Financial Year End Closing: Procedures and Guidelines

This lecture covers the annual financial year end closing process at EPFL, including the importance of establishing the annual accounts, consolidating the school's financial situation, and complying with accounting standards. The speaker explains the principles of correctly delineating expenses, investments, and revenues, as well as the significance of consolidating accounts and managing financial engagements. The lecture also addresses the use of the online platform for invoice management, the validation process for invoices and expense reports, and the management of credit card transactions. Additionally, it provides insights into inventory management, stock declaration requirements, and the control of auxiliary accounts. The speaker emphasizes the need for timely validation of invoices, the management of transitional accounts, and the importance of accurate financial reporting for decision-making purposes.