Fast Closing Month-End and Year-End Accounts
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1- Online Training...with international accreditation. The value of participation per person is €1,450
2-Requirement : specifying the course, number of participants
implementation date, and joint coordination.
Group contracting ... 20% Discount For Each Participant In Any Group Of Five Person Or More
Other Places To Hold The Course :
KualaLumpur.. Istanbul.. Dubai.. Cairo.. Riyadh.. Jeddah.. Abu Dhabi.. Doha.. Muscat.. Sharm El Sheikh.. Kuwait.. Tripoli.. Amman.. Beirut.. Damascus.. Tunisia.. Casablanca.. London.. Paris.. Barcelona.. Amsterdam.. Brussels
Fast Closing Month-End and Year-End Accounts
Introduction :
One of the most challenging aspects faced by a financial accountant is to close the month-end and year-end accounts and present the financial statements and get them audited as fast as possible. The resulting financial statements are used by management, shareholders, lenders and regulators for their decision making.The accountants have to comply with the regulatory deadlines to complete the closing process and issue financial statements. However, the closing process has conventionally been a slow one.
Course Objectives :
At the end of this course, the participants will be able to :
- Move the timing of closing activities out of the core closing period
- Standardise and automate the use of journal entries in the closing process
- Standardise the chart of accounts
- Centralise the accounting functions
- Optimise the approval process for the receivables and payables
- Integrate an ongoing improvement review into the closing process
Targeted Audience :
- 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
- Management and 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
Course Outlines :
Module 1 – Introduction to the Fast Closing Process
- Different types of a fast close
- Benefits of the fast close
- Legal issues impacting the fast close
- Steps to achieve a fast close
Module 2 – Review of the current closing process
- Traditional closing process
- Additional closing tasks for listed, multidivisional, multinational companies
- Problems with the current closing process
- The total duration of the closing process
Module 3 – Altering the timing of the closing activities
- Altering the closing mindset
- Review and correct the sub-ledger transactions
- Completing Bank reconciliations faster
- Altering the invoicing process
- Altering the accruing of expenses and income
- Reconciling asset and liability accounts
- Deferring closing activities
Module 4 – Revising the content of financial statements
- Altering the mode of report delivery
- Revising the content of financial statements
- Standardizing reports
- Eliminate the cost reporting from the reporting package
- Separate metrics from the financial reporting package
Module 4 – Optimize the use of journal entries and chart of accounts
- Eliminate immaterial journal entries
- Standardize the journal entries
- Convert to recurring journal entries
- Automate journal entry postings
- Standardize the chart of accounts
- Automate elimination of intercompany transactions
Module 5 – Fast closing process
- Closing the inventory function
- Closing the billing function
- Closing the payroll function
- Closing the payables
- Closing the cash process function
Module 6 – Standardization, centralization and automation of the closing process
- Impact of standardization of the closing process
- Impact of centralization of the closing process
- Impact of automation on the closing process
- Controls for financial reporting
Module 7 – Ongoing improvements in the closing process
- Ongoing improvement process
- Improvement measurements
European Business Center Training Methodology :
Our training work is presented in a professional and attractive manner.. Interspersed with interceptive information to renew attention throughout the training period… We aim with this method to train the listener and interact… In addition to practical applications that target the direct skills and knowledge required to be achieved.. It is presented to the trainees in more than one way.. Practical exercises and applications.. Surveys and questions.. A training strategy has been adopted based on pairing between the theoretical and the professional and between the local and the global.
What Does The Participant Get From The Course?
Each participant obtains an internationally accredited training certificate from the European Business Center for Training and Development … which has the ISO certificate in quality No. 9001/2015 from the English international company UKAS .. and receives a training bag containing the scientific material via an electronic flash … in addition to an enjoyable and useful training that is reflected Positive and developmental for individuals and the institution
Note :
We can implement the training course in any of the cities referred to in this course..at the appropriate and required time for the trainees..through joint coordination with the training department at the center..the training is implemented in a distinctive manner according to the best quality standards so that we meet all training requirements and needs.
International Accreditations
European Business Center for Training and Development has obtained international and official accreditations with the highest and best international levels scientifically and technically, which reflect the level of outstanding performance in our training work.. so that it achieves what each participant aspires to by obtaining the best certificates with officially approved scientific and technical standards.
