Fast Close Implementation

Are your period-end accounting close procedures adequate and up-to-date? They probably are not. To address this issue the importance of Fast Close initiatives has become abundantly clear as increasing numbers of global organisations implement various Fast Close, or R2R (Record to Report) strategies and processes.

As the amount of financial data we are required to process has continued to increase day-by-day the speed with which we carry out the period-end accounts closing process has become a powerful KPI of management performance, and good corporate governance.

This Anderson online course provides a comprehensive analysis of Fast Close strategies, processes and best practice. Implementation of Fast Close usually requires varying levels of organisational, structural and procedural changes. This course will consider aspects of change management relevant to Fast Close and also how the uses of technology may support organisational and system re-design for improved reporting.    

By the end of this Anderson online training course you will be able to:

• Evaluate fast close strategies, processes, and best practice
• Appreciate the need for change management and the technological issues of a fast close
• Measure and benchmark the fast close process
• Consider organisational documentation policies and procedures
• Understand the importance of departmental requirements for financial reporting

This Anderson online training course is suitable for a wide range of professionals but will greatly benefit:

• All accounting professionals involved in the preparation of financial statements
• Financial controllers, finance managers, financial systems analysts, senior accountants, financial accountants, management accountants, general ledger accountants, assistant accountants, accounts receivable accountants, accounts payable accountants, payroll accountants
• Decision-makers who rely on timely and accurate financial information
• Operations, logistics, and procurement professionals
• Professionals who have responsibility and accountability for financial performance and the integrity of financial and information systems.

Among a wide range of valuable topics, the following will be prioritised:

• Standardisation, customisation and centralisation
• Review of paradigms and the difficulties of effecting change
• Force field analysis
• Use of technology to improve organisational re-design
• Examination of the pre-close and fast close processes
• Benchmarking and other measurement standards, and key performance indicators (KPIs)
• Documentation of fast close processes incorporating the utilisation of checklists
• Design and implementation of controls needed for financial reporting
• Improvement of the closing process and adoption of improvement measures
• Identification of management reporting criteria

Anderson e-Certificate of Completion will be provided to delegates who attend and complete the course