Fast Closing Month-End
& Year-End Accounts

We live in a world characterized by rapid change. Following the global financial crisis of 2008 and several major corporate collapses, there is now a heightened demand in the financial world for high-quality financial information delivered promptly. Financial reporting continues to grow more intricate, with decision-makers increasingly needing this data faster than ever before.

Companies that can produce accurate financial information quickly gain a significant edge over their competitors. Market confidence not only in their financial reporting systems but also in their overall corporate governance is bolstered. Swift access to internal financial information also enables faster management decisions, crucial for businesses operating in dynamic environments.

Moreover, speeding up month-end and financial reporting processes not only saves costs but also frees up time for management and financial professionals to focus on other value-added activities within the organization.

By attending this Anderson training course, delegates will be able to:

• Examine fast close processes, strategies and best practices
• Consider organisational documentation policies and procedures
• Understand the importance of fast close process on financial & operational decision-making
• Provide faster and more accurate data for monthly and year-end account closings
• Understand the importance of departmental requirements for financial reporting

This Anderson training course is suitable for:  

• Any professional involved in the preparation of financial statements, including financial controllers, finance managers, senior accountants, management accountants, general ledger accountants and assistant accountants, and accounts receivable and accounts payable accountants and assistant accountants
• Operational professionals acting upon the financial decisions of others, who will gain an appreciation of the fast close process
• Financial systems analysts
• Professionals who are held accountable for financial performance and the integrity of financial and information systems

• Different types and benefits
• Steps needed to achieve a fast close
• Analysing and reviewing the current closing process
• Redesigning the closing cycle
• Finance function stakeholders, redesign and solutions

• Examining closing activities and requirements
• Best practices in attaining fast close, soft close and virtual close
• Optimising charts of accounts and journal entry requirements
• Organising corporate resources to achieve fast close
• Identifying potential roadblocks

• Standardisation, customisation and centralisation
• Reviewing paradigms and the difficulties of effecting changes
• Force field analysis
• Change management exercises
• Using technology to improve organisational re-design

• Examining the pre-close and fast close processes
• Adopting benchmark and other measurement standards
• Key performance indicators (KPIs)
• Documenting fast close processes incorporating the utilisation of checklists
• Analytical case study

• Design and implementation of controls needed for financial reporting
• Improving the closing process and adopting improvement measurements
• Identifying management reporting criteria
• Summary of the course

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