SD-17.1 — Corporate Accounting & Controllership

Business Domain: BD-17 Corporate Services & Resources (Cross-cutting — corporate) · Applies: BOTH

Purpose

Keeps the management company’s own books and closes its period. SD-17.1 is the firm’s record-to-report capability: it runs the corporate general ledger, posts the corporate accounting entries, reconciles the control accounts, and operates the period close that produces a complete, signed-off trial balance. It is the controllership function — the discipline that makes the firm’s accounting records correct, complete and auditable. It is the firm keeping its own books, as distinct from keeping its clients’.

It is not the production of the statutory financial statements or the external disclosures — that is SD-16.4 Financial Reporting & Disclosure, which consumes this Service Domain’s closed ledger. And it is not fund accounting — SD-12.9 Fund Accounting & NAV keeps the operated funds’ books; SD-17.1 keeps the management company’s own. SD-17.1 keeps the books and closes the period; SD-16.4 turns the closed books into statements.

Service Operations

Maintain the corporate general ledger — operate the firm’s chart of accounts, post the corporate accounting entries, and keep the sub-ledgers (payables, receivables, fixed assets) reconciled to the ledger.
Run the period close — execute the month-end, quarter-end and year-end close: accruals, prepayments, depreciation, intercompany eliminations, and the production of the trial balance.
Reconcile and substantiate accounts — reconcile the bank, control and balance-sheet accounts, and substantiate each balance with supporting evidence for audit.
Operate the accounting control framework — maintain the controllership controls: the segregation of duties, the journal-approval workflow, the close calendar and the audit trail.
Support the external audit — provide the closed ledger, reconciliations and substantiation to the firm’s statutory auditors and resolve audit queries.

Inputs and outputs

Inputs: the firm’s revenue (including the management-fee and carry income computed by SD-12.11), the firm’s costs and payables, payroll from SD-17.6 Talent & Human Capital, the corporate banking data from SD-17.3, the corporate-tax provisions from SD-17.5.
Outputs: the corporate general ledger, the closed trial balance and the substantiated account balances — consumed by SD-16.4 Financial Reporting & Disclosure, SD-17.2 Financial Planning & Analysis, SD-17.5 Corporate Tax, SD-16.3 Regulatory Reporting & Filings and the governing bodies.

Entities

Consumes: the firm’s fee and carry income from SD-12.11; E-01 Legal Entity (the firm’s own entities); the SD-17.3 corporate banking data; the SD-17.5 corporate-tax provisions; the SD-17.6 firm’s revenue (including the management-fee and carry income computed by SD-12.11), the firm’s costs and payables, payroll.
Owns: the firm’s corporate general ledger and closed trial balance — a process artefact.

Standards

IFRS / national GAAP for the recognition and measurement of the corporate ledger.
Controllership practice — the close calendar, the journal-approval and account-reconciliation disciplines, the substantiation standard.

Open extensions

The corporate chart-of-accounts and sub-ledger sub-model.
The period-close calendar and control sub-model.
The Service-Operation-level input/output contracts with SD-16.4.