, innovative and easy-to-use solution for automating internal, external, and regulatory reporting n Significantly shortens the financial reporting cycle time n Reduces corporate risk and liability while improving regulatory compliance n Provides visibility, control, and proactive notification of issues n Ensures sustainability, control, and process optimization through embedded workflow n Ensures consistency of quantitative and qualitative content across disclosures n Ensures data integrity and process control through role based security n Enables real-time collaboration with on-line and offline edits, reviews, and certifications n Satisfies regulatory filing mandates and standardizes complex financial reporting tasks with embedded XBRL functionality n Maximizes re-use of prior period documents and XBRL tags through roll-forward n Enables outputs in multiple electronic formats
  • 2. Longview FXR Based on a single repository of accurate information from across the organization, Longview FXR is a centralized financial reporting solution with embedded support for XBRL tagging and document creation that streamlines financial report preparation and publishing to internal stakeholders and external regulatory authorities. Data Preparation – Rounding and Scaling Longview FXR helps to easily create a regulatory filing area and provides an easy to use interface for rounding and scaling of the relevant data; thereby simplifying data preparation needed to support the statutory filing of financial reports. Longview FXR ! " ! " ! $ " $ ! " " $ ! " $ ! " 2 Footnote Manager Longview FXR automates the creation, approval, routing, management and storage of footnote disclosures, ensuring accurate and efficient footnote generation. It also delivers a system of record to unify close tasks and internal controls associated with footnote disclosures, minimizing restatements due to error. Disclosure Index Longview FXR provides a comprehensive summary of all critical period-end documents. Each disclosure item includes a status indicator for relevant close tasks, internal controls and management approval. Distributed Document Management Framework Longview FXR offers advanced document management features intended to save your financial reporting team time and money, including the ability to: n Create roll-forward report templates from previous periods n Capture "snapshots" using document versioning n Allow multiple stakeholders to work on the same document at once with document segmentation n Leverage MS Word for collaboration and red-lining n Format disclosures in XBRL, MS Word and “Edgar ready” documents n Export financial data from disclosures n Automate the creation of 10-K, 10-Q and 20-F reports
  • 3. Embedded XBRL Tagging Longview FXR streamlines your reporting process with embedded XBRL tagging that, unlike bolt-on XBRL tagging products, allows you to tag financial data once and output financial statements as often as required. Leverage Existing Taxonomies User-friendly features ensure easy selection and tagging of content, tagging from existing taxonomies and fill-in additional tag information. Intuitive reporting and export features also help to view, validate, export and preview tagged documents ensuring accuracy. Cross-Check and SEC XBRL Compliance The cross-check feature ensures that quantitative and qualitative content is consistent across disclosures. Also, Longview FXR automates tasks in the final steps of SEC document preparation, reducing errors and delays, and enables efficient collaboration across contributing groups such as internal audit, general counsel, investor relations and external auditors. www.longview.com ! " One-Button Financial Statement Publisher Longview FXR automatically generates XBRL compliant disclosures, producing draft 10-Ks, 10-Qs, audit committee books and internal management reports in a variety of output formats. Process Management and Workflow Longview FXR provides a comprehensive set of internal controls, reducing urgent interruptions and streamlining workload spikes. It also significantly reduces the possibility of error with built-in version control and offers the ability to segregate duties including review and approval tasks. Adding workflow to the build process streamlines and improves collaboration and control over the process of gathering input and feedback from multiple stakeholders. Adding workflow to the review process ensures that the action plans are monitored and executed on a timely basis by the appropriate stakeholders. Audit Trail Longview FXR helps compare any two versions of a document to identify changes easily and provides a detailed audit trail from the pre-consolidated close process forward. Leverage XBRL as a Competitive Tool Longview FXR provides quick visibility into the progress of the period-end close and compliance testing processes. It helps manage and track period-end close tasks with visibility of associated dependencies, issues and related control testing. Beyond being a compliance requirement, XBRL can thus become a competitive financial tool; improving management visibility and control into critical financial processes. ! " " # $ 3 ! " " " #
  • 4. 11/2012 About Longview Solutions Longview Solutions provides a corporate performance management (CPM) and tax data management platform that leading companies such as Aon, Brunswick, Lexmark, The Home Depot and Trustmark use to drive performance with speed, visibility and financial integrity. Since 1994, Longview has been helping clients create a single repository of financial truth from which all, or any one of the following key financial processes can be performed: financial planning, budgeting, forecasting, modeling, disclosure management/XBRL reporting, statutory consolidation, management reporting, profitability analytics, tax data collection, tax provision/reporting and tax planning. Longview is headquartered in Toronto, Canada with additional offices in Philadelphia, Chicago (USA), London (UK), and Amsterdam (NL). For more information please visit www.longview.com. Division Headquarters US Headquarters UK Headquarters Netherlands Headquarters 65 Allstate Parkway, Suite 200 Markham, ON • L3R 9X1 • Canada 2 Radnor Corporate Center 100 Matsonford Road, Suite 230 Radnor, PA • 19087 • USA Nexus House, Station Road, Egham, Surrey TW20 9LB• UK WTC The Hague, 16th floor Prinses Margrietplantsoen 46, 2595 BR The Hague, The Netherlands Tel 905.940.1510 Tel 610.977.0995 Tel 905.940.1510 Tel +31 (0)854884 783 Fax 905.940.8310 Fax 484.367.1153 Fax 905.940.8310 Fax +31 (0) 854884 782 Email info@longview.com Email info@longview.com Email info@longview.com Email info@longview.com © Copyright 2012 Longview Solutions. All rights reserved.