Fast Closing Month-End & Year-End Accounts

Course details

The amount of financial data we are required to process is increasing day-by-day. Are your period-end accounting close procedures adequate and up-to-date? They probably are not. Over the past 10 years or so the speed with which we carry out the period-end accounts closing process has become a powerful KPI of management performance and is an indicator of management’s ability to execute its strategic plans, and good corporate governance. This has encouraged the implementation of Fast Close or Record to Report (R2R) initiatives by increasing numbers of organisations on a global basis.

This AZTech training course provides a comprehensive analysis of Fast Close, which is the ability of organisations to rapidly close their period-end accounts, collate all information for financial reporting, and then consolidate and publish accurate and reliable financial statements. The implementation of Fast Close by many modern, global organisations has provided a large range of benefits. These include being able to meet strict stock exchange regulations, produce more timely information for strategic decisions, reduce costs, and gain more time for review of the financial statements before they are published to reduce errors, and prevent strategic information being made available to competitors.

This AZTech training course will feature:

• Different types of fast close and their benefits
• Development of the fast close process and identification of roadblocks
• Change management and technological issues of fast close
• Measuring and benchmarking the fast close process
• Financial reporting issues including IFRS disclosure requirements

Updated on 09 January, 2020