This measure projects the number of days it takes to perform annual close at the site level. It is a Cycle Time measure that helps companies analyze the duration from beginning to end of the "perform general accounting and reporting" process, which consists of preparing financial statements (i.e., balance sheet, income statement, statement of cash flows, and statement of stockholders' equity) according to accounting concepts and principles.
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Cycle time in calendar days between running trial balance to completing the consolidated financial statements
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.
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.