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Enrolled:
678
Duration: 1 Hour
Level: Intermediate
Access This Course: Instant Access to Course Library

The pressure on the finance function has never been higher to deliver financial results as soon as possible after the period.  Managers, analysts, Boards, and investors are digesting market information in real time and are beginning to expect the same of 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.

In this course Blair Cook, a many-time CFO, explores 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.

Learning Objectives

  • Identify factors that slow down the financial close process
  • Discover how to develop strategies for speeding up the financial close process.
  • Discover how to develop a plan for implementing improvements to the financial close process using change management principles.

132 Reviews (413 ratings)Reviews

4
Member's Profile
Useful
3
Anonymous Author
For all of these courses it would be helpful to see which exam questions were incorrect and why.
5
Member's Profile
Nice summary.
4
Anonymous Author
informative
5
Member's Profile
Good, Common Sense advice.
5
Member's Profile
Very good ideas and information.
5
Member's Profile
Everyone in our department should take this.
4
Member's Profile
NA
4
Member's Profile
Very informative
4
Anonymous Author
Good Ideas.
5
Anonymous Author
Pretty cool
3
Member's Profile
intesting
5
Member's Profile
Very practical presentation. Emphasis on process and implementation was excellent.
4
Member's Profile
Creative ways of thinking built on real world experience
5
Member's Profile
Glad to know a few new tips on closing.
5
Member's Profile
tips on change mangement and how to shorten the closing process
4
Anonymous Author
short and to the point
4
Member's Profile
good
5
Anonymous Author
The course is short and good.
5
Anonymous Author
This course would be helpful for those who are unfamiliar with a financial close.
5
Member's Profile
The presenter was great and the information was detailed. I will definitely apply what he said at our business.
5
Anonymous Author
Short sharp and succinct Videos
4
Member's Profile
A lot of good points are made in shortening the close process.
5
Anonymous Author
Good ideas to speed up the close.
5
Anonymous Author
Direct and to the point with some good ideas along the way.
5
Anonymous Author
Excellent, compelling presentation. The notes are a great handbook for improving the close process.
4
Anonymous Author
Good presenter - brought the subject matter to life
5
Anonymous Author
Great job, very concise and informative.
5
Anonymous Author
Discovering what processes we can begin before month-end arrives would be beneficial.
4
Anonymous Author
Good overview. More real life examples would help in the change management process.
5
Member's Profile
Blair is a great teacher. He hits the essential points.
4
Member's Profile
Course had good content but the first video did not stream very well (other videos were fine).
5
Member's Profile
This course contained helpful and practical information.
5
Anonymous Author
Good.
5
Member's Profile
Good content and ideas to apply to your business
5
Member's Profile
highly structured approach as well as good ideas, especially i like 5 ideas of expense cut-off challenge
3
Member's Profile
Pretty basic information
4
Anonymous Author
Good course with some surprising insights into how to adjust viewpoints and how to progress to ensure a quicker close.
Member's Profile
Good viewpoints
4
Anonymous Author
.
5
Member's Profile
Very inspiring.
5
Member's Profile
Good!
5
Member's Profile
Lively presentation, theory is supported by steps backed by great examples!
2
Anonymous Author
The instructor sounded like shouting.
5
Member's Profile
Very good insight and ideas for consideration
4
Member's Profile
The instructor was entertaining and easy to listen to
5
Member's Profile
Excellent presentation. Learned quite a bit in short time
5
Anonymous Author
The information and materials used are very adequate to the course.
5
Member's Profile
Blair is a great instructor. Thoroughly enjoy all of his courses.
4
Anonymous Author
Simple
5
Member's Profile
The course help me to organize the process in my work
4
Anonymous Author
Got new ideas to implement
5
Member's Profile
Great course. My favorite part was having the first 4 steps of the change management process described as "thawing the organization for change". Lots of practical ideas for how to improve the close process. This course would benefit finance leaders, managers, process owners, and change managers.
3
Anonymous Author
a bit slow
4
Anonymous Author
Excellent
4
Anonymous Author
good course
5
Member's Profile
Helpful
5
Member's Profile
Useful information delivered in an engaging way. Top notch instructor and course!
5
Anonymous Author
Informative class.
5
Member's Profile
People Management
5
Member's Profile
Very helpful
5
Anonymous Author
Great course. Blair is an engaging speaker and moved through the information at a good pace. This would be an excellent course to share with an accounting group in a team meeting.
5
Anonymous Author
Great ideas!
5
Anonymous Author
Great and quick synopsis around the area of month end financial close.
5
Member's Profile
great guidance and insight
5
Anonymous Author
Very Informative
3
Member's Profile
I did not like his voice. Most of what he said was good and I was happy to know that my organization was already doing most of it.
4
Anonymous Author
Love the point ideas provided in the course.
4
Anonymous Author
good ideas for analyzing my organization's financial close
4
Member's Profile
Well scripted and presented Course
4
Anonymous Author
Good high level overview
4
Member's Profile
Informative course. There were some good ideas to bring back to the accounting team to improve our close time.
4
Anonymous Author
Very good suggestions!
5
Member's Profile
Great!
5
Member's Profile
Great Class!! Great Instructor!!
4
Anonymous Author
The breakdown of the course into different lessons is good. The topics covered in each lesson are very helpful and very practical and the time allotted to each lesson is just about right. This course is definitely helpful to the people that are involved in financial statement close process.
4
Anonymous Author
good ideas
5
Anonymous Author
Great course
4
Member's Profile
The course was very informative and there were some really solid points discussed.
4
Member's Profile
A lot of good ideas packed into an hour- everything you need to start down the path of shortening your close process.
4
Anonymous Author
Good ideas for all company sizes, looking forward to implementing some new things
5
Member's Profile
Absolutely liked the course. Super relevant to my work. Tons of detailed tips and recommendations. Loved the pace, loved the way it was presented and backed by providing pdf material! Can't wait to do more courses on Proformative :)
5
Member's Profile
Good information at a good pace. Very informative with many implementable suggestions.
4
Member's Profile
I like this course because it was straightforward, gave a lot of valuable information and had user-friendly methods of taking the exam.
5
Anonymous Author
Practical, insightful, entertaining. Great lesson.
4
Member's Profile
I liked the areas identified to work on the close before the period end. There were no surprises. The Accounts Manager would get the most from this course.
5
Member's Profile
Very well-written and contains good information on achieving a quicker / better financial close. Also incorporates a very good approach to Change Management, which is crucial to being effective with such initiatives. Thanks Blair!
5
Anonymous Author
Good tips for a speedy close...
4
Anonymous Author
Good recommendations for speeding up the closing process
5
Anonymous Author
Great course and good outline to develop plan for a "fast close."
5
Anonymous Author
Very informative and really does help to put in place ideas that could lead to an improved close.
4
Member's Profile
Excellent course
5
Member's Profile
Great course, giving a lot of good and practical points to bring about a faster and efficient close.
4
Anonymous Author
Many good ideas.
4
Anonymous Author
It was a very good course
5
Anonymous Author
Awesome!
5
Member's Profile
Great course!
5
Member's Profile
Helpful for any company to achieve a value-adding accounting dept.
4
Anonymous Author
Straight forward course.
5
Anonymous Author
Blair Cook is a great course instructor and course is valuable
4
Member's Profile
All accountants involved in reporting. The course felt so practical to me. Thanks
5
Member's Profile
I liked the different ideas it had for finding ways to minimize the close time.
4
Member's Profile
Good balance of actual ideas and process with key stakeholders.
4
Member's Profile
Good course. Very insightful. Instructor is very engaging.
5
Anonymous Author
Practical and useful class.
5
Member's Profile
I especially appreciated the change management discussion.
3
Anonymous Author
Best audience would be for acct department managers
5
Member's Profile
Great points that are very pragmatic.
5
Member's Profile
Great streamlining ideas.
5
Member's Profile
this course was excellent. well structured, easy to follow and content rich.
5
Anonymous Author
tips for closing earlier
4
Anonymous Author
Excellent!
5
Member's Profile
Good suggestions.
4
Anonymous Author
Great thoughts on beginning month close before month end. Will use this in the future
4
Member's Profile
This course was a mouthful. It was very informative and is definitely a course I should review. Blair was amazing in his presentation - his upbeat approach kept me engaged and yearning for more. That course would do many in an organization a lot of good. The level of involvement of all the departments within an organization in the closing process may certainly make for the success of that organization both in the short-term and long-term run.
5
Member's Profile
Blair Cook is awesome!
4
Member's Profile
I liked the ideas presented especially knowing that a faster close initiation is never fun.
3
Anonymous Author
Liked the suggestions for doing a fast close. Disliked some of the technology based solutions which may not fit within budgetary guidelines. Best for Managers that can influence changes to the financial close process.
5
Anonymous Author
very satisfied with the course. for i have learnt a lot. Financial officers and accountant
4
Member's Profile
A shorter close should not compromise material accuracy, and gives more time for analysis and forecasting
5
Member's Profile
good concepts
5
Anonymous Author
Good information and no non sense presentation.
5
Anonymous Author
Very matter of fact and relevant to a current project I am working on now.
5
Member's Profile
Makes all the important points on implementing a faster close. From my personal experience, employee resistance to change is even more of a factor than it was represented as.
4
Anonymous Author
Good introductory course.
5
Anonymous Author
Good overview and insights
4
Member's Profile
some good ideas/ best part was the detailed step of how to implement change.
5
Anonymous Author
Great course for anyone who works in corporate accounting. The topics covered are relevant to the month end close process.
5
Member's Profile
Very good course. I particularly appreciate the weight given to emphasizing change management practices and preparing the company for the change - too often this is missed and, as his metrics show, the outcomes are weak.
5
Anonymous Author
helpful course
5
Member's Profile
Thank you very much for the valuable course.
5
Anonymous Author
An excellent course which I will use in my new job which I am about to start. I will go back and review this course often.

Prerequisites

Prerequisite: An understanding of accounting.

Prerequisite: Exposure to the financial close process.

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 ext. 106, or send an e-mail to .

2 QuestionsCourse Questions and Answers

User picture

Good job! Do you have any tips on efficiently reviewing the books? i.e. making sure that transactions were recorded to the correct accounts?

Instructor
Member's Profile

Process and technology solutions work the best. Make it virtually fool proof that transactions get entered into the wrong accounts. If that isn't realistic, take the time to train people to self-review their own work as they go. Use guides and control totals whenever possible.

Course Syllabus
INTRODUCTION AND OVERVIEW
A Quicker Financial Close
  4:57Bottlenecks in the close process
  17:59Ideas for achieving the fast close
  18:04Making it happen
CONCLUSION
  3:43Conclusions
Continuous Play
  50:01Best Practices for a Quicker Financial Close
SUPPORTING MATERIALS
  PDFSlides: Best Practices for a Quicker Financial Close
  PDFBest Practices for a Quicker Financial Close Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM