What does Record-to-Report actually cover?

Detailed Explanation

The whole path from transactional data to published financial statements. That includes the general ledger and journal entries, reconciliations, intercompany elimination, consolidation, and the reporting and disclosure that sit at the end of it — together with the controls and approvals wrapped around each step. It is the backbone of corporate reporting because everything downstream depends on it. Management reporting, statutory accounts and regulatory filings all draw on the same ledger, so a weakness in R2R does not stay contained to one output.