[Online 2-Day] FAST Closing Techniques (Monthly & Year-End Accounts)
Course Information
  • 02-Feb-2021
  • Online
  • Dr. Steven Liew
  • English
  • RM 980 RM 930
    Until 21 Jan 2021
  • 9:00am - 5:00pm
Fast Closing is vital to every finance transformation initiative. Organization are making transactional and manual tasks disappearing with automation, and analytical and judgmental tasks more intelligent. However, it is easier said than done. There are seemingly an endless stream of factors and touchpoints that make Fast Closing an illusion.

In order to be effective in Fast Closing – for both monthly & annual accounts, you need to have the financial management skills to problem solving. This course will help to provide you with the methodology and environment that stimulate proactive behavior in order to achieve greater goals for yourselves and your organization. By creating financial value for your organization, the benefits are immense. As an accounting professional, your expertise will be highly sought after. Drawing from his years of experience in the private sector, the trainer will shed light on how to make Fast Closing a reality. Real-current financial issues & cases will be analyzed, and scenario solutions will be provided.

By the end of this program, participants will be able to :-
• What is Fast Closing?
• Why Fast Closing Monthly & Year-End Accounts so difficult?
• Understand the Critical Roles of Finance Function
• Redesigning Finance Functions
• Implementing Process Improvement Project
• Redefining the Role of Finance Managers
• Pathways to Fast Closing

Case Study & Group Discussion. Real-current financial issues & cases will be analyzed, and scenario solutions will be discussed within the workshop.
NOTE: Please bring laptop along

Entrepreneurs, Bankers, Accountants, CFO, CEO, Business Managers, Finance Managers, Supervisors, and Managers


Date: 2-3 February 2021 (Tue - Wed)
Time: 9.00am - 5.00pm
Mode: Online/ Interactive


Special Offer (before 21 Jan 2021) - RM 930
Normal Fee - RM 980

>> Includes Course Notes, Certificate of Completion & 6% Service Tax

(i) 15% overriding discount for SST2u Loyalty Card members


Module 1: Understanding Fast Closing
• Fast closing definition
• Benefits of fast closing

Module 2: Discussion on Fast Closing - Burning Issues
• Most work done manually - no system
• Inadequate Document Flow
• Miscommunication leading to different data reports - budget issues
• Unknown Transactions from historical data
• Culture & Work Environment - no commitment
• Slow info received from subsidiaries
• System Migration - Data compilation during migration not yet complete
• Uneven Workload
• Outlets pass documents late
• Interface of revenue from billing system to ERP System

Module 3: Fast Closing Discussion
• Shortening month end closing
• Systematic ways of closing the accounts
• Performing minimum adjustments to closing of accounts
• Redesigning a simple finance accounting cycle
• Enhancing proactiveness of Finance Division in terms of budgeting, forecasting & advisory roles
• Exploring ways to control & manage the cash flow

Module 4: Fast Closing Contribution to The Organization’s Bottom Line
• Asset Conversion
• Collection
• Cost Reduction
• Revenues
• Purchasing Policy

Module 5: Discussion on Account Payable
• Timely payment due incomplete documents
• Receiving invoices late from vendor/outlets
• PO not stated on the invoice
• Timely closing of AP/accruals
• PO issued but invoice never reached AP
• Cancellation of PO was never informed
• Changes in price quoted was not informed
• Invoices do not issue/received

Module 6: Success Stories of Fast Closing & Best Practices (Case Studies)
• Cisco’s (USA): Virtual Closing
• JC Penney (USA): Deploying Concur Expense on The Company Intranet
• Case Corp (USA) Industry heavy equipment (construction), agricultural machinery
• IBM (USA): Multinational technology and consulting corporation
• Lord Corp (USA) Transportation: Automotive, Agriculture, Marine, Aerospace, Defense, Manufacturing
• Owens Corning (USA): World's largest manufacturer of fiberglass and related products
• Ford Motor (USA): Multinational automaker
• EDS (USA): Conferences & Training

Module 7: Improving the Finance Process
• Removing non-value-added work
• Reducing the cost of required transaction processing
• Eliminating errors that create costly rework
• Employing technology to reduce the time, effort, cost, and complexity of finance work

Certified HRDF Trainer

Dr Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD in international finance with Rushmore University of USA.

Dr Liew had worked in private sector companies, ranging from family-run businesses to professionally manage multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 30 years working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF Finance & its related group of companies over the 10 years’ period.
He is a registered Trainer with the Government Human Resources Development Berhad (Pembangunan Sumber Manusia Berhad) and a GST Tax Consultant.

Dr Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle, IQPC Worldwide Pte Ltd, Singapore, Lexis Nexis, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation , Ministry of Development, Brunei , BICPA Asean Management, Brunei, Risda Group Of Companies, Sales & Marketing Training Forum, Sri Lanka, Giant Retail Sdn Bhd, Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd, Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd, Sony Malaysia Sdn Bhd, Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance; Seccom Sdn Bhd; Bridgestone Chemical Products (M) sdn Bhd; Dialog Group Bhd; SEDCO, KK; Hosiden Electronics (M) Sdn Bhd; STO Maldives; Indah Water Consortium Sdn Bhd; CPA Australia (M) Sdn Bhd.

He is currently providing management consultancy and training specialising in Forecasting, Fast closing monthly, leadership, Strategic Planning, budgeting, accounting, finance, cost reduction, credit management & loan recovery.


Enquiry: SSTcourse@gmail.com
- Teo (011 - 3178 9203)
- Logesh (012 - 503 0346)
- Siti (012 - 383 8603)
- Han (019 - 323 0507)