One Controller’s 10-Step Process for Preparing Financial Statements

While financial statements are customarily prepared on a quarterly, biannual or annual basis, many controllers prepare financial statements all year long. “I prepare financial statements monthly for each of the companies I oversee,” says Michael L. Rainville, controller at Plan B LLC, Plan C, LLC, & Lansdowne Pub MS LLC (Uncasville, CT). “I go through a very formal closing process monthly that includes a checklist of monthly account analyses that are prepared, as well as an audit of selected…