* All fees are exclusive of vat ** PREMIUM - Customize your learning experience
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. This process is widely viewed not only as an indicator of management’s ability to execute its strategic plan in light of the availability of fast, reliable financial information, but also a proxy for good, well-implemented corporate governance.
What Do Participants Learn?
Understand the importance of the fast close process on financial and operational decision-making within an organization
Examine fast close processes, strategies, and best practices as well as consideration of organizational documentation policies and procedures
Understand the importance of departmental requirements for financial reporting as well as the need for on-going improvements to the closing process
Provide faster and more accurate data for monthly and year-end account closings with the goal of enhancing communication with internal and external financial statement users
Who Should Attend?
Financial officers and planners
Anyone interested and wanted to develop his performance in finance
What Will the Learning Experience Include?
Comprehensive pre-program activities include:
Web-based information forms & surveys completed by attendee.
Direct consultation with the attendee about the expectations.
During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
Participants learn from expert trainers who have both academic and business experiences.
Highly applicable training content & instructive activities for adding depth to training topics.
**A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.
Explore & Practice
Apply & sustain the learning experience by using this ongoing support:
To ensure participant has new skills or behavior progress.
Optional, fee-based mentoring & coaching with the trainer.
Training materials & additional documents (e-books, pdf files, presentations and articles)
Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
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
Examining needs of stakeholders
The scope of problems for organizations
Process improvement practices
Process redesigns tools and techniques
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
Managing Change and Utilizing Technology in Redesigning and Monitoring the Finance Function
Standardization, customization, and centralization
Reviewing paradigms and the difficulties of effecting changes
Using technology to improve organizational redesign
Operational Implementation of a Fast Close
Examining the pre-close and fast close processes
Adopting benchmark and other measurement standards, including key performance indicators
Documenting fast close processes incorporating the utilization of checklists
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