Why Choose this Training Course?
We are living in a world that is in a state of rapid change. After the global financial crisis of 2008 and various large corporate collapses, the financial world is demanding good quality financial information delivered in a timely manner. Financial reporting is becoming ever more detailed, and decision makers require this information more quickly than ever. Those companies that produce accurate financial information quickly will have a distinct advantage over their competitors, in that the markets will have greater confidence not only in their financial reporting systems generally but also their general corporate governance. Quicker internal financial information also leads to the ability to make swifter management decisions, which can be vital to businesses that operate in fast moving environments. As if these advantages are not enough producing the month end and financial information more quickly can save costs and frees up management and financial professionals time to concentrate on other value added activities for the organisation.
What are the Goals?
By the end of this COPEX training course, participants 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
Who is this Training Course for?
This COPEX 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
- COPEX Certificate of Attendance will be provided to delegates who attend and complete the course
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