Fast Closing Monthly and Year-End Accounts

Course Info

Length: 1 Week

Type: Online

Available Dates

Fees

  • Jan-27-2025

    1,735

  • Feb-24-2025

    1,735

  • Mar-24-2025

    1,735

  • Apr-28-2025

    1,735

  • May-26-2025

    1,735

  • June-30-2025

    1,735

  • July-28-2025

    1,735

  • Aug-25-2025

    1,735

  • Sep-29-2025

    1,735

  • Oct-27-2025

    1,735

  • Nov-24-2025

    1,735

  • Dec-29-2025

    1,735

Course Details

Course Outline

5 days course

Introduction to Fast Close Concepts

 

  • Fast Closing Defined
  • Importance and Benefits of Fast Close
  •  Hard, Soft and Virtual Close
  • Elements of Soft Close
  •  Vision of Finance and Accounting Function
  •  Activities and Purposes of Finance and Accounting
  • The Finance Function as an Added Value
The Finance Function as an Added Value
 
  • Usefulness of Financial Information
  • Defining the Finance Function Stakeholders
  • Disconnect between Finance and Internal Users
  • Tools to Identify Needs Assessment and Report User Satisfaction
  • 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
Planning the Fast Close Process

 

  • Setting Up a Plan for a Fast Close
  • Pre-Close Process and Activities
  • Implementing the Plan and Staying in Control
  • Finance Process Redesign Tools and Techniques
  • Cost/Cycle Time Charts
  • Process Maps and Value Analysis
  • Identifying Process Bottlenecks
  • Organizing Fast Close Resources Needed
  • Shifting Close Activities
  • Selecting Key Performance Indicators (KPIs)
  • Continuous Improvements in Closing Process
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
  • Administration and Reporting Process ( The General Ledger – Budgeting - Fixed Assets- Financial  Reporting)
Applying Best Practices in the Close Process

 

  • Enhancing  the Operating Cycle

  • Procurement and Disbursement Process

    • Accounts Payable

    • Travel and Entertainment

    • Inventory

    • Payroll

    • Costing

    • Commissions

Course Video