The Definitive Guide to Business Finance: What smart managers do with the numbers, Second Edition

Hard questions to ask about your finance department

How does your finance department score? More than one or two no’s are cause for concern.

1	Are monthly figures available within a day or two of month end?
2	Are quarterly figures available within about 10 days of the end of the quarter?
3	Are your financials stable (i.e. rarely revised or restated)?
4	Do you get clear answers quickly when you query any figures?
5	Can you find out easily if a payment has been made or received?
6	Is inventory trim?
7	Are receivables collected quickly?
8	Are bad debts small?
9	Do you receive clear internal notification when payments are received?
10	Can you say that your company never paid a bill twice?
11	Are refunds processed smoothly?
12	Are finance duties properly split (e.g. are ...