Fast Closing Monthly and Year-End Accounts

Course Info

Length: 1 Week

City: Kuala Lumpur

Type: In Classroom

Available Dates

  • Mar-18-2024

    Kuala Lumpur

  • Apr-15-2024

    Kuala Lumpur

  • May-20-2024

    Kuala Lumpur

  • June-17-2024

    Kuala Lumpur

  • July-15-2024

    Kuala Lumpur

  • Aug-19-2024

    Kuala Lumpur

  • Sep-16-2024

    Kuala Lumpur

  • Oct-21-2024

    Kuala Lumpur

  • Nov-18-2024

    Kuala Lumpur

  • Dec-16-2024

    Kuala Lumpur

Dates in Other Venues

  • Mar-11-2024

    Amsterdam

  • Mar-11-2024

    London

  • Mar-18-2024

    Istanbul

  • Mar-25-2024

    Singapore

  • Mar-25-2024

    Paris

  • Apr-01-2024

    Dubai

  • Apr-01-2024

    Barcelona

  • Apr-08-2024

    Amsterdam

  • Apr-08-2024

    London

  • Apr-15-2024

    Istanbul

  • Apr-22-2024

    Singapore

  • Apr-22-2024

    Barcelona

  • Apr-29-2024

    Dubai

  • Apr-29-2024

    Paris

  • May-06-2024

    Dubai

  • May-06-2024

    Barcelona

  • May-13-2024

    London

  • May-13-2024

    Amsterdam

  • May-20-2024

    Istanbul

  • May-27-2024

    Paris

  • May-27-2024

    Singapore

  • June-03-2024

    Dubai

  • June-03-2024

    Barcelona

  • June-10-2024

    London

  • June-10-2024

    Amsterdam

  • June-17-2024

    Istanbul

  • June-24-2024

    Singapore

  • June-24-2024

    Paris

  • July-01-2024

    Barcelona

  • July-01-2024

    Dubai

  • July-08-2024

    London

  • July-08-2024

    Amsterdam

  • July-15-2024

    Istanbul

  • July-22-2024

    Barcelona

  • July-22-2024

    Singapore

  • July-29-2024

    Paris

  • July-29-2024

    Dubai

  • Aug-05-2024

    Barcelona

  • Aug-05-2024

    Dubai

  • Aug-12-2024

    London

  • Aug-12-2024

    Amsterdam

  • Aug-19-2024

    Istanbul

  • Aug-26-2024

    Paris

  • Aug-26-2024

    Singapore

  • Sep-02-2024

    Dubai

  • Sep-02-2024

    Barcelona

  • Sep-09-2024

    London

  • Sep-09-2024

    Amsterdam

  • Sep-16-2024

    Istanbul

  • Sep-23-2024

    Barcelona

  • Sep-23-2024

    Singapore

  • Sep-30-2024

    Paris

  • Sep-30-2024

    Dubai

  • Oct-07-2024

    Dubai

  • Oct-07-2024

    Barcelona

  • Oct-14-2024

    London

  • Oct-14-2024

    Amsterdam

  • Oct-21-2024

    Istanbul

  • Oct-28-2024

    Paris

  • Oct-28-2024

    Singapore

  • Nov-04-2024

    Dubai

  • Nov-04-2024

    Barcelona

  • Nov-11-2024

    London

  • Nov-11-2024

    Amsterdam

  • Nov-18-2024

    Istanbul

  • Nov-25-2024

    Paris

  • Nov-25-2024

    Singapore

  • Dec-02-2024

    Barcelona

  • Dec-02-2024

    Dubai

  • Dec-09-2024

    London

  • Dec-09-2024

    Amsterdam

  • Dec-16-2024

    Istanbul

  • Dec-23-2024

    Singapore

  • Dec-23-2024

    Barcelona

  • Dec-30-2024

    Paris

  • Dec-30-2024

    Dubai

Course Details

Course Outline

5 days course

 

Introduction to Fast Close Concepts

 

  • 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

 

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
  • Examining closing activities and requirements
  • Best practices in attaining fast close, soft close and virtual close
  • Optimizing charts of accounts and journal entry requirements
  • Organizing corporate resources to achieve fast close
  • Identifying potential roadblocks

 

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

 

Financial Reporting and On-Going 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 programme
  • Administration and Reporting Process ( The General Ledger – Budgeting - Fixed Assets- Financial  Reporting)

 

Applying Best Practices in the Close Process

 

  • Enhancing  the Operating Cycle

  • Procurement and Disbursement Process

    • Accounts Payable

    • Travel and Entertainment

    • Inventory

    • Payroll

    • Costing

    • Commissions

Course Video