BSR

When is the BSR due based on the Global Policy?

• Business Day 10 of the subsequent month

• Business Day 15 of the subsequent month

• Business Day 20 of the subsequent month

• Business Day 25 of the subsequent month

I am currently handling the Revenue Clearing account. I noticed that the total ending balance is 0 as of August. Do I still need to prepare a reconciliation?

• No.

• Yes.

What is the general rule on unreconciled items carried from previous month?

• There should be no unresolved reconciling items carried from prior month.

• It is okay to keep an unresolved reconciling item on the Balance Sheet Schedule as long as it is monitored.

• If there are unresolved reconciling items, these must be cleared within 60 days.

• Reconciliations must be approved by the highest-ranking Finance Leader at the property

I am currently completing the Credit Card Reconciliation for Amex. Which of the following would substantiate that the GL balance is correct?

• Daily CC details summarized through Excel

• Amex Actual Credit Card Slips

• Credit Card Aging Report

• Transaction Details generated through OnQPM

There are three SOX Controls in Financial Close & Reporting. What are those?

• Accounting management verifies financial statements interfaced from SUN / Navision G/L reconciles to US PeopleSoft (PS).

• Journal entries (JVs) are reviewed and approved by appropriate accounting personnel and management personnel.

• Balance Sheet accounts are reconciled and reviewed / approved by appropriate accounting personnel or regional leadership.

• Management reviews / updates the SOD matrix to ensure duties are adequately segregated. SOD conflicts are remediated and approved by Regional leadership.

For how long can you keep the reconciling item unresolved on the Balance Sheet Schedule? What is the maximum number of days allowed based on policy?

• 0

• 30 days

• 60 days

• 90 days