Learning Objectives

• Understand the closing account process and its importance

• Implement best practices for an efficient month-end and year-end close

• Use automation tools to streamline the closing process

• Ensure accuracy and compliance during the closing process

Training Program Engagement

Introduction to the Closing Account Process

• The importance of a smooth closing process

• Common challenges and bottlenecks in closing accounts

• Overview of the month-end and year-end close

• Quiz: Identify key elements of an efficient close process

Preparation for Closing Accounts

• Preparing the trial balance and supporting documentation

• Reconciling accounts: Best practices for accuracy

• Identifying and resolving discrepancies before closing

• Practical case: Prepare for a month-end close in a mid-sized company

Review and Finalization of Accounts

• Reviewing accounts for accuracy and completeness

• Finalizing adjustments and journal entries

• Handling accruals, deferrals, and provisions

• Practical case: Finalize the year-end accounts for a retail company

Automation in the Closing Process

• Using ERP systems and financial software for faster closing

• Automating reconciliations and reporting

• Best practices for reducing manual interventions

• Practical case: Implement automation tools to speed up the closing process

Compliance and Reporting

• Ensuring compliance with accounting standards during the close

• Reporting requirements: Statutory accounts, tax reporting, and more

• Best practices for audit preparation during closing

• Practical case: Prepare a closing report for external auditors

Key Points

• Numerous practical examples illustrating the different studied concepts

• Practical cases to draw parallels with the concepts learned

Who is this training for

• Accountants and financial controllers

• Finance managers responsible for closing accounts

• Auditors and compliance officers

• Professionals involved in financial reporting and year-end processes

Prerequisities

• Basic knowledge of financial reporting and accounting procedures

Teaching Methods

• Training structured around skill transfer

• Acquisition of operational skills through practice and experimentation

• Collaborative learning during synchronous sessions

• Multi-stage learning path to allow engagement, learning, and transfer

• Training promoting participant engagement for better anchoring of lessons

Satisfaction and Evaluation

• Skill evaluation will be conducted throughout the training by the participant (self-evaluation) and/or the trainer according to the training methods.

• Online training evaluation on your participant space:

  • Immediate evaluation at the end of the training to measure your satisfaction and perception of skill improvement against training objectives. With your agreement, your overall rating and comments will be published on our site via Verified Reviews.

  • Post-training evaluation 40 days later to validate the transfer of your acquired skills in the workplace

• Attendance tracking and issuance of an individual training certificate or a certificate of completion