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accelerating the accounting close

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accelerating the accounting close

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									November 16 & 17, 2009, Toronto

Inaugural Two-Day Event!

ACCELERATING THE

ACCOUNTING CLOSE
Redesigning the closing process – driving speed and efficiency during the “last mile of finance”

Workshop Included: Developing a fast close action plan
participating organizations
Deloitte & Touche LLP Focus ROI Inc. FinEx Group Gennum Corporation Intact Financial Corporation OPSEU Pension Trust Performance Advantage Teva Novopharm Ltd.

who should attend
Vice-Presidents and Directors of Finance, Controllers, Auditors, Accountants

course highlights
• Learn from controllers and senior financial executives at OPSEU Pension Trust, Novopharm and others about what’s driving the need for faster closing and how to develop a faster closing strategy • Discover how to redesign the closing process from the ground up to achieve a faster close • Hear how Intact Financial developed their faster closing process through a structured approach supported by people, processes and technology • Learn how Gennum speeded up its closing process through use of software • Discover how to get the internal communications right when implementing a fast close process

as well as:

Course Leader Massood Oroomchi, FinEx Group

Kenneth P. Anderson, Intact Financial Corporation

Marcus Guenther, Focus ROI Inc.

Linda Herron, Gennum Corporation

Elliott M. Jacobson, Deloitte & Touche LLP

Jim Love, Performance Advantage

Ivan SimonRasiah, OPSEU Pension Trust

Dan Youtoff, Teva Novopharm Ltd.

FACULTY

COURSE LEADER
MASSOOD OROOMCHI
Massood Oroomchi specializes in Bill 198/ SOX compliance requirements, corporate governance, disclosure and internal controls, complex accounting and shareholder reporting, business risk assessment and business process optimization. As a founding member of FinEx Group, his clients include a full range of public and private companies across all industries from the largest to some of the smallest organizations.

CO-LECTURERS
KEN ANDERSON
Ken Anderson is Director of Financial Reporting & Capital Management at Intact Financial Corporation (formerly ING Canada Inc.) with responsibility for consolidation, regulatory and corporate capital management and public financial reporting. Prior to this, he held the position of Director, Accounting Services where he had responsibility for the entire accounting close process at Intact. when it merged with Mintz & Partners in 2008. He has lectured often on public company accounting and oversight topics.

JIM LOVE
Jim Love is Managing Partner of Performance Advantage, a management consulting firm focussing on helping clients make real, measurable and lasting gains in corporate performance. Prior to his involvement with Performance Advantage, he was Global Practice Leader at DMR Group (later Fujitsu consulting).

MARCUS GUENTHER
Marcus Guenther is Vice President of Focus ROI Inc., a company that provides orientation, planning and training services with regard to internal control certifications. He works with corporations and accounting firms to improve their corporate governance, workflow, use of automation tools and internal control.

IVAN SIMON-RASIAH
Ivan Simon-Rasiah is Controller at OPSEU Pension Trust and has extensive experience in the financial services industry.

LINDA HERRON
Linda Herron is Director, Accounting and Analysis at Gennum Corporation. She received her Certified General Accountant designation in 1991 and has held various positions in finance for 20 years.

DAN YOUTOFF
Dan Youtoff is Senior Director Corporate Accounting & Finance at Teva Novopharm Ltd., where he is involved in strategic planning and oversees all compliance matters for the company including accounting, tax, SarbanesOxley as well as parent company reporting. He is recognized for his accounting expertise and he avidly shares his knowledge with his internal customers to ensure their financial requirements are met.

ELLIOTT JACOBSON
Elliott Jacobson joined Mintz & Partners in 1989 and became a Partner in 1991. He became a Partner with Deloitte & Touche LLP

COURSE PROGRAM
INDUSTRY PANEL DISCUSSION: FASTER CLOSING WHAT’S DRIVING THE NEED AND HOW TO STEER FINANCE IN THE RIGHT DIRECTION
Pushed by regulatory bodies and investors, the need to complete the financial close quickly and with quality is emerging once again as a process improvement project that needs the full attention of corporate accounting staff. This discussion of senior financial executives details the current thinking of financial closing, including: · · · · Faster financial closing as a regulatory and investor imperative How to speed up the closing in an era of greater regulation How fast is fast? Streamlining the closing to free up time of accounting staff to focus on more value-added activities

OVERCOMING KEY CHALLENGES TO FASTER FINANCIAL CLOSING
Key challenges to faster financial closing tend to occur in three areas of the organization - processes, people and technology. Complicating matters is the fact that these barriers tend to occur both at the head office and business unit level and affect multiple teams and processes. · · · · Technical and accounting issues Information collection, transfer and manipulation Business organization Cultural issues within the organization

BENCHMARKING YOUR CURRENT PROCESS
In order to undertake improvements in the speed of financial closing, the organization must have a good idea of where its current closing process stands. Where can greater efficiencies be gained? Are there areas for improvement in certain processes as opposed to others? This discussion details: · · · · Conducting anas-isreview Mapping and documenting current processes Looking for opportunities during the process Engaging in a cost and benefits analysis

GETTING INTERNAL COMMUNICATIONS RIGHT DURING A FAST CLOSING
The typical group finance organization relies on a hotchpotch of informal communication methods to clarify issues or when things don’t add up. Unreconciled items, misclassifications, posting errors are often resolved by lengthy telephone calls and e-mail exchanges. This discussion details how to ensure smooth communication during the closing process, including · Using technology to overcome communication hurdles · Improving intradepartmental efficiencies through improved communication · Overcoming the problem of too many technologies and applications, supplemented by spreadsheets and a variety of manual steps

PROCESS TRANSFORMATION
Those who think that technology alone can speed up the close process lack only one vital characteristic  experience. Those who have found success have done so by transforming the underlying processes, leveraging technology and managing the people side of change. This discussion details: · Process redesign tools and techniques · Process and value mapping · Maintaining controls without sacrificing efficiency

PEOPLE AND CHANGE MANAGEMENT ISSUES
Getting the right procedures in place to ensure a faster close is only half the battle. Indeed, one of the most challenging aspects in making the switch to a faster closing involves getting finance staff to change the way the way they look at the closing and carry out their tasks. This discussion details: · Developing and leading a case for change · Managing resistance to change · Understanding