10 Best Practices to Improve Your Fiscal Closing Process

Instructor: Chris Doxey
Product ID: 704580
  • Duration: 90 Min
Regardless of company size or complexity, all successful financial close processes require continuous communication, comprehensive documentation and a flexible, responsive organization. This training program will focus on 10 critical methods that you can use to dramatically improve your Record to Report (R2R) process. The R2R or Financial Closing Process is the centerpiece of the controllership function. This program will examine the process that ranges from transaction processing through internal and external reporting, and it incorporates everything from internal controls, the corporate organizational hierarchy - its people, processes, and technology.
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Why Should You Attend:

CFOs, controllers, and corporate finance departments often find themselves in the eye of today’s market whirlwinds with both internal and external reporting requirements to fulfill. Timely, accurate, and consistent data is always of critical importance and operational and strategic decisions are based upon it and precise planning depends upon it. Statutory, regulatory, and compliance requirements add yet another layer of complexity. Global organizations are required to support reporting with multiple accounting standards, and new legislation requires new systems and processes. The information age has created a class of investors and shareholders who expect fast and easy access to the data created by current business activities.

The degree to which recommendations are implemented will vary based on company size, type of industry, availability of resources, maturity, and management commitment. This webinar will present both strategic and tactical suggestions that can help dramatically improve your monthly closing process. The instructor will provide best practice solutions to prevent getting overloaded by an overabundance of internal controls and suggested metrics.

Areas Covered in the Webinar:

  • Define the Record to Report (R2R) Process Flow
  • Identify KPIs for the R2R Process
  • Determine the Bottlenecks Within Your Financial Close Process
  • 10 Best Practices to Improve Your Fiscal Closing Process
  • Develop a Financial Close Scorecard
  • Define a R2R Benchmarking Approach
  • Q&A

Who Will Benefit:

  • CFOs
  • Controllers
  • Corporate finance and accounting executives
  • Directors of shared services
  • All those responsible for the financial closing process

Instructor Profile:

Chris Doxey, CAPP, CCSA, CICA, CPC, spent most of her career implementing leadership teams and processes in her quest to fight fraud and implement internal controls at Digital Equipment Corporation, Compaq Computer Corporation, and Hewlett Packard. She held senior finance and accounting positions which allowed her to develop and implement standards of internal control for all aspects of financial operations – focusing on the procure to pay (P2P) process. She was recruited to assist WorldCom (MCI) with the implementation of internal controls, policies, and corporate governance in 2003. She developed a program for entity level internal controls, developed ethics training plans and programs, implemented delegation of authority and segregation of duties policies, and systems access controls.

Ms. Doxey uses her background and passion as a management consultant and helps her clients implement internal controls and leading practices across financial operations. She also developed the controller's certification program for the Institute of Finance and Management (IOFM) and the certified procure to pay (P2P) professional program for PayStream Advisors. She is a published author and sought after speaker. She also writes articles, blogs, and whitepapers for professional organizations and solution providers and provides several webinars and presentations throughout the year.

She holds a BA in English, a BS in Accounting, a Master’s in Business Administration, and a Graduate Certificate in Project Management. She is a Certified Accounts Payable Professional (CAPP), holds a Certification in Controls Self-Assessment (CSA), is a Certified Internal Controls Auditor (CICA), and is a Certified Professional Controller (CPC).

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Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

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