Accounting Excellence

Best possible support for the business model and strategy

Accounting has always been the basis for the provision of precise information to shareholders and partners as well as for all decisions made by management. Reliability and accuracy therefore remain the most important targets in accounting. Speed also stays important in order to provide stakeholders with up-to-date information. Therefore, a monthly financial statement that shows a complete picture of the asset, financial and earnings situation is part of the accounting basics, even if it is not usually legally required.

What is state-of-the-art? - Integration of internal and external accounting
How new technologies are driving process automation and optimization
From the individual company to group level - automation to the last mile of reporting

What is state-of-the-art? - Integration of internal and external accounting

Speed and reliability are also being improved by the long-standing trend towards integrating internal and external accounting. This development was started with the spread of IFRS. It makes reconciliations of different accounting areas redundant, corporate management follows the externally communicated goals, and so there is only "one truth". SAP's new product generation, S/4, now fully supports this concept. Not only profit center accounting, but also profitability analysis can now be generated, saved and evaluated together with pagatoric transactions.
The consistent implementation of this concept also requires the integration of the processes and organization of internal and external accounting. In this way the potential of the integrated methodology can be fully realized. In the Central European tradition of accounting, this amounts to a paradigm shift that transforms the finance function at its heart.

How new technologies are driving process automation and optimization

Accounting effort has traditionally been driven by the mapping of business transactions. Here, new technologies promise the next boost in automation. The use of increasingly intelligent robots makes this possible even in an ERP landscape that is not fully integrated. However, the biggest lever of automation continues to be the mapping of integrated end-to-end processes as modern ERP systems have long enabled. Process mining tools now provide effective assistance in analyzing weaknesses in the process. As a result, the accounting manager is evolving from a personnel manager to a process manager.

From the individual company to group level - automation up to the last mile of reporting

In Group Accounting, the integration of the accounting systems also significantly simplifies and accelerates the preparation of the consolidated financial statements. Thanks to excellent accounting processes at the individual company level, the transition to the group chart of accounts, segment reporting and the management of intercompany transactions are fully automated. Even at the Group level, internal and external reporting requirements can be satisfied from an integrated set of accounts.
The implementation of ever new accounting standards remains the responsibility of Group Accounting. Modern technologies often help to efficiently implement the inevitable.
Even the last mile of reporting can now be further automated. Disclosure management tools speed up the process, reduce the susceptibility to errors and increase transparency. The new ESEF can be fully integrated into this disclosure process in technical and organizational terms and also largely digitizes capital market communication.

Current topics

IFRS 16, ESEF, Disclosure Management, Fast Close, CSR Reporting

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IFRS 16

More than just balance sheet effects: challenges and solutions
European Single Electronic Format

EU-compliant electronic financial reporting
Disclosure Management

Optimization of collaboration, workflow, compliance and control
Fast Close

Accelerated financial statement implemented successfully
Integrated Reporting

Transparent corporate reporting creates trust
Consolidation systems

Automation of individual consolidation steps
Human Capital Reporting

Guideline for Human Capital Reporting - DIN ISO 30414

Our broschures for Accounting Excellence

IFRS 16, ESEF, Integrated Reporting, CSR-Reporting

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241 KB

IFRS 16 - More than just balance sheet effects

The application of IFRS 16 has far-reaching accounting, organizational, procedural and technical implications. We provide an overview of:

Challenges
Solutions
Standardized process model to IFRS 16

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1,8 MB

4C GROUP AG | A Guide to ESEF / European Single Electronic Format

FAQs - who is affected, what is to be done, when must one react?
Effects of ESEF regulation on processes and systems
Overview of the system providers on the market
Recommendations and solutions of the 4C GROUP
Demonstration tagging and XBRL generation using an exemplary solution

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769 KB

Integrated Reporting: Fashion trend or future of corporate reporting?

Why a paradigm shift in reporting is necessary
Integrated Reporting at a glance
Implementation of integrated reporting in practice
Benefits of Integrated Reporting

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818 KB

Study and thesis paper CSR Reporting

Motivation of the study
Experience in the implementation of CSR reporting
Summary: These are the issues that will need to be addressed

Our experts for Accounting Excellence

Get in touch with us through Xing or LinkedIn

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Stephan Grunwald

Senior Partner

stephan.grunwald∂4cgroup.com

To profile

Markus Noçon

Senior Partner

markus.nocon∂4cgroup.com

To profile

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"With the IBM platform we have created a solution with which we have integrated and automated consolidation, forecasting, planning and reporting. The 4C GROUP supported us fully from the conception to the implementation and rollout. At the same time, an internal team was set up and trained so that we are able to carry out further developments ourselves as far as possible and use Planning Analytics as our "performance hub"."

Oliver Markert, Head of Accounting / Financial Reporting / Planning / Controlling / Tax bei UTA UNION TANK Eckstein GmbH & Co. KG

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