Finance and Accounting

Training Course: Fast Closing Month-end & Year-end Accounts


Register Now
Quick Inquiry
Discount Group Download Brochure (37)

FI2039

11 - 15 May 2025

Dubai (UAE)

Cost : 4150 € Euro

Introduction

This program provides an in-depth overview of the “Fast Close” process, which is the ability of a modern, global organization to rapidly close the accounting books, collect, consolidate and, then, publish its financial statements. This process is widely viewed not only as an indicator of management’s abilities to execute its strategic plan in light of the availability of fast, reliable financial information, but also a proxy for good, well-implemented corporate governance. This program will also review the mounting concerns and evidence that the “Fast Close” process, after a long period of sustained improvement, is now in a period of decline, due in large part to the impact of compliance, new accounting and reporting standards and the sheer increase in the volume and complexity of financial information that needs to be consolidated and reviewed.

Pre-Requisites of Fast Closing Month-end & Year-end Accounts

Delegates should have an understanding of the construction of financial statements and be familiar with the financial closing processes of their own organizations.

Course Objective of Fast Closing Month-end & Year-end Accounts

By attending and participating in this program, delegates will be provided with an overview of the concepts and methodologies associated with the fast close process and gain insightful practical knowledge by being able to:

  • Understand the importance of the fast close process on financial and operational decision-making within an organization
  • Examine fast close processes, strategies and best practices as well as consideration of organizational documentation policies and procedures
  • Understand the importance of departmental requirements for financial reporting as well as the need for on-going improvements to the closing process
  • Provide faster and more accurate data for monthly and year-end account closings with the goal of enhancing communication with internal and external financial statement users

The Process of Fast Closing Month-end & Year-end Accounts

Delegates will gain a practical understanding and comprehension of the program topics through a combination of instruction, illustrations, group discussions and other practical, real-life examples.

Course Outline of Fast Closing Month-end & Year-end Accounts

Day One

Introduction to Fast 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
    • Examining needs of stakeholders
    • Scope of problems for organizations
    • Process improvement practices
    • Process redesign tools and techniques

Day Two

Developing a Fast 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

Managing Change and Utilizing Technology in Redesigning and Monitoring the Finance Function

  • Standardization, customization and centralization
  • Reviewing paradigms and the difficulties of effecting changes
  • Using technology to improve organizational redesign

Day Four

Operational Implementation of a Fast Close

  • Examining the pre-close and fast close processes
  • Adopting benchmark and other measurement standards, including key performance indicators
  • Documenting fast close processes incorporating the utilization of checklists

Day Five

Financial Reporting and On-Going Improvements to the Closing Process

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

Finance and Accounting

Training Course: Fast Closing Month-end & Year-end Accounts


Register Now
Quick Inquiry
Discount Group Download Brochure (37)

FI2039

11 - 15 May 2025

Dubai (UAE) -

Cost: 4150 € Euro


  About Dubai

Dubai, located on the Persian Gulf, is one of the seven United Arab Emirates and one of the most popular tourist destinations in the world. The discovery of oil in the region has made Dubai extremely wealthy, allowing it to build the glittering skyscrapers that it is now famous for. That wealth is strongly in evidence in Dubai and visitors will see luxurious buildings and supercars aplenty. Perfect beaches and endless shopping opportunities are to key to Dubai's attractions. Flights to Dubai open up the city's cultural attractions to tourists, with beautiful mosques, museums and art galleries scattered throughout this ultra-modern metropolis.


  Things to do and places to visit in Dubai

Dubai's wealth has made it famous for building ever taller buildings and creating artificial islands off its shores. The city's hotels are luxurious and shoppers will love its extensive shopping malls which showcase all the world's top brands. Dubai's attractions don't end there. Dubai also caters to adventure lovers, who can jump in a 4x4 or on a board to speed over dunes outside the city. Local culture mustn't be forgotten either, and visitors have wonderful mosques to visit and old districts to explore. All that combined means that a flight to Dubai is sure to lead to an unforgettable holiday.

When visiting Dubai, be sure to:

  • Go to the observation deck of the Burj Khalifa, the tallest building in the world.
  • Admire the intricately beautiful Grand Mosque, which has the tallest minaret in the city.
  • Understand the local history and culture with a visit to the Dubai Museum.
  • Discover objects from the 6th century at Jumeirah Archaeological Site.
  • Go skiing – That's not a joke, the Mall of the Emirates houses a snowdome.
  • Go shopping at the Mall of the Emirates or the Dubai Mall.
  • Explore the desert surrounding the city – either by 4x4 or atop a camel.
  • Eat fantastic seafood at Dubai Marina.
  • Cool off at the Wild Wadi Waterpark.
  • Marvel at gorgeous Arabic calligraphy at Jumeirah Mosque, the biggest in the city.
  • Take a yacht tour around the artificial islands of Palm Jumeirah.
  • Haggle for souvenirs in one of the city's souks.
  • Wander around the traditional building in Bastakiya District.
 22 Portman Square, Marylebone, London W1H 7BG, UK
 3 Oudai street, Aldouki, Giza, Giza Governorate, Egypt
 0020233379764
 00201095004484
 00201102960555
 00201102960666
 19 Mayıs Mahallesi, 19 Mayis Street No 2 Sisli, 34360 Istanbul/Turkey
 00905357839460
 Australia Street, Raouche Beirut, Lebanon .، Beirut, Lebanon
 0096181746278
 811 Massachusetts Avenue, Boston, Massachusetts, 02118, USA
 6 Beirut Street - Fifth Circle Abdoun, P.O. Box 831370, 11183 Amman, Jordan
Copyright Global Horizon Training Center © 2019