Fast Closing Accounts and Developing a Fast-Close Strategy

We regret to inform you that there are currently no scheduled sessions for this course, so please let us know your preferred date and location and we will contact you soon.

Course Introduction

Are you familiar with the recently-developed initiatives called Fast Close or R2R (Record to Report) implemented by increasing numbers of organisations on a global basis?

This COPEX online training course provides an introduction to Fast Close and the processes that enable modern, global organisations to rapidly close their accounting books at each month-end and year-end. It also includes how a Fast Close strategy may be developed by organisations to collate and consolidate financial information to then publish their financial statements more speedily.

The benefits of a Fast Close of the accounts should include cost reductions, and certainly will allow more time for review of the financial statements before publication to correct and reduce published errors, and avoid strategic information being made available inadvertently to competitors. Fast, reliable financial information also enables management to more effectively execute strategic plans. The ability of an organisation to produce its financial statements quicker has a variety of benefits such as being able to meet strict stock exchange regulations, and producing more timely information for investors.

Objectives

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

  • Identify the different types of fast close and their benefits
  • Evaluate financial reporting issues relating to IFRS and reporting disclosure requirements
  • Understand the importance of fast close process and financial and operational decision-making
  • Develop fast close strategies and processes, and identify roadblocks
  • Provide faster and more accurate data for month-end and year-end account closings.

Who Should Attend?

This COPEX 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.

Course Outline

Day 1: Among a wide range of valuable topics, the following will be prioritised:

  • The different types and benefits of fast close
  • Steps needed to achieve a fast close
  • Analysis and review of the current closing process
  • Redesign of the closing cycle
  • Finance function re-design and solutions
  • Examination of closing activities and requirements
  • Best practice in attaining fast close, soft close and virtual close
  • Optimisation of charts of accounts and journal entry requirements
  • Organisation of corporate resources to achieve fast close
  • Identification of potential roadblocks, or obstacles to fast close

Certificate

  • A COPEX e-Certificate will be provided to delegates who attend and complete the online training course

Material published by Copex shown here is copyrighted. All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

Whats Makes Copex Courses Unique?

COPEX Training is your gateway to professional growth, with over 20 years of experience turning potential into success. Each year, we deliver over 1,000 courses in 50+ countries, earning a stellar 98% satisfaction rate. Trusted by global giants like BP, the United Nations, and HSBC, we partner with top certification bodies to provide career-focused training that empowers individuals and drives organizational breakthroughs. Our mission? To transform the way professionals learn and grow in today’s fast-changing industries. Through expert insights, cutting-edge methods, and hands-on approaches, we equip you with the skills and confidence to tackle challenges, seize opportunities, and thrive in your career.

Led by a passionate leadership team and supported by a network of world-class trainers, COPEX Training connects professionals worldwide with life-changing opportunities. We are committed to excellence, ensuring every participant leaves with the tools, expertise, and confidence to conquer an ever-evolving world.

Related Categories

Finance & Accounting Purchasing & Supply Chain Management

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Our cancellation policy varies depending on the circumstances presented. Generally, cancellations must be initiated in formal writing at least 14 days prior to the commencement date of the training course. Further, the option to shift an existing registration to another training course on a later date is possible. Otherwise, a full refund will be initiated.

Our training courses courses are being held at five-star hotels in prime and iconic destinations across the globe. Cities such as Amsterdam, Barcelona, Dubai, Geneva, Istanbul, Kuala Lumpur, London, Houston, New York, Paris, Vienna, Zurich, etc.

Our training courses will run for 5 hours per day. The standard daily timing is from 8:30 am – 3:30 pm including the coffee/tea breaks and lunch.

The training course fee can be settled by either:

  • Bank transfer
  • Credit Card

Published training course fees are inclusive of the training venue, training manual, writing materials, lunch and coffee breaks with refreshments over the entire duration of the training course.

Upon successful registration, processing window will take not more than 24 hours from the time of registration. An email including the registration confirmation, invoice and joining instructions will be sent to the provided email address.

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We can customize this training course for you!

At Copex Training, we offer customizable courses designed to fit your specific needs. whether it's refining procurement practices or enhancing leadership and management skills, we tailor our programs to meet your unique goals and challenges. Let us create a training solution that delivers real results for your team.

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