Recommended Month End Process

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A good month end closing process should be established.  The following is a general check-list of actions that should be done within Agiblocks to facilitate month end closing.

 

Prepare for Month End

•Process Futures that are expiring
oPosition rolling
oPrice rolling
oCheck Futures position
•Process Options that are expiring
oCheck Options position
•Other Preparation
oCheck accruals
oCheck invoices
oCheck Market Data
oPrepare market premiums / ratio information

 

First Working Day of a New Month

1.Confirm Market data values (Market values, premium, ratio, currency)
2.Close of business transaction of futures +allocation for pricing and hedging
3.Validate Position and Mark to Market
4.Reconcile Forex
5.Reconcile Inventory
6.Move Reporting Period
7.Check for valuation and reporting periods
8.Close the previous month/period for trade (check that all values = 0)
9.Open the new period doing the following:
a.Perform a re-estimation
b.Open the new period
10.Make a Mark to Market snapshot

 

Next 1-2 Weeks

•Perform executions / logistics work for the previous period
•Reconcile outgoing invoices from the previous period with any external financial system
•Reconcile incoming invoices from the previous period with any external financial system
•Check accruals and reverse if no longer applicable

 

Fully Close the Previous Month

•When all reconciliations are done, close the previous period