Statement of Cash Flow Rounding
Automate the rounding of your financial statements to help streamline the preparation of your cash flows.
Rounding is arguably one of the most complex nuisances in the statement of cash flows process. This representative example shows how rounding can be automated with added controls and validations to help your organization quickly complete your statement of cash flows before distributing to downstream stakeholders such as your CFO or investors.
- Formula-based automation
- Data collection
Frequently Asked Questions
What are best practices to implement this template for my company?
The cash flow rounding template will not be one-size-fits-all. Most organizations have a defined methodology for rounding that should be utilized when creating your rounding template. Instead, this template should be used as a representative example of how the Workiva platform is used to manage and automate rounding methodologies. This click-through example can show you how you can manage and automate rounding after assembling your financial statements.
Can I start using this template today or what changes do I need to make to make it work for my company?
Yes, this template was designed to be a click-through example for your use immediately after download. We recommend consulting with your Customer Service Manager (CSM) or your Account Owner if you would like to customize and automate your cash flow rounding to meet your organization's needs.
What are the benefits of implementing an automate rounding process?
Automation reduces the likelihood of risk and control breakdowns in your cash flow and other financial statement processes. Managing and building these processes in Workiva's Connected Reporting Platform enables teams to drive consistency and continuity across the organization when assembling and analyzing your core financial data.