Fast Closing Monthly and Year-End Accounts

Fast Closing Monthly and Year-End Accounts

Fast Closing Monthly and Year-End Accounts

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Program Objectives:
By the end of the program, participants will be able to:
  • Describe the impact of fast closing on company-wide operations.
  • Develop closing process improvement plan.
  • Identify departmental requirements for financial reporting.
  • Provide faster and more accurate data for monthly and year-end closing.
  • Enhance communication with internal and external customers.
  • Apply Best Practices and enhance the monthly closing Procedures.
Who should attend:
Accountants, finance managers, financial controllers, management accountants, general ledger accountants, accounts receivable and accounts payable accountants, senior accountants and assistant accountants.
Program Outline
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
  • Usefulness of Financial Information
  • Defining the Finance Function Stakeholders
  • Disconnect between Finance and Internal Users
  • Tools to Identify Needs Assessment and Report User Satisfaction
Redesign of the Finance Function
  • The Paradigm Shift
  • Top Information Deficiencies
  • Tools to Identify the Need for a Redesign
  • Reasons for Process Redesign
  • Three Steps to Carry on Process Improvement and Finance Function Redesign
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
Applying Best Practices in the Close Process
  • Enhancing  the Operating Cycle
  • Procurement and Disbursement Process
    • Accounts Payable
    • Travel and Entertainment
    • Inventory
    • Payroll
    • Costing
    • Commissions
  • Blling and Collection Process
    • Accounts Receivable and Billing
    • Collections and Cash Management
  • Administration and Reporting Process
    • The General Ledger
    • Budgeting
    • Fixed Assets
    • Financial  Reporting
  • Elements of the Close Reporting Package

To register for this event email your details to info@swissbusinessacademy.com

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Date And Time

2023-08-21 @ 09:00 AM to
2023-08-25 @ 02:00 PM
 

Event Category

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