Fast Closing Month-End & Year-End Accounts

Training course overview

We are living in a world that is in a state of rapid change. After the global financial crisis of 2008 and various large corporate collapses, the financial world is demanding good quality financial information delivered in a timely manner. Financial reporting is becoming ever more detailed, and decision makers require this information more quickly than ever. Those companies that produce accurate financial information quickly will have a distinct advantage over their competitors, in that the markets will have greater confidence not only in their financial reporting systems generally but also their general corporate governance. Quicker internal financial information also leads to the ability to make swifter management decisions, which can be vital to businesses that operate in fast moving environments. As if these advantages are not enough producing the month end and financial information more quickly can save costs and frees up management and financial professionals time to concentrate on other value added activities for the organisation. 

What are the goals?

By the end of this Coventry Academy Training Course, participants will be able to:

• Examine Fast Close Processes, Strategies and Best Practices
• Consider Organisational 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

Who is this training course for?

This Coventry Academy Training Course is suitable for:  

• Any Professional Involved in the Preparation of Financial Statements, Including Financial Controllers, Finance Managers, Senior Accountants, Management Accountants, General Ledger Accountants and Assistant Accountants, and Accounts Receivable and Accounts Payable Accountants and Assistant Accountants
• Operational Professionals Acting Upon the Financial Decisions of Others, Who Will Gain an Appreciation of the Fast Close Process
• Financial Systems Analysts
• Professionals Who are Held Accountable for Financial Performance and the Integrity of Financial and Information Systems

Course Outline

Among a range of valuable topics, the following will be given high priority:

• Examining the Pre-Close and Fast-Close Processes
• Identifying Stakeholders and Their Requirements
• Identifying Potential Roadblocks
• Best Practices in Attaining Fast-Close, Soft-Close and Virtual-Close
• Optimising Charts of Accounts and Journal Entry Requirements
• Standardisation, Customisation and Centralisation
• Project Management and Dealing with Change
• Monitoring Performance using Key Performance Indicators (KPIs)
• Redesigning the Closing Cycle
• Compliance with Regulations and Accounting Standards

The certificate

• Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course