Fast Closing Month-End and Year-End Accounts

Fast Closing Month-End and Year-End Accounts


Choose from the following table the course date which you would like to attend the course on :

Sart
End
Fees
Venue
Length
4-Mar-2018
8-Mar-2018
4700$
Kuala Lumpur (Malaysia)
One Week
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18-Mar-2018
22-Mar-2018
5700$
London (UK)
One Week
Click Here
1-Apr-2018
5-Apr-2018
7500$
Istanbul (Turkey)
One Week
Click Here
1-Apr-2018
5-Apr-2018
4700$
Dubai (UAE)
One Week
Click Here
1-Apr-2018
5-Apr-2018
6950$
Paris (France)
One Week
Click Here
20-May-2018
24-May-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
13-May-2018
17-May-2018
5700$
London (UK)
One Week
Click Here
17-Jun-2018
21-Jun-2018
7500$
Istanbul (Turkey)
One Week
Click Here
24-Jun-2018
28-Jun-2018
4700$
Dubai (UAE)
One Week
Click Here
17-Jun-2018
21-Jun-2018
6950$
Paris (France)
One Week
Click Here
8-Jul-2018
12-Jul-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
1-Jul-2018
5-Jul-2018
5700$
London (UK)
One Week
Click Here
12-Aug-2018
16-Aug-2018
7500$
Istanbul (Turkey)
One Week
Click Here
19-Aug-2018
23-Aug-2018
4700$
Dubai (UAE)
One Week
Click Here
12-Aug-2018
16-Aug-2018
6950$
Paris (France)
One Week
Click Here
23-Sep-2018
28-Sep-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
23-Sep-2018
28-Sep-2018
5700$
London (UK)
One Week
Click Here
28-Oct-2018
1-Nov-2018
7500$
Istanbul (Turkey)
One Week
Click Here
14-Oct-2018
18-Oct-2018
4700$
Dubai (UAE)
One Week
Click Here
28-Oct-2018
1-Nov-2018
6950$
Paris (France)
One Week
Click Here
11-Nov-2018
15-Nov-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
18-Nov-2018
22-Nov-2018
5700$
London (UK)
One Week
Click Here
23-Dec-2018
27-Dec-2018
7500$
Istanbul (Turkey)
One Week
Click Here
2-Dec-2018
6-Dec-2018
4700$
Dubai (UAE)
One Week
Click Here
23-Dec-2018
27-Dec-2018
6950$
Paris (France)
One Week
Click Here
6-Jan-2019
10-Jan-2019
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
27-Jan-2019
31-Jan-2019
5700$
London (UK)
One Week
Click Here
17-Feb-2019
21-Feb-2019
7500$
Istanbul (Turkey)
One Week
Click Here
10-Feb-2019
14-Feb-2019
4700$
Dubai (UAE)
One Week
Click Here
17-Feb-2019
21-Feb-2019
6950$
Paris (France)
One Week
Click Here

Intorduction

This course provides an in-depth overview of the ‘Fast Close’ process, which is the ability of a modern, global organization to rapidly close the accounting books, collect, consolidate and, then publish its financial statements.

The ability of a company to produce its financial statements quicker has a variety of benefits such as being able to meet strict stock exchange regulations, being able to produce more timely information for strategic decisions, reducing costs, giving more time for review of the financial statements before they are published to reduce errors or strategic information being made available to competitors. This process is an indicator of management’s ability to execute its strategic plan in light of the availability of fast, reliable financial information, and also a proxy for good, well-implemented corporate governance.

This course will feature:

  • The different types of fast close and benefits
  • The development of the fast close process and identifying roadblocks
  • Change management and technological issues of a  fast close
  • Measuring and benchmarking the fast close process
  • Financial reporting issues including converting to IFRS and disclosure requirements

Objectives

  • Examine fast close processes, strategies and best practices
  • Consider organizational documentation policies and procedures
  • Understand the importance of fast close process on financial & operational decision-making
  • Provide faster and more accurate data for monthly and year-end account closings
  • Understand the importance of departmental requirements for financial reporting

Day One

Introduction to Fast Close Concepts

  • Different types and benefits
  • Steps needed to achieve a fast close
  • Analyzing and reviewing the current closing process
  • Redesigning the closing cycle
  • Finance function stakeholders, redesign and solutions

Day Two

Developing a Fast Close Strategy

  • Examining closing activities and requirements
  • Best practices in attaining fast close, soft close and virtual close
  • Optimizing charts of accounts and journal entry requirements
  • Organizing corporate resources to achieve fast close
  • Identifying potential roadblocks

Day Three

Managing Change and Utilizing Technology

  • Standardization, customization and centralization
  • Reviewing paradigms and the difficulties of effecting changes
  • Force Field Analysis
  • Change Management Exercises
  • Using technology to improve organizational redesign

Day Four

Operational Implementation of a Fast Close

  • Examining the pre-close and fast close processes
  • Adopting benchmark and other measurement standards
  • Key Performance Indicators (KPIs)
  • Documenting fast close processes incorporating the utilization of checklists
  • Analytical Case Study

Day Five

Financial Reporting and On-Going Improvements to the Closing Process

  • Design and implementation of controls needed for financial reporting
  • Improving the closing process and adopting improvement measurements
  • Identifying management reporting criteria
  • Summary of the programme

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