FI2224 Feb - 07 MarDubai$6750Register

Each session in this training program focuses on helping you achieve effectiveness and accuracy in fast closing monthly and year-end accounts. The training program outline is up to date and pertinent to marketplace requirements, thus catering well to all analytical prediction of training needs in the specified area. A customised proposal can also be arranged, to suit the training requirement of your team.

Course Objectives

By the end of this fast closing monthly and year-end accounts training 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

Course Outline

Module I

• 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

Module II
• 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
• Tool to Identify the Need for a Redesign
• Reasons for Process Redesign

Module III
• 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

Module IV
• 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

Module V
• Billing 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

Who Should Attend?

Accountants, finance managers, financial controllers, management accountants, general ledger accountants, accounts receivable and accounts payable accountants, senior accountants, and assistant accountants.

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.

Course Testimonials

Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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