The Course
This program provides an in-depth overview of the “Fast Close” process, which is the ability of a modern, global organization to rapidly close the accounting books, collect, consolidate and, then, publish its financial statements. This process is widely viewed not only as an indicator of management’s abilities to execute its strategic plan in light of the availability of fast, reliable financial information, but also a proxy for good, well-implemented corporate governance. This program will also review the mounting concerns and evidence that the “Fast Close” process, after a long period of sustained improvement, is now in a period of decline, due in large part to the impact of compliance, new accounting and reporting standards and the sheer increase in the volume and complexity of financial information that needs to be consolidated and reviewed.
Pre-Requisites
Delegates should have an understanding of the construction of financial statements and be familiar with the financial closing processes of their own organizations.
The Goals
By attending and participating in this program, delegates will be provided with an overview of the concepts and methodologies associated with the fast close process and gain insightful practical knowledge by being able to:
The Process
Delegates will gain a practical understanding and comprehension of the program topics through a combination of instruction, illustrations, group discussions and other practical, real-life examples.
The Programme Content
Day One
Introduction to Fast Close Concepts
Day Two
Developing a Fast Close Strategy
Day Three
Managing Change and Utilizing Technology in Redesigning and Monitoring the Finance Function
Day Four
Operational Implementation of a Fast Close
Day Five
Financial Reporting and On-Going Improvements to the Closing Process