Fast Closing Month-End and Year-End Accounts Training in Dubai , UAE
Course Code : FBA113 - Course Address : Manzil Downtown Hotel - Course Fees : 4750 GBP + 05% VAT
|City||Start Date||End Date||View|
|Dubai , UAE||24 - 12 - 2023||28 - 12 - 2023||
|Dubai , UAE||3 - 12 - 2023||7 - 12 - 2023||
|Dubai , UAE||21 - 1 - 2024||25 - 1 - 2024||
|Dubai , UAE||7 - 1 - 2024||11 - 1 - 2024||
|Dubai , UAE||18 - 2 - 2024||22 - 2 - 2024||
|Dubai , UAE||4 - 2 - 2024||8 - 2 - 2024||
|Dubai , UAE||10 - 3 - 2024||14 - 3 - 2024||
|Dubai , UAE||24 - 3 - 2024||28 - 3 - 2024||
|Dubai , UAE||7 - 4 - 2024||11 - 4 - 2024||
|Dubai , UAE||21 - 4 - 2024||25 - 4 - 2024||
This course 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.
The ability of a company to produce its financial statements quicker has a variety of benefits such as being able to meet strict stock exchange regulations, being able to produce more timely information for strategic decisions, reducing costs, giving more time for review of the financial statements before they are published to reduce errors or strategic information being made available to competitors. This process is an indicator of management’s ability to execute its strategic plan in light of the availability of fast, reliable financial information, and also a proxy for good, well-implemented corporate governance.
This course will feature:
- The different types of fast close and benefits
- The development of the fast close process and identifying roadblocks
- Change management and technological issues of a fast close
- Measuring and benchmarking the fast close process
- Financial reporting issues including converting to IFRS and disclosure requirements
- Examine fast close processes, strategies and best practices
- Consider organizational 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
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
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
Managing Change and Utilizing Technology
- Standardization, customization and centralization
- Reviewing paradigms and the difficulties of effecting changes
- Force Field Analysis
- Change Management Exercises
- Using technology to improve organizational redesign
Operational Implementation of a Fast Close
- Examining the pre-close and fast close processes
- Adopting benchmark and other measurement standards
- Key Performance Indicators (KPIs)
- Documenting fast close processes incorporating the utilization of checklists
- Analytical Case Study
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
Where will the course be held?
The course will be held in Downtown. The exact address and directions will be provided to all enrolled participants prior to the start of the course.
What topics will be covered in the course?
The course will cover a range of topics related to the subject matter, including but not limited to the topics of outlines. By the end of the course, you'll have a solid understanding of the key concepts and techniques in the field, and be able to apply them to real-world situations. Detailed course outlines and learning objectives will be provided to all enrolled students prior to the start of the course.
What is the schedule for the course?
The course is expected to run for 3 hours daily. The exact schedule and timing will be confirmed and communicated to all enrolled students via email at least 2 days prior to the course start date.
What do I need to bring to the course?
All you need to bring is yourself, a notepad or laptop for taking notes, and a willingness to learn! We'll provide pens, paper, and any required textbooks or handouts.
What is the instructor's background and experience?
Our instructors are seasoned industry professionals with over 10 years of experience in the field. They hold a master's degree in the subject matter and have a proven track record of success working with trainees of all levels. You'll have plenty of opportunities to ask questions and get feedback throughout the course.
What are the T&C for this course?
Please visit our Terms and Conditions page
What kind of certificate will I receive upon completion of the course?
Upon completion of the course, you will receive an attendance certificate indicating that you have completed the course. This certificate is not accredited or recognised by any particular institution or organisation, but it can be used to demonstrate your commitment to continuing education and professional development.