1 CPE 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: March 26, 2024
63 Reviews (303 ratings)
Reviews
Anonymous
(Controller)
Some of Mr. Paul's suggestions on how to create a faster close seemed mostly common sense to me such as book recurring known items such as depreciation ahead of time. But he was on target with systems either helping or hurting your month end close process. That is huge. People's mind sets/getting buy in on creating new processes and/or new systems that talk to each other to me is what I really took away form this class.
Bryan Frey
(VP Finance/Corp Controller at -)
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).
Anonymous
(Sr Accountant Lead)
This is a basic course of what happens during the close process and steps to speed it up. As an Accountant, I now understand why management is constantly trying to shorten the close window. This is a good, quick course for everyone on all sides of the business to take and learn from.
Anonymous
(Treasury Director)
The instructor was very knowledgeable and was able to add real life experience to the lessons he was teaching. I particularly like the idea of looking at financial ratios and variances in budget/forecast, month over month actual, quarter over quarter actuals, and year over year actuals.
Anonymous
(Snr Accounting Consultant, CPA)
Professor Paul - thank you for this course. Being someone who performs the close processes at my company; I am grateful for the tips you have offered/illustrated. I learned additional tips that I will truly implement in my processes.
Anonymous
(Senior Accountant, Payroll)
This is a popular course topic, and I wasn't expecting a new perspective, but I was pleasantly surprised. I appreciate the way he chose to structure the material, and focus on concepts to consider and guide your thought process.
Anonymous
(Accountant)
The course was very helpful and informative. It was easy to follow and I will be able to use the information learned and use it in my daily work routine to assist me in being more proficient at my job.
Laura Reames
(Owner at Reames CPA Services)
This was offered in very simple terms, so information provided was easily understandable and still explained well. Reading the slides gave me a solid understanding of the topic and important points.
Anonymous
()
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.
Anonymous
(Owner)
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.
Anonymous
()
Great presentation. Super helpful. Great presentation. Super helpful. Great presentation. Super helpful. Great presentation. Super helpful. v\
Anonymous
(Plant Controller)
Speaker was monotone and did not really catch my interest. Presentation was okay but I found a lot of it to be common sense for accountants.
Inna Shmukler
(Controller at Fornetix LLC)
Very informative. Got some good tips to use. No real surprises. accounting managers, controllers would benefit from this course.
Anonymous
(Consultant)
Good course that offers some decent advice, processes and procedures that may be implemented to speed up the close process.
Anonymous
(Consulting Senior)
This course was relevant to real-life close process and a good introduction/starting point for less experienced accountants.
Crystal Sittser
(Experienced Manager at Wouch Maloney CPAs)
Jon covers the full spectrum of what's needed to accelerate the close process. Excellent information that is actionable.
Anonymous
(Sr. Accountant)
Course material common sense. However, the profession experience examples were beneficial to support the course material.
Anonymous
(Senior Accountant)
The last question is confusing. According to the slide of Key Correlations, Trailing 12 Month is a key correlation.
Lauren Bauer
(Accounting Manager at Signature Analytics)
Instructor gave good tips on speeding up the close and also gave good examples about the benefits of closing early.
Anonymous
(CPA)
Jon draws on his real world experiences to share some excellent insights into improving the closing process.
Keith Johnson
(Director SOX Compliance at Waterjet Holdings)
I liked the pragmatic discussion of what to either eliminate, reduce, or speed up, in the closing process.
Bryan Chamberlain
(Controller at N/A)
I really enjoyed learning about great strategies to accelerate the month end close process at any entity.
julien MAES
(Finacial manager at Osf Digital)
Nice course, focusing on main issues that accountant are facing, and proposing easy to apply solutions
Ara Toroyan
(Director - Financial Planning & Proc.. at NCCI Holdings, Inc.)
Decent class with interesting concepts. I don't know that they apply to all industries/cultures.
Anonymous
(Accountant II)
What you would expect for a foundation level course. The questions proved to be a nice refresher.
Anonymous
(Accounting Manager)
Some good ideas, including challenging the accounting estimate mind-set and getting aggressive.
Rod Streets
(Vice President - Finance at YESCO LLC)
Presenter has real-world experience that he shares to make the material memorable and relevant.
Anonymous
()
Good refresher on some principles of closing the books at month end. Thanks to the presenter.
Anonymous
(Senior Accounting Manager)
Good course for anyone in accounting to get an overview of how to shorten the close process.
Anonymous
(Finance and Accounting Consultant)
I enjoyed an informal style of the lecture. The course was a nice overview of the topic.
Jason Schlueter
(Sr. Director, Financial Accounting at Charter)
helpful to improve close timing. good insights on benefits of closing the books quicker.
Monique Simpson
(Director, Financial Reporting at ALR Life Reinsurance Ltd.)
This course was okay. I am not sure whether it can be a bit more dynamic/interesting.
Alicia brown
(Sr. Accountant at Hyperloop-One)
Pretty general. Good overview from a highlevel point of view. Not many visual examples
Christie Winstead
(Senior Accountant at First Choice)
The instructor was a bit boring. My mind tended to wander while watching the videsl
Anonymous
(Accountant)
Great course nd i found it to be very helpful in learning ways to a faster close.
Mark Quinn
(CFO at AlkemyX)
Excellent course to generate ideas to reduce the time needed to close each month
Audrey C
(Controller at Conveyco Mfg Co.)
Great teacher but talks way too slow and also distracting background noise.
Anonymous
(Senior Accountant)
Great topic and solid tips for the close process -- enjoyed the case study.
Anonymous
(Regional Controller)
Some of the content was more applicable than others. Overall good course.
Sam Lin
(VP Corporate Controller at RMG Networks)
Very informative especially around ways to execute and implementation.
Anonymous
(Auditor II)
It was hard for me to understand the instructor and follow the course.
Anonymous
(Accountant)
The course gave some good tips in how to speed up our month end close
Anonymous
(NA)
A few good points and things to recognize/look at before month-end.
Keia Wilson, CPA
(Senior Accountant at Cook Children's Health Care System)
This is an extremely high level view of how to execute a fast close.
Anonymous
(Vice President of Technical Accounting)
Course clear, thoughtful and persuasive. Exam not well-correlated.
Anonymous
(Owner)
course is well organized and offer steps you can apply to your job
Ivan Makarov
(Vice President of Finance at SmugMug)
Very useful material and content. The presenter was a bit bland.
Anonymous
(Controller)
A lot of good information was provided in a short period of time.
Anonymous
(Reinsurance Accounting Manager)
Great course with tips to accelerate monthly financial closings.
Anonymous
(FINANCE CONSULTANT)
The speaker was clear and concise in his presentation and tone.
Anonymous
(Senior Accountant)
Great course; lots of good ideas that I will put into practice.
Christopher Ledford
(Senior Corporate Accountant at Drake Enterprises)
A very concise overview of how to improve the month end process
Anonymous
(Accounting Professional)
Good - wish he had given examples of a journal entry log.
Anonymous
(VP Finance)
Good overview. Glad it reinforces what we've been doing!
Lilian Dendrinos
(consultant at DLC Group)
Lot of good suggestions. I highly recommend this class.
Anonymous
()
Concise, clearly communicated and illustrated.
Kurt Boehringer
(director of finance at abc)
the final exam was horrifically worded
Anonymous
(CFO)
well organized, easy to follow
Anonymous
(cfo - consultant)
very good suggestions
Anonymous
(Fiscal Officer)
valued course
Anonymous
(Partner and Chief Financial Officer)
Good course.
Anonymous
(Consultant)
ok.
Anonymous
(Controller for Americas BU)
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
.
Jon PaulPresident, Value Added Finance Resources
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