INTRODUCTION
Year-end also known as an accounting reference date is the completion of an accounting period. At this time, businesses need to carry out specific procedures to close their books.
Month and year-end closings are the ultimate processes of finance where the efforts spent during the period materialize in accurate and timely reports. It is important that such valuable information is developed at a cost that is justified by the benefits gained. Hence, organizations need to always identify inefficiencies in the closing process and apply continuous improvement.
Fast Closing Monthly and Year-End Accounts training course focuses on helping you achieve effectiveness and accuracy in fast closing monthly and year-end accounts.
OBJECTIVES
By the end of the Fast Closing Monthly and Year-End Accounts training course, you will be able to :
Describe the impact of fast closing on company-wide operations
Develop a 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
WHO SHOULD ATTEND ?
Fast Closing Monthly and Year-End Accounts training course, is ideal for : Accountants, finance managers, financial controllers, management accountants, general ledger accountants, accounts receivable and accounts payable accountants, senior accountants, and assistant accountants.
COURSE OUTLINE
Day 1
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
Day 2
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
Day 3
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
Day 4
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)
Day 5
Applying Best Practices in the Close Process
Enhancing the Operating Cycle
Procurement and Disbursement Process
Accounts Payable
Travel and Entertainment
Inventory
Payroll
Costing
www.lpcentre.com
IN-HOUSE TRAINING
LPC Training is capable of conducting this training programme exclusively for your delegates. Please e-mail us on admin@lpcentre.com for further information and/or to receive a comprehensive proposal.
www.lpcentre.com
DOCUMENTATION
LONDON
Oxford Street Offices:
London - Oxford Street
High-Quality material has been prepared by the LPC team for distribution to delegates. In addition, a special note pad to facilitate note-taking will be provided.
25 N Row, London W1K 6DJ
+44 (0) 20 36 916 970
CERTIFICATES
West London Office: 47 49 Park Royal Road
London NW10 7LQ
Accredited Certificate of completion will be issued to those who attend & successfully complete the programme.
SCHEDULE
Our Course timings commence at 09:00 and conclude at 13:00.
REGISTRATION & PAYMENT
+44 (0) 20 80 900 464
info@lpcentre.com
DUBAI Business Bay - Marasi Drive
Churchill Tower commercial 1, Office 107
+971 4 421 4616
Please complete the registration form on the course page & return it to us indicating your preferred mode of payment. For Further Information, please get in touch with us.
KUALA LUMPUR
CANCELLATION AND REFUND POLICY
Delegates have 14 days from the date of booking to cancel and receive a full refund or transfer to another date free of charge. If less than 14 days notice is given then we will be unable to refund or cancel the booking unless on medical grounds.
For more details about the Cancellation and Refund policy, please visit www.lpcentre.com/terms-and-conditions/
TRAVEL AND TRANSPORT
No. 03-06-05, UOA Business Park, Jalan Pengaturcara U1/51A, Section U1, Kawasan Perindustrian Temasaya, 40150 Shah Alam, Selangor +60 19-305 5694
We are committed to picking up and dropping off the participants from the airport to the hotel and back.
www.lpcentre.com
www.lpcentre.com