Day 1Understanding the Closing Process
Applied activity: Participants will analyse a fictional company's month-end closing process to identify inefficiencies and suggest improvements. They will work in groups to discuss their findings and propose a streamlined approach, focusing on specific tasks that can be expedited.
Output: A report detailing identified bottlenecks and proposed solutions, including a revised closing timeline.
- 09:00–09:54Overview of month-end and year-end closing processes, including key timelines.
- 09:54–10:48Key financial statements involved in the closing, such as balance sheets and income statements.
- 10:48–11:00Common challenges faced during the closing period and their implications.
- 11:00–11:30Coffee break
- 11:30–12:12Common challenges faced during the closing period and their implications. (continued)
- 12:12–13:06Best practices for effective financial closures to ensure accuracy and compliance.
- 13:06–14:00Introduction to tools that aid in the closing process, including software and checklists.




