Finance Manager/Accountant Questions for BigLedger

Background Profile

Professional accountant (ACCA/MICPA/CPA) with 5-10 years experience managing financial operations for Malaysian companies. Responsible for month-end close, statutory compliance, cash flow management, and providing strategic financial insights to management.

1. Month-End Close and Financial Reporting

Process Optimization Questions

• “Our month-end close currently takes 10 days. How can BigLedger help us achieve a 5-day close target? What specific automation features reduce manual posting time?”
• “We struggle with inter-company eliminations across our 5 subsidiaries. How does BigLedger handle automatic elimination entries and ensure consolidation accuracy?”
• “What automated journal entry templates can we set up for recurring month-end accruals like utilities, salaries, and depreciation?”
• “How can I implement a multi-level approval workflow where department heads review allocations before the finance team posts final entries?”

Foreign Exchange and Controls

• “We have USD, SGD, and EUR transactions. How does BigLedger handle automatic month-end FX revaluation for balance sheet items?”
• “What controls prevent staff from posting entries to closed periods? Can we set up automatic period locks after the 10th of each month?”
• “How do we ensure all manual journal entries have proper supporting documentation attached before approval?”

2. Statutory Compliance and Reporting

Malaysian Regulatory Compliance

• “How does BigLedger generate MFRS-compliant financial statements? Can it automatically format notes to the accounts according to Companies Act 2016 requirements?”
• “We need to submit SST returns monthly to RMCD. How does the system track input tax claims and ensure proper SST-03 form completion?”
• “For corporate tax Form C preparation, how does BigLedger handle tax adjustments and maintain the link between book and tax depreciation?”
• “With MyInvois e-invoicing becoming mandatory, how does BigLedger integrate with LHDN’s API for real-time invoice validation?”

Documentation and Audit Trail

• “For Companies Commission annual returns, what reports help us complete Form 24, 44, and 49? How do we extract required shareholding and director information?”
• “When LHDN conducts tax audits, what documentation trails does BigLedger maintain for expense claims, transfer pricing, and thin cap calculations?”
• “How can we ensure our chart of accounts mapping complies with Bank Negara’s sectoral requirements for our manufacturing business?”

3. Cash Flow Management and Banking

Banking Operations

• “We have accounts with Maybank, CIMB, and Public Bank. How does BigLedger automate bank reconciliation and handle outstanding items aging?”
• “Our daily cash position changes rapidly. How can we set up real-time cash flow forecasting that updates with every transaction?”
• “For supplier payments, how do we implement approval limits where payments above RM50,000 require two signatures?”

Working Capital Optimization

• “How does BigLedger help optimize our payment timing to suppliers while maintaining good relationships? Can it suggest optimal payment dates?”
• “We hedge our USD exposure monthly. How does the system track hedge effectiveness and mark-to-market fair value adjustments?”
• “What controls prevent duplicate payments when processing through different payment runs or manual payments?”

4. Budgeting and Variance Analysis

Budget Planning Process

• “How do we create rolling 18-month forecasts where department heads can input their projections directly into the system?”
• “Can BigLedger support driver-based budgeting where we budget based on sales volume, headcount, and production capacity?”
• “Our monthly variance reports need to show not just variances but also forecast-to-actual for the full year. How do we automate this analysis?”

Approval Workflows

• “When departments request budget revisions mid-year, how do we route approvals through GM, CFO, and board level based on materiality thresholds?”
• “How does BigLedger consolidate budgets across our 3 business units and eliminate inter-company budget transactions?”
• “Can we implement zero-based budgeting where each department justifies every line item annually?”

5. Cost Accounting and Profitability Analysis

Product Costing

• “We manufacture 200+ SKUs. How does BigLedger implement activity-based costing to accurately allocate overhead costs like machine setup, quality control, and packaging?”
• “How can we analyze profitability by customer segment, considering not just gross margin but also sales commissions, delivery costs, and credit terms?”
• “For transfer pricing between our Malaysian and Singapore entities, how do we document cost-plus margins and benchmark against comparable transactions?”

Manufacturing Costs

• “How does BigLedger handle work-in-progress valuation using standard costs with variance analysis for material, labor, and overhead?”
• “Our production runs vary monthly. How do we allocate fixed overhead costs and handle volume variances in our cost accounting?”
• “Can the system track actual vs. standard costs by production batch and highlight significant variances for investigation?”

6. Internal Controls and Risk Management

Segregation of Duties

• “How do we ensure the person who creates purchase orders cannot approve invoices or process payments for the same vendor?”
• “What automated controls flag expense claims that exceed policy limits or lack proper supporting documents?”
• “How does BigLedger maintain audit trails showing who posted, approved, and modified each financial transaction?”

