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Although much has been written regarding the factors critical to successful integration after a merger or acquisition, very little research has focused on the particulars of integrating the finance and accounting functions of the companies involved. As with overall business integration, detailed planning, effective communication, and speed of execution are critical. The authors recommend a seven-step process that will help balance the needs of the business during an acquisition as well as ensure financial controls are established. The overall steps provide the key activities to be accomplished and provide specific and explicit guidance. This seven-step process includes: 1. Begin planning, creation of timeline, and benchmarking. 2. Evaluate personnel in finance and accounting functions. 3. Safeguard the assets of the business. 4. Ensure adequacy of financial controls. 5. Review information technology systems. 6. Integrate financial and management accounting. 7. Assess progress, and perform post-integration analysis.



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