Cycle time in days to complete the monthly consolidated financial statements

This measure calculates the number of calendar days (including weekends) that elapse between running the initial monthly business entity trial balance and completing the agreed-upon monthly business entity consolidated financial statements. Consolidated financial statements are combined financial reports for all of a single legal entity's business units for reporting purposes. This measure is part of a set of Cycle Time measures that help companies analyze the duration of the "perform financial reporting" process from beginning to end.

Benchmark Data

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Measure Category:
Cycle Time
Measure Id:
100162
Total Sample Size:
4,938 All Companies
Performers:
25th
Median
75th
Key Performance
Indicator:
Yes

Compute this Measure

Units for this measure are days.

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Cycle time in days to complete the monthly consolidated financial statements

Key Terms

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Cycle Time

Cycle time is the total time from the beginning of the process to the end. This includes both time spent actually performing the process and time spent waiting to move forward.

Median

The metric value which represents the 50th percentile of a peer group. This could also be communicated as the metric value where half of the peer group sample shows lower performance than the expressed metric value or half of the peer group sample shows higher performance than the expressed metric value.

Measure Scope

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Cross Industry (7.3.0)

  • 9.3.4.1 - Prepare business unit financial statements (10837)
  • 9.3.4.2 - Prepare consolidated financial statements (10838)
  • 9.3.4.3 - Perform business unit reporting/review management reports (10839)
  • 9.3.4.4 - Perform consolidated reporting/review of cost management reports (10840)
  • 9.3.4.5 - Prepare statements for board review (10841)
  • 9.3.4.6 - Produce quarterly/annual filings and shareholder reports (10842)
  • 9.3.4.7 - Produce regulatory reports (10843)
  • 9.3.4.8 - Perform legal and management consolidation (14074)