Fast Closing Monthly

Denny HaRTANTO

INTRODUCTION

This course will help you to close the account faster & be more effective after considering the latest GST technical updates.

Course Objectives                                                                                                                                   
By the end of this course you will be able to:

  1. Why cannot Fast Closing Monthly & Year-End Accounts?

  2. Critical Roles of The Finance Function

  3. Redesign Finance Function

  4. Implementing Process Improvement Project

  5. Redefining the Role for Finance Managers

METHODOLOGY

Case Study & Group Discussion. Real-current financial issues & cases will be analyzed and scenario solutions will be discussed within the workshop.

WHO SHOULD ATTEND

Entrepreneurs, Bankers, Accountants, CFO, CEO, Business Managers, Finance Managers, Supervisors, and Managers

Special Feature: NOTE: Please bring laptop along

PROGRAMME OUTLINE

Module 1: Understanding Fast Closing

  • Fast closing definition

  • Benefits of fast closing

Module 2: Discussion on Fast Closing Burning Issues

  • Most work done manually - no system

  • Inadequate Document Flow

  • Miscommunication leading to different data report - budget issues

  • Unknown Transactions from historical data

  • Culture & Work Environment - no commitment

  • Slow info received from subsidiaries

  • System Migration - Data compilation during migration not yet complete

  • Uneven Workload

  • Outlets pass documents late

  • Interface of revenue from billing system to SAP

Module 3: Fast Closing Discussion

  • Discuss on how to shorter the mth end closing 

  • Discussion on systematic way of closing the accounts

  • How to do minimum adjustments to closing of accounts

  • Discuss ways to redesign a simple finance accounting cycle

  • How finance division can be more proactive in terms of budgeting, Forecasting & advisory role

  • Discuss ways to control & manage the cash flow

Module 4: Fast Closing Contribution to The Organization’s Bottom Line

  • Asset conversion 

  • Collection 

  • Cost reduction 

  • Revenues 

  • Purchasing policy 

Module 5: Discussion on Account Payable

  • Timely payment due incomplete documents

  • Received invoices late from vendor/outlets

  • PO not stated on the invoice 

  • Timely closing of AP/accruals

  • PO issued but invoice never reached AP.

  • Cancellation of PO was never informed.

  • Changes in price quoted was not informed

  • Invoices not issue/receive

Fast Closing Monthly & Year-End Accounts
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