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.

By the end of this course delegates will be able to:
• Understand the importance of the fast close process on financial and operational decisionmaking 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

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 for the fast close process
• Financial systems analysts
• Financial and operational business re-engineering professionals
• Professionals who are held accountable for financial performance and the integrity of
financial and information systems

This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include:
• Lectures
• Workshop & Work Presentation
• Case Studies and Exercise
• Videos and General Discussions

The programmer Content
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 o Examining needs of stakeholders o Scope of problems for organizations o Process improvement practices o 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

A RECTUS attendance certificate will be awarded to all participants who complete at least 80% of the total course duration.