Best Practices for a Quicker Financial Close 1 Credit
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Nov 07, 2023 | 11:30 AM
ET
Ever wondered why controllers are so keen on attaining a faster close process? This is because the best measure of controller efficiency is the accuracy and promptness of the financial close process.
The pressure on the finance function has never been higher to deliver financial results as soon as possible after the period. Having a fast and efficient close process allows the finance team to not only present the figures through reports instead become well-positioned to execute high-yielding activities that can help propel the business toward success.
Managers, analysts, Boards, and investors are digesting market information in real-time and are beginning to expect the same financial results. To meet these high expectations, the CFO and controller need to find ways to speed up their financial close processes to report the financial results before they become perceived as old news in the new world.
If achieving a faster close process was easy, all organizations would have done it. As you may very well know, this is easier said than done. Many organizations struggle with achieving a faster close without needing to increase staffing levels because for most companies their end-to-end financial process is marred with inaccuracies needing validation and tasks requiring manual input.
The close financial process includes an income statement, balance sheet, statement of cash flow, operational metrics, analyses of certain reports, forecasting, and scenario simulations among other things.
In this online CPE/CPD course, Blair Cook a many-time CFO will discuss and explore ideas for shortening the financial close process.
Leading companies have found ways to close their books in as little as one day and see the benefit of almost real-time analysis (in addition to the actual period financial data) that can be performed with a shorter close. If you are closing your books and circulating your financial results beyond that, then you may benefit from attending this webinar.
Major topics covered in this CPE Accounting Webinar:
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Blair is a many-time and active financial executive, corporate director, author, speaker, and thought leader. His educational videos of accounting and finance have million of views on YouTube. He has keynoted and spoken at national conferences from New York to Toronto. Along with Jen, he co-hosts CPA Canada’s podcast series “CPA Success Podcast.” He works with real businesses experimenting with theories and best practices to share his experiences and stories with others of what works, what doesn’t, and what was learned. He is the author of The Illiterate Executive: An Executive’s Handbook for Mastering Financial Acumen.
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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
EG
Excellent presentation, speaker presented material in a very understandable way.
BW
Love instructors enthusiasm for helping us streamline the close process!
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