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.
Quais são os objectivos?
No final deste curso de formação da Coventry Academy, os participantes serão capazes de
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
A quem se destina este curso de formação?
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
Descrição do curso
Day One: Introduction to Fast Close Concepts
Different types and benefits
Steps needed to achieve a fast close
Analysing 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
Optimising charts of accounts and journal entry requirements
Organising corporate resources to achieve fast close
Identifying potential roadblocks
Day Three: Managing Change and Utilising Technology
Standardisation, customisation and centralisation
Reviewing paradigms and the difficulties of effecting changes
Force field analysis
Change management exercises
Using technology to improve organisational re-design
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 utilisation of checklists
Analytical case study
Day Five: Financial Reporting and Ongoing 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 course
O certificado
Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course