Fast Closing Monthly and Year-End Accounts
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.
By the end of the program, participants will be able to:
- Describe the impact of fast closing on companywide operations
- Develop 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