Month and year-end closings are the ultimate processes of finance where the efforts spent during the period materialize in accurate and timely reports. Providing such valuable information needs to be done at a cost that is justified by the benefits gained. Hence, organizations need to always identify in efficiencies in this closing process and apply continuous improvement. This workshop provides several tools for process analysis and improvement related to closing the books quickly and efficiently. By the end of the workshop, participants will be able to:
- Describe the different types of close 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 close process redesign
- Apply best practices and enhance the monthly closing procedures
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