Webcast description

In these economically troubled times the finance team needs to lead from the front. To do this they need to free up time from the accounting routines so they can be active business partners with management.

Finance teams around the world are spending far too much time on month-end reporting, where the real decision-based reports are those issued daily and weekly. In other words, telling management the horse has bolted after month end is too late. David Parmenter has yet to find an organization that cannot achieve Day Three reporting if they apply his methodology, developed from the better practices of hundreds of fast-reporting organizations.

In this webcast, David will explain that virtual reporting (reporting the net result at any point in time during the month) and Day One reporting are being achieved by some leading organizations around the world. While Day One reporting may not be a goal you wish to achieve, Day Three reporting may well be. Attending this webcast will provide an impetus to shorten your month-end reporting process. Moving to quick reporting will have a profound impact on how finance is perceived in the organization, on morale and job satisfaction within the finance team, and will free the finance team to look into the future instead of being the organization’s historians.

• recall the better month-end routines
• undertake the immediate steps before next month-end reports are to be prepared
• sell the need to change through the emotional drivers of management and the budget holders
• eliminate unnecessary routines that are slowing the reporting process

Presentation outline  

• Review case studies on quick month-end reporting (Day One and virtual closing)
• The steps for quick month-end processes next month will be covered in detail including: 
• The reporting rules within the finance team
• Ban spring cleaning at month end
• How to avoid high processing of AP invoices at month end
• How to avoid late month-end inter-company adjustments
• The steps to ensure an early closing of the accounts payable ledger, accruals, accounts receivables, capital expenditure, and inventory
• The key tasks from 5 p.m. last day to 5 p.m. first working day
• The flash report of the expected month-end numbers at the end of day one
• The key tasks from 5 p.m. first working day to the final report
• The importance of selling the change to management and budget holders

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David Parmenter is a writer, speaker, and facilitator. He helps organizations measure, report, and improve performance. His work on KPIs is now recognized internationally as a breakthrough in the understanding on how to make performance measures work. His book titled Key Performance Indicators: Developing, Implementing, and Using Winning KPIs, published by John Wiley & Sons Inc., is now one of the top 10 performance management books on Amazon. His many articles have been published widely in leading management journals. 

David has presented workshops and master classes on KPIs around the world. His speaking engagements include Ireland, Scotland, England, Czech Republic, Oman, Saudi Arabia, Iran, Malaysia, Singapore, South Africa, Australia, and New Zealand. 

He has also worked for Ernst & Young, BP Oil Ltd, Arthur Andersen, and Price Waterhouse. David is a fellow of the Institute of Chartered Accountants in England and Wales.

 
davidparmenter.com