FAST CLOSING MONTHLY AND YEAR- END ACCOUNTS

Transcription

1 2014 FAST CLOSING MONTHLY AND YEAR- END ACCOUNTS

2 Fast Closing Monthly and Year-End Accounts 1 Overview By attending this course you will develop an in-depth understanding of fast close processes, policies and systems and how to improve your current close processes and systems to achieve world class fast close goals. You will improve data quality and free up your finance staff to focus on activities that add greater value to your organization, such as business partnering, focusing on business forecasting and budgeting and participating in new project initiatives. The course is comprehensive across the whole supply chain of information needed to achieve consolidated financial results. It will cover both fast close principles applied to the closure of your company s local ledgers as well as the process of consolidation across the multiple companies making up your group. You will also cover the appropriate best practices in quality control in recording transactions in the subsidiary, closing the books monthly and performing the group wide consolidation. Furthermore, the course will include skill building that will allow you to identify necessary improvements and measure resource needs and time lines for components of a closing process across the total information supply chain. Who Should Attend This course is designed for those involved in finance, accounting, financial control, finance and information systems, financial accounting, administration, financial consolidation and external reporting. Course Outcomes By the end of the workshop, participants will be able to: Appreciate the importance of fast closing on company-wide operations. Develop closing processes and document how-to tasks. Improve understanding of departmental requirements for financial reporting. Provide faster and more accurate data for monthly and year-end closing. Enhance communication with internal and external clients. Our Approach The course will be structured around case studies, practical examples and exercises.

3 Fast Closing Monthly and Year-End Accounts 2 Course Content: Closing Effectiveness and Efficiency Hard, Soft and Virtual Close Importance and Benefits of Fast Close Enhanced Quality of Financial Information Defining the Finance Function Stakeholders Disconnect Between Finance and Internal Users Tools to Identify Needs Assessment and Report User Satisfaction The Paradigm Shift Tool to Identify the Need for a Redesign Reasons for Process Redesign Three Steps to Carry On Process Improvement and Finance Function Redesign Comprehensive Review of Current Close Processes and Activities Process Improvement Techniques o Cost/Cycle Time Charts o Process Maps and Value Analysis Identifying Process Bottlenecks Monthly and Annual Close Requirements Setting Up a Plan for a Fast Close Pre-Close Process and Activities Organizing Fast Close Resources Needed Shifting Close Activities Implementing the Plan and Staying in Control Selecting Key Performance Indicators (KPIs) Monitoring and Documentation Continuous Improvements in Closing Process Enhancing the Operating Cycle Procurement and Disbursement Process o Accounts Payable o Inventory o Payroll o Travel and Entertainment

4 Fast Closing Monthly and Year-End Accounts 3 o Commissions Billing and Collection Process o Accounts Receivable and Billing o Collections and Cash Management Administration and Reporting Process o The General Ledger o Budgeting o Financial Statements o Fixed Assets Elements of the Close Reporting Package Training Techniques : Presentation. Discussions. Exercises. Case Studies. Language of Instruction Unless otherwise stated the program instruction is in Standard Day-to-Day English. Participants can request the instructor to provide a program vocabulary which will ensure they have no problem understanding the content and can be facilitated a little bit by using Arabic language when necessary. Duration: 5 Days

5 Fast Closing Monthly and Year-End Accounts 4 Registration: Date: 18 May, 2014 Venue: Parkroyal Hotel, Kuala Lumpur, Malaysia Duration: 5 Days Total Training Hours: 25 Hrs Registration Fees: OMR 1450 Fees Include: Airport Transfer Coffee Breaks & Lunch Training Materials ( Soft & Hard Copies ) Course Certificate