This free Excel checklist sets out the tasks for closing a group of companies at a 31 December year-end under IFRS, from six weeks before to eight weeks after. Each task has an owner, a company, the evidence to keep and a due date that follows the year-end date you enter. A progress sheet shows the percentage done by week and by owner.
| Week | Task | Owner | Evidence |
|---|---|---|---|
| Week 1 before | Complete the intercompany pairs reconciliation and clear the differences | Group controller | Reconciliation with no open differences |
| Week 1 after | Receive signed intercompany balance confirmations from both sides of every pair | Group controller | Signed confirmations, filed by pair |
| Week 4 after | Eliminate intercompany balances, sales, purchases and unrealised profit in stock | Group controller | Elimination journals with support |
Group controllers and finance heads closing a group of companies at a December year-end, and the accountants who work for them. The order follows the five-day group close scaled up to a year. The IFRS references suit most groups; where a group follows US GAAP the order is much the same and the matching topics apply. When the same year-end repeats every year, Finconsol’s close controls keep the steps and the lock in one place.
Yes. Enter the year-end date and every due date moves with it.
No. It skips weekends only. Check the dates around the end of December and the start of January.
It covers the tasks most groups share. Add your own for local requirements, lenders and auditors.
The file uses standard formulas and opens in Excel, LibreOffice and Google Sheets.
Thirty minutes, on a group shaped like yours.