Fraud Prevention

• “What controls detect potential duplicate vendor setups using similar names, addresses, or bank account numbers?”
• “How can we implement three-way matching (PO, receipt, invoice) with tolerance limits for price and quantity variances?”
• “What reports help us identify unusual transactions, like after-hours postings, weekend approvals, or transactions by terminated employees?”

7. Management Reporting and Analytics

Executive Dashboards

• “How do we create real-time executive dashboards showing cash position, AR aging, key ratios, and monthly performance against budget?”
• “Can BigLedger provide segment reporting that shows revenue, gross margin, and EBITDA by business unit with drill-down capability?”
• “How do we automate variance explanations where the system suggests reasons for budget deviations based on transaction patterns?”

Financial Analysis

• “What tools help us perform ratio analysis (liquidity, leverage, profitability) with industry benchmarking and trend analysis?”
• “How can we integrate external data like exchange rates, commodity prices, and industry indices for enhanced financial modeling?”
• “Can the system generate management commentary templates that highlight key financial metrics and business drivers?”

8. Accounts Receivable and Credit Management

Collection Optimization

• “Our DSO is 45 days. How does BigLedger automate dunning processes and prioritize collection efforts based on customer risk profiles?”
• “How do we implement dynamic credit limits that adjust based on payment history, financial statements, and credit bureau reports?”
• “What analytics help us identify customers likely to become bad debts before they exceed credit limits?”

Customer Analysis

• “How can we analyze customer payment patterns to negotiate better terms with consistently late payers?”
• “For our factoring arrangement with RHB Bank, how does BigLedger integrate to transfer approved invoices automatically?”
• “What reports help us provision for doubtful debts using aging analysis and historical collection data?”

9. Accounts Payable and Vendor Management

Payment Optimization

• “How does BigLedger optimize early payment discounts? Can it calculate the annualized return vs. our cost of borrowing?”
• “What controls ensure three-way matching is complete before payments are processed, including goods receipt and invoice approval?”
• “How do we handle recurring payments like rent, insurance, and service contracts with automatic approval up to contract amounts?”

Vendor Performance

• “Can we analyze vendor performance based on delivery times, quality metrics, and pricing trends to support procurement decisions?”
• “How does the system handle purchase order accruals at month-end for goods received but not yet invoiced?”
• “What reports identify vendors with duplicate tax ID numbers or similar banking details to prevent vendor fraud?”

10. Fixed Assets and Depreciation

Asset Management

• “How does BigLedger handle multiple depreciation methods - straight-line for books, declining balance for tax, and units of production for management?”
• “Can we track asset additions, disposals, and transfers between cost centers with proper authorization and documentation?”
• “For impairment testing under MFRS 136, how do we document value-in-use calculations and fair value assessments?”

Leasing Compliance

• “With MFRS 16 lease accounting, how does BigLedger calculate right-of-use assets and lease liabilities for our office and warehouse leases?”
• “How do we handle lease modifications and reassessments when rental rates change or lease terms are extended?”
• “Can the system integrate with our asset maintenance schedule to optimize CAPEX planning based on equipment lifecycle?”

11. Audit Preparation and External Reporting

Audit Efficiency

• “How can BigLedger generate trial balances, lead schedules, and supporting details that auditors can access directly?”
• “What tools help us prepare audit confirmations for banks, customers, and suppliers automatically?”
• “How do we track audit findings and management responses with follow-up reminders and implementation deadlines?”

Documentation Management

• “Can the system maintain version control for financial statements and ensure consistency between management accounts and audited financials?”
• “How do we organize supporting documentation (contracts, invoices, agreements) for easy auditor access without compromising security?”
• “What reports help us reconcile differences between our books and audited adjustments for learning and process improvement?”

Key Integration and Technology Questions

System Performance

• “How does BigLedger handle our transaction volume of 10,000+ entries monthly without performance degradation?”
• “What disaster recovery and backup procedures protect our financial data, and how quickly can we restore operations?”
• “How does the system integrate with our existing ERP, CRM, and payroll systems to eliminate duplicate data entry?”

Regulatory Updates

• “How does BigLedger stay current with changes in Malaysian tax laws, MFRS updates, and regulatory requirements?”
• “What training and support help our team adapt to new features and regulatory changes?”
• “How can we customize reports to meet specific industry requirements for our manufacturing business?”

Business Impact Focus Areas

Each question should address:

• Process Efficiency: Reducing manual work and processing time
• Regulatory Compliance: Meeting Malaysian statutory requirements
• Risk Management: Implementing proper controls and audit trails
• Strategic Insights: Providing actionable financial intelligence
• Cost Optimization: Improving working capital and operational efficiency

These questions reflect real-world challenges faced by finance professionals in Malaysian companies and focus on practical solutions that BigLedger can provide to improve financial operations and compliance.