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In sports, the manager knows the score right at the moment and can make adjustments on the spot. Yet in business, we can be well into a month before we know how last month went. In finance, we can feel like we move from one month close to the next, with little time in-between to analyze and improve results. Fortunately, that can change with leadership and knowledge.

In this course you learn how to approach your closing process differently and come up with a number of ways you might speed up your process. Learn how to prepare ahead for the month's end, along with techniques to make sure your numbers are more accurate, while coming out even faster. Less time closing means more time for strategic, value-add opportunities to advance your company and your career. This course walks you through a real-world example at a pharmaceutical firm that transformed its operations to report numbers the first morning after month-end after previously being many weeks behind in their financials.

Learning Objectives

  • Specify why a fast close is important and build the mindset needed from your president, staff, company and suppliers to get buy-in for a faster close
  • Identify new ways to look at your closing process and come up with ideas to speed up your most challenging processes and toughest numbers to generate
  • Establish where to look during the month and what to generate in your final review so you can be both fast and accurate without getting blindsided by surprises later
  • Free yourself and your team for more time afterwards to work on improving results and raise the value you provide to the overall organization
Last updated/reviewed: June 06, 2018

29 Reviews (132 ratings)Reviews

4
Member's Profile
I really enjoyed this course. The instructor is a bit monotone, but the content was useful and includes specific steps and strategies for accelerating the close. A number of his suggestions are practical and timely and I'm going to try them with my team for some quick wins. There are some longer term, more structural strategies which are good food for thought, but will take greater consideration and planning (and time).
1
Anonymous Author
Some information was useful, but unfortunately overall I struggled to take the information in - the presenter, though very knowledgeable, was not captivating enough for me.
4
Anonymous Author
Since most of my background is in public accounting this course was very helpful in acclimating me to the private accounting side of business operations.
4
Anonymous Author
The last question is confusing. According to the slide of Key Correlations, Trailing 12 Month is a key correlation.
4
Anonymous Author
Jon draws on his real world experiences to share some excellent insights into improving the closing process.
5
Member's Profile
I liked the pragmatic discussion of what to either eliminate, reduce, or speed up, in the closing process.
3
Member's Profile
Decent class with interesting concepts. I don't know that they apply to all industries/cultures.
5
Member's Profile
Presenter has real-world experience that he shares to make the material memorable and relevant.
Member's Profile
This course was okay. I am not sure whether it can be a bit more dynamic/interesting.
3
Member's Profile
The instructor was a bit boring. My mind tended to wander while watching the videsl
3
Member's Profile
Great teacher but talks way too slow and also distracting background noise.
3
Anonymous Author
A few good points and things to recognize/look at before month-end.
4
Member's Profile
This is an extremely high level view of how to execute a fast close.
3
Member's Profile
Course clear, thoughtful and persuasive. Exam not well-correlated.
4
Member's Profile
Very useful material and content. The presenter was a bit bland.
5
Anonymous Author
The speaker was clear and concise in his presentation and tone.
5
Anonymous Author
Great course; lots of good ideas that I will put into practice.
5
Member's Profile
A very concise overview of how to improve the month end process
4
Anonymous Author
Good - wish he had given examples of a journal entry log.
5
Anonymous Author
Good overview. Glad it reinforces what we've been doing!
4
Member's Profile
Lot of good suggestions. I highly recommend this class.
5
Anonymous Author
Concise, clearly communicated and illustrated.
Member's Profile
the final exam was horrifically worded
5
Anonymous Author
well organized, easy to follow
3
Anonymous Author
very good suggestions
4
Anonymous Author
valued course
4
Anonymous Author
Good course.
4
Anonymous Author
ok.
3
Anonymous Author
ok

Prerequisites

Course Complexity: Intermediate

Prerequisite: Exposure to corporate accounting

 

Advanced Preparation: None

 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
The Fast Close Mindset and Process
  4:39The Fast Close Mindset
  8:26Building Your Fast Close Process and The Role of Excel
Execution Steps
  7:08Executing the Fast Close
Implementation and Conclusion
  5:47Implementing The Fast Close
  6:07Case Study
CONCLUSION
  3:14Final Comments
Continuous Play
  36:52Speed Up Your Close Full Video
SUPPORTING MATERIALS
  PDFSlides: Speed Up Your Close
  PDFSpeed Up Your Close Glossary/Index
  PDFTop 10 fast financials
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM