Accounts Closing Training 


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

Financial Reporting and Improvements in 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 program

General Ledger and Local Transaction Systems

  • How these systems can facilitate fast close
  • Process monitoring and management
  • Walk through systems architectures and package options
  • Choosing the right systems options for your Organization
  • Implementation issues and where they fit in the roadmap