Financial Close & Period-End Control

Northgate Holdings Group | Close Period: January 2025 | Day 4 of 8 TRACKING 9-10 DAYS
North-Star Target
6.0 days
Current Avg: 8.4 days
Overall Task Completion
61%
-7% vs. Plan
JE Backlog Rate
18%
+12% vs. Normal
143 unposted of 798 total
IC Out-of-Balance
$487K
Timing difference
Target: <$50K
Unrec. Accounts
23
-5 vs. Yesterday
of 1,247 GL accounts
BS Substantiation
94%
+2% vs. D3
Target: 97%+
Audit-Ready Accounts
1,168
+47 today
of 1,247 total

Close Task Burndown vs. Plan

Journal Entry Backlog by Entity

Accrual Aging Distribution

Intercompany Elimination Matrix ($K)

Parent
US OpCo
EU SubCo
APAC Ltd
LATAM SA
Parent
—
+0
-124
+12
-8
US OpCo
+0
—
+363
-19
+5
EU SubCo
+124
-363
—
+7
-2
APAC Ltd
-12
+19
-7
—
+0
LATAM SA
+8
-5
+2
+0
—
Balanced (<$50K)
Review ($50-200K)
Critical (>$200K)
⚠ US/EU variance $487K: Timing difference from payroll system migration cutover

Consolidation Adjustment Volume

Tax Provision Variance vs. Prior Estimate

Current Tax $12.4M
-3%
Prior: $12.8M
Deferred Tax $3.7M
+6%
Prior: $3.5M
Effective Tax Rate 24.1%
-0.3pp
Prior: 24.4%
Variance Driver
R&D credit true-up (+$1.2M) offset by state tax adjustment (-$0.8M)

Prepaid Amort. Accuracy

98.2%
847 of 863 schedules current
Insurance 100%
Software licenses 97%
Rent 99%
Other 96%

Close Blockers (Active)

7
EU payroll JE recreation
140 entries, 2d behind
IC timing reconciliation
$487K variance
APAC fixed asset reclass
Pending approval
Parent cash flow stmt
Awaiting JE close

Entity Close Status

Parent
ON TRACK
US OpCo
ON TRACK
EU SubCo
2D BEHIND
APAC Ltd
1D BEHIND
LATAM SA
ON TRACK
Average Day 4.4

Close Task Detail (Top 12 Critical Path)

Task Entity Owner Plan Day Actual Day Status Progress
Post accruals & deferrals EU SubCo M. Schneider 2 4 BLOCKED
Complete IC reconciliations US OpCo K. Johnson 3 4 IN PROGRESS
Bank reconciliations Parent A. Williams 2 2 COMPLETE
Fixed asset depreciation APAC Ltd L. Chen 2 3 IN PROGRESS
Inventory valuation US OpCo R. Patel 3 3 COMPLETE
AR aging & reserves LATAM SA C. Rodriguez 3 3 COMPLETE
Tax provision calculation Parent D. Martinez 5 — SCHEDULED
Consolidation entries Parent J. Thompson 6 — SCHEDULED
Prepaid amortization US OpCo S. Lee 2 2 COMPLETE
Revenue recognition review EU SubCo T. Anderson 4 4 IN PROGRESS
Cash flow statement Parent B. Davis 7 — PENDING JEs
Financial statement review Parent CFO 8 — SCHEDULED

Critical Risks & Mitigations

EU SubCo JE Backlog
140 JEs require manual recreation from legacy payroll system. Est. 2-day delay if unresolved by EOD Day 5.
Mitigation: Added 2 temp accountants; working extended hours D4-D5
IC Out-of-Balance
$487K variance on US/EU IC trade. Root cause: cutover timing on payroll caused invoice posting delay.
Mitigation: Manual adjustment entry prepared; CFO approval pending

Close Performance Trend (Last 6 Months)

Avg Close
8.4d
Best Close
7.0d
Target
6.0d