# Finance, Accounting, and Economics - Processes Backlog

This document contains the backlog of processes to be implemented for the Finance, Accounting, and Economics specialization.

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## Financial Planning and Analysis (FP&A)

- [ ] **Annual Budget Development** - Comprehensive process for creating organization-wide annual operating budgets including departmental submissions, consolidation, executive review, and board approval. [Reference](https://www.afponline.org/)

- [ ] **Rolling Forecast Management** - Continuous forecasting methodology that extends the planning horizon each period to maintain a constant forward-looking view of financial performance. [Reference](https://corporatefinanceinstitute.com/)

- [ ] **Variance Analysis and Reporting** - Systematic analysis of budget-to-actual variances with root cause identification, trend analysis, and actionable recommendations for management. [Reference](https://www.imanet.org/)

- [ ] **Financial Modeling and Scenario Planning** - Building comprehensive financial models with sensitivity analysis, scenario planning, and Monte Carlo simulations for strategic decision support. [Reference](https://www.wallstreetprep.com/)

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## Accounting and Financial Reporting

- [ ] **Month-End Close Process** - Structured process for completing monthly financial close including transaction cutoffs, reconciliations, adjusting entries, and management reporting within defined timelines. [Reference](https://www.aicpa.org/)

- [ ] **Financial Statement Preparation** - Preparation of GAAP/IFRS-compliant financial statements including balance sheet, income statement, cash flow statement, and statement of stockholders' equity. [Reference](https://asc.fasb.org/)

- [ ] **Revenue Recognition and ASC 606 Compliance** - Implementing the five-step revenue recognition model for proper timing and amount of revenue recognition across various contract types. [Reference](https://www.fasb.org/)

- [ ] **Intercompany Accounting and Consolidation** - Managing intercompany transactions, eliminations, and consolidation of multi-entity financial results for group reporting. [Reference](https://www.ifrs.org/)

- [ ] **Lease Accounting and ASC 842 Implementation** - Proper accounting treatment for operating and finance leases including right-of-use assets and lease liabilities. [Reference](https://www.fasb.org/)

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## Audit and Compliance

- [ ] **Internal Audit Planning and Execution** - Risk-based audit planning, fieldwork execution, findings documentation, and recommendation tracking for continuous improvement. [Reference](https://www.theiia.org/)

- [ ] **SOX Compliance and Testing** - Sarbanes-Oxley Section 404 compliance including control documentation, testing, deficiency remediation, and management certification. [Reference](https://pcaobus.org/)

- [ ] **External Audit Coordination** - Managing the external audit process including PBC list preparation, interim procedures, year-end testing support, and audit committee presentations. [Reference](https://www.aicpa.org/)

- [ ] **Fraud Risk Assessment and Investigation** - Identifying fraud risk factors, implementing anti-fraud controls, and conducting investigations when fraud indicators are detected. [Reference](https://www.acfe.com/)

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## Treasury and Cash Management

- [ ] **Cash Flow Forecasting and Liquidity Management** - Daily, weekly, and monthly cash forecasting with working capital optimization and liquidity stress testing. [Reference](https://www.afponline.org/)

- [ ] **Foreign Exchange Risk Management** - Identifying FX exposures, developing hedging strategies, executing FX derivatives, and monitoring hedge effectiveness. [Reference](https://www.garp.org/)

- [ ] **Debt Facility Management and Covenant Compliance** - Managing debt agreements, monitoring covenant compliance, preparing compliance certificates, and optimizing capital structure. [Reference](https://www.treasurers.org/)

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## Investment Analysis and Valuation

- [ ] **Discounted Cash Flow (DCF) Valuation** - Building comprehensive DCF models including free cash flow projections, WACC calculation, terminal value estimation, and sensitivity analysis. [Reference](https://pages.stern.nyu.edu/~adamodar/)

- [ ] **Comparable Company Analysis** - Valuation using public company trading multiples including peer selection, metric normalization, and multiple application. [Reference](https://www.cfainstitute.org/)

- [ ] **M&A Financial Due Diligence** - Comprehensive financial analysis of acquisition targets including quality of earnings, working capital analysis, and deal structuring. [Reference](https://www.mckinsey.com/)

- [ ] **Capital Investment Appraisal** - Evaluating capital expenditure proposals using NPV, IRR, payback period, and strategic alignment criteria. [Reference](https://corporatefinanceinstitute.com/)

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## Tax Planning and Compliance

- [ ] **Income Tax Provision and ASC 740** - Calculating current and deferred tax expense, identifying permanent and temporary differences, and preparing tax provision workpapers. [Reference](https://www.fasb.org/)

- [ ] **Tax Return Preparation and Filing** - Preparing and filing federal, state, and local income tax returns with supporting schedules and documentation. [Reference](https://www.irs.gov/)

- [ ] **Transfer Pricing Documentation** - Developing and maintaining transfer pricing policies, benchmarking studies, and contemporaneous documentation for intercompany transactions. [Reference](https://www.oecd.org/tax/transfer-pricing/)

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## Economic Analysis

- [ ] **Economic Forecasting and Indicator Analysis** - Monitoring and analyzing macroeconomic indicators including GDP, inflation, employment, and interest rates for business planning. [Reference](https://fred.stlouisfed.org/)

- [ ] **Industry and Competitive Analysis** - Analyzing industry dynamics, competitive positioning, market trends, and their implications for financial planning and strategy. [Reference](https://www.spglobal.com/)

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## Summary

| Category | Process Count |
|----------|---------------|
| Financial Planning and Analysis | 4 |
| Accounting and Financial Reporting | 5 |
| Audit and Compliance | 4 |
| Treasury and Cash Management | 3 |
| Investment Analysis and Valuation | 4 |
| Tax Planning and Compliance | 3 |
| Economic Analysis | 2 |
| **Total** | **25** |

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*Last Updated: January 2026*
