Targeted AudienceIntroduction to Fast Close Concepts
- Different types and benefits
- Steps needed to achieve a fast close
- Analyzing and reviewing the current closing process
- Redesigning the closing cycle
- Finance function stakeholders, redesign and solutions
Developing a Fast Close Strategy
- 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
Managing Change and Utilizing Technology
- Standardization, customization and centralization
- Reviewing paradigms and the difficulties of effecting changes
- Force Field Analysis
- Change Management Exercises
- Using technology to improve organizational redesign
Operational Implementation of a Fast Close
- Examining the pre-close and fast close processes
- Adopting benchmark and other measurement standards
- Key Performance Indicators (KPIs)
- Documenting fast close processes incorporating the utilization of checklists
- Analytical Case Study
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