Month-End & Year-End Accounts Closure

Month-End & Year-End Accounts Closure

Course Description

The Quick Closing Month-End & Year-End Accounts provides an in-depth overview of the ‘Quick Close’ process, which is the ability of an international organization to rapidly close the accounting books, collect, consolidate and, then publish its financial statements. Expressed another way, the monthly close must achieve a proper cut-off of each month’s financial activities.

The finance function needs to free up time from accounting routines and focus their efforts on decision support activities. They must ensure that the monthly financial statements are accurate and timely; using standard journal entries, recurring journal entries, and checklists for the tasks that must be completed.

For Whom

This course is suitable to a wide range of professionals but will greatly benefit:

  • 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.
  • Professionals acting upon the financial decisions of others, who will gain an appreciation for the fast close process, Professionals who are held accountable for financial performance and the integrity of financial and information systems.
Learning Objectives
  • Completing your month-end reporting requirements inside a reduced time frame.
  • Identifying the best practice features to speed up month end routines.
  • Focusing on the essential reporting requirements in the month and determining fleet of foot solutions.
  • Determining how some reporting tools may be of help to revolutionise board reporting.
Topical Outline

Day One: Introduction to Quick Close Concepts

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

Day Two: Developing a Quick Close Strategy

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

Day Three: Operational Implementation of a Quick Close

  • Adopting benchmark and other measurement standards
  • Key Performance Indicators (KPIs)
  • Analytical Case Study
  • Identifying management reporting criteria
  • Summary of the Course

Summary

Course Title: Accounts Receivable

Type of Course: Crash Course

Number of Sessions: 3 sessions (5 hours each)

Language: Dutch; English

Course Materials: ICC Course Reader

Certificate: Professional Development Certificate

Fees: EUR 750.- per participant