Global Learning for Operational Leaders
Course F08
Fast Closing Monthly and Year-End Accounts
Month and year-end closings are the ultimate processes of finance where the efforts spent during the period materialize... The outline covers Fast closing defined, The finance function as an added value & Redesign of the...
- 5 daysClassroom or online
- 14Upcoming dates
- 6Cities
- €1,978Fees from
Classroom
14 sessions
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Online / Live
14 sessions
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Introduction
Course overview
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.
What you will achieve
Learning objectives
- 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
Who should attend
Target audience
- Accountants, finance managers, financial controllers, management accountants, general ledger accountants, accounts receivable and accounts payable accountants, senior accountants and assistant accountants.
Methodology
Learning approach
- This course focuses on exercises, case studies, and individual and group presentations based on the issues and challenges facing the participants.
Complete course outline
Five focused days of learning and application
The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.
Day 1
Fast closing defined
- Importance and benefits of fast close
- Hard, soft and virtual close
- Elements of soft close
- Coffee break
- Elements of soft close (continued)
- Vision of 'finance and accounting' function
- Activities and purposes of finance and accounting
Day 2
The finance function as an added value & Redesign of the finance function
- 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
- Coffee break
- Tools to identify needs assessment and report user satisfaction (continued)
- 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
Day 3
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
- Coffee break
- Cost and cycle time charts (continued)
- 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
Day 4
Applying best practices in the close process & Procurement and disbursement processes
- Applying best practices in the close process
- Enhancing the operating cycle
- Procurement and disbursement processes
- Accounts payable
- Coffee break
- Travel and entertainment
- Inventory and cost
- Payroll process
- Costing and analysis
- Commissions and fees
Day 5
Billing and collection process
- Accounts receivable and billing
- Collections and cash management
- Administration and reporting process
- The general ledger
- Coffee break
- The general ledger (continued)
- Operational budgeting
- Fixed assets
- Financial reporting
- Elements of the close reporting package
Course FAQs
Questions about this course
What participants and training managers usually ask before booking Fast Closing Monthly and Year-End Accounts. Can't find your answer?
What does Fast Closing Monthly and Year-End Accounts (F08) cover?
This course covers Accounting and Finance through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 9 - 13 November 2026. See the course schedules section for the available dates and delivery formats.
Who should attend this course?
Accountants, finance managers, financial controllers, management accountants, general ledger accountants, accounts receivable and accounts payable accountants, senior accountants and assistant accountants.
Is bilingual course delivery available?
Yes. All course materials and presentations are provided in English, while bilingual explanation and discussion support may be available depending on the selected location and trainer availability. For example, when attending a course in Istanbul, you may request a Turkish-speaking trainer to explain the English course content in Turkish. Arabic explanation support may also be requested at this location. Other languages are available in selected cities. You can choose your preferred language support as an optional preference during registration.
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Check the course schedules section for currently published classroom and Online / Live sessions.
Where are classroom sessions delivered?
Current classroom venues include Rome, Munich, Barcelona, Paris, Frankfurt, Istanbul.
How long is the training programme?
The programme runs for five days from 09:00 to 14:00, which gives 25 contact hours, including a daily 30-minute break (22.5 hours of instruction).
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