Introduction 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
• Examining needs of stakeholders
• Scope of problems for organizations
• Process improvement practices
• Process redesign tools and techniques

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 in Redesigning and Monitoring the Finance Function

• Standardization, customization and centralization
• Reviewing paradigms and the difficulties of effecting changes
• 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, including key performance indicators
• Documenting fast close processes incorporating the utilization of checklists

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