If your month-end reporting process is not a source of pride, if it is in fact a frustrating time stressing out your accounting team and your budget-holders, help is at hand.  David Parmenter has developed an in-house workshop that guarantees a payback in time savings many times the workshop cost.

This workshop which will save many times the fee in the next months and years to come. Yes, I would be delighted to help.

I attach a draft outline of the one day workshop and a couple of articles that will help sell the process.  I am happy to tailor the course once confirmation of fees is received.

Here are the facts:

  • An Iconic event centre in Sydney cut it month-end from over 12 days down to 3 days on their second month-end post the course
  • Major Australian radio conglomerate cut from 8 to 2.5 days the next month-end’s reporting process
  • A NZ government ministry is already  on its journey to month-end reporting by working day 3.
  • A NZ university has cut its month-end from 8 to 4 working days inside 2 month ends post the course

Here are some testimonials:

David hosted an in house session with our financial and management accountants to promote and plan for faster month end accounting. His enthusiasm quickly had everyone rolling up their sleeves and engaging in the process of identifying positive streamlining ideas and unnecessary month end tasks. With the benefits of an accelerated close well communicated, the team closed the session with detailed plans to implement within two months. Such was the team determination that two months later the accelerated plan was in place, trial balance on day 1, full management reports, including variance commentary and forecasts, by day 4.

Wayne Morgan, CFO Victoria University of Wellington

David facilitated meaningful discussion amongst the group and helped us generate our own ideas for improvement. We identified unnecessary tasks that we have been performing and ways in which we can efficiently obtain information from different sources. Our current practices and negativity were continually challenged and our minds were opened to believing that what  seems impossible now is in fact possible. The training had a very practical and participatory feel. We walked out of the training with open minds, a practical plan and dedication to implementing Day 1 reporting and process improvement.

Kara Schliebs, Financial Controller, DMG Radio Australia Pty Ltd

I was fortunate enough to attend the ‘Quick month end’ workshop you presented at the Toyota National Accountants Conference 2011 in April. Your presentation had a profound effect on the way I approached a month end, not only was it engaging and enlightening but it was relevant and most changes could be actioned immediately.

As a result, I returned to work after the conference with a renewed sense of purpose, immediately won Director support and subsequently transformed our reporting timeframe around from workday 10-11 to day 2 within 1 week!!

I look forward to the prospect of attending another of your presentations in the future.

Sheila Melton, Accountant, Airport Toyota

If you are interested in getting your month-end reporting process down to day three, or if you are already at day three and want to shave-off another day or two, it would be worth running this workshop soon.

The process

  • email or ring me to confirm
  • we will discuss your needs and I will tailor the one day workshop to meet these needs
  • organise for all the accounting team to be present, a knowledgeable representative from other teams involved in month end such as payroll, IT, operations etc
  • I prepare the presentations and workshop material (instructions, handouts)
  • a team of two are trained in the process
  • the workshop is broken into 2 or 3 webinars, will all the team gathered in one room.
  • someone is assigned to be the workshop secretary to take down notes
  • the workshop will be focused around making the month end reporting more efficient through exploring how organisations are reporting in short time frames (between working day one and day three). In addition it will cover ways to improve reporting and client management.
  • during the workshop there will be many breakout sessions where teams will look at different aspects
  • a focus will be getting participants to take on responsibility for actions in a group setting – this helps lock in commitment
  • we need a venue away from the offices with data show, screen, lapel microphone if numbers are over 40, It will be a fun, team building and participative workshop.

The workshop agenda

Agenda for workshop

Date & Time:  15th June 9am

Location: xxxxxxxx

Suggested attendees: All those involved in month-end including accounts payable, financial and management accountants, representatives from teams interface with month-end routines, e.g. Someone from IT, payroll etc)

Learning Outcomes:  Attendees, after this workshop, will be able to:

  • discuss and explain why ______ should have quicker M/E reporting
  • implement the steps required to move month-end reporting back to day3 or less
  • describe better practice month-end routines
  • recall all agreements made at the workshop (these will be documented)

Equipment:  one laptop to every 5 attendees.

Administrator: one attendee to document all agreements made.

 

9.00 am Welcome by Financial Controller
9.10 Step 1: setting the scene– A review of better practices among accounting teams, that are delivering swift reporting, topics covered include:

  • what is quick reporting?
  • benefits of quick reporting to management and the finance team
  • better practice month-end procedures – stories
  • the current performance gap between ______ and better practice
  • precision Vs timeliness
  • latest developments – day one reporting and virtual closing

Senior management, and a selection of budget holders ( who are based locally) will be invited to attend this session “setting the scene”
10.05 Step 2:Workshop 1 on when activities should start and finish. The separate teams look at the different issues (we will cover month-end close-off of the various teams, listing bottlenecks within and between teams, reporting and forecasting issues, reconciliation issues etc)
10.30 Morning break
10.45 Step 3:Workshop 2 to analyse the month-end procedures using Post-its (AP -Yellow, AR – Green, Production – Red, Financial Accounting team – Blue, MA Team – Etc)
12.30pm Lunch
1.15pm Step 3:Workshop 2 to analyse the month-end procedures using Post-its (continues).  Participants will document agreed changes and individuals will be encouraged to take responsibility for implementing the steps
2.00pm The changes one can make in the next 6 months to month-ending reporting
2.30 pm Afternoon break
2.45 pm Implement a quick month end – the implementation plan, the issues to look at.  The impact on reporting and annual planning.
3.15 pm Step 4:Workshop 3 each team sets out the appropriate implementation steps to implement quick reporting.  Each team prepares a short presentation of the key steps they are committed to making (teams will use PowerPoint on laptops)
4.00pm Step 5: Each team presents to the group what changes they are going to implement and when.  They can also raise any issues they still have. Those SMT and BHs who attended the first session will be invited to attend this session
4.45pm Wrap up of workshop by Financial Controller
5.00 pm Finish

Running the workshop

I can help you by delivering the one  day in-house course via two or three webinars with inhouse trained staff overseeing the workshops.

Please complete the inquiry form to progress your request for assistance.