Accounts Closing Training

Overview

By attending this Accounts Closing Training in Dubai you will develop an in-depth understanding of fast close processes, policies and systems and how to improve your current close processes and systems to achieve world class fast close goals.

You will improve data quality and free up your finance staff to focus on activities that add greater value to your organization, such as business partnering, focusing on business forecasting and budgeting and participating in new project initiatives.

This course does not focus on a particular industrial sector and addresses the generic issues that are attached to closing and reporting issue sat both the legal entity, divisional and group levels and across all the main reporting cycles, the close of actual results, the budget and forecast.

Key Takeaways

Seeking guidance on setting up a plan for fast and accurate closing process
Identifying process bottlenecks
Incorporating utilization of checklists
Continuous improvements in closing process
Using Technology to improve organizational design
Identifying management reporting criteria

Who Should Attend

This course is designed for those involved in finance, accounting, financial control, finance and information systems, financial accounting, administration, financial consolidation and external reporting.

Course Outline

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 solution
Examining needs of stakeholders
Scope of problems for organizations
Process improvement practices
Process redesign tools and techniques

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 & Utilizing Technology in Finance Function

Standardization, customization and centralization
Reviewing paradigms and the difficulties of effecting changes
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, including key performance indicators
Documenting fast close processes incorporating the utilization of checklists