Fast Closing Monthly and Year-End Accounts Training Courses - Dubai | Meirc
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Accounting and Finance

Fast Closing Monthly and Year-End Accounts

Why Attend

Month and year-end closings are the ultimate processes of finance where the efforts spent during the period materialize in accurate and timely reports. It is important that such valuable information is developed at a cost that is justified by the benefits gained. Hence, organizations need to always identify inefficiencies in the closing process and apply continuous improvement. This course provides several tools for process analysis and improvements related to closing the books quickly and efficiently.

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Course Methodology

This course focuses on exercises, case studies, and individual and group presentations based on the issues and challenges facing the participants.

Course Objectives

By the end of the course, participants will be able to:
  • Describe the different types of closing and list the main activities in the closing cycle
  • Utilize assessment tools to pinpoint the disconnect between finance and internal users
  • List the steps needed to carry on process improvements in finance and identify the need for closing process redesign
  • Practice using process maps to identify closing inefficiencies and present improvement recommendations
  • Apply best practices and enhance the monthly closing procedures

Target Audience

Accountants, finance managers, financial controllers, management accountants, general ledger accountants, accounts receivable and accounts payable accountants, senior accountants and assistant accountants.

Target Competencies

  • Process analysis
  • Closing procedures
  • Analytical skills
  • Process mapping
  • Applying month-end and year-end closing best practices
  • Fast closing defined
    • Importance and benefits of fast close
    • Hard, soft and virtual close
    • Elements of soft close
    • Vision of 'finance and accounting' function
    • Activities and purposes of finance and accounting
  • The finance function as an added value
    • Usefulness of financial information
    • Defining the finance function stakeholders
    • Disconnect between finance and internal users
    • Tools to identify needs assessment and report user satisfaction
  • Redesign of the finance function
    • The paradigm shift
    • Top information deficiencies
    • Tools to identify the need for a redesign
    • Reasons for process redesign
    • Three steps to carry on process improvement and finance function redesign
  • Planning the fast close process
    • Setting up a plan for a fast close
    • Pre-close process and activities
    • Implementing the plan and staying in control
    • Finance process redesign tools and techniques
    • Cost and cycle time charts
    • Process maps and value analysis
    • Identifying process bottlenecks
    • Organizing fast close resources needed
    • Shifting close activities
    • Selecting Key Performance Indicators (KPIs)
    • Continuous improvements in closing process
  • Applying best practices in the close process
    • Enhancing the operating cycle
    • Procurement and disbursement processes
      • Accounts payable
      • Travel and entertainment
      • Inventory and cost
      • Payroll process
      • Costing and analysis
      • Commissions and fees
    • Billing and collection process
      • Accounts receivable and billing
      • Collections and cash management
    • Administration and reporting process
      • The general ledger
      • Operational budgeting
      • Fixed assets
      • Financial reporting
    • Elements of the close reporting package

Meirc Professional Certificate (MPC)

MPC certified courses by Meirc Training and Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

MPC

National Association of State Boards of Accountancy (NASBA)

Meirc Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org

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Per participant

USD 4,900

Fees + VAT as applicable

Tax Registration Number : 100239834300003

(including coffee breaks and a buffet lunch daily)

This course is worth 25 NASBA CPEs.

2020 - Location & Date

5 Days Course

No Schedules!
Please Contact Us if you have any queries..

Schedule for Me
Meirc reserves the right to alter dates, content, venue and trainer.

2021 - Location & Date

21 - 25 Mar, 2021
Dubai
English
8 - 12 Aug, 2021
Dubai
English
Meirc reserves the right to alter dates, content, venue and trainer.

This course is also offered in Virtual Learning, click on the course below.