Speed Up the Monthly Accounting Close Process

Speed Up the Monthly Accounting Close Process

In sports, the manager knows the score right at the moment and can make adjustments on the spot. Yet in business, we can be well into a month before we know how last month went. In finance, we can feel like we move from one month close to the next, with little time in-between to analyze and improve results. Fortunately, that can change with leadership and knowledge.

In this course you learn how to approach your closing process differently and come up with a number of ways you might speed up your process. Learn how to prepare ahead for the month's end, along with techniques to make sure your numbers are more accurate, while coming out even faster. Less time closing means more time for strategic, value-add opportunities to advance your company and your career. This course walks you through a real-world example at a pharmaceutical firm that transformed its operations to report numbers the first morning after month-end after previously being many weeks behind in their financials.

If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: Speed Up Your Close - Save Resources and Time for Improving Results. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.

This course explains how to get ahead of month-end, streamline your close, get buy-in from your organization and more.

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What you will learn

• Specify why a fast close is important and build the mindset needed from your president, staff, company and suppliers to get buy-in for a faster close.
• Identify new ways to look at your closing process and come up with ideas to speed up your most challenging processes and toughest numbers to generate.
• Establish where to look during the month and what to generate in your final review so you can be both fast and accurate without getting blindsided by surprises later.

Rating: 3.45

Level: Intermediate Level

Duration: 37 mins

Instructor: Illumeo Learning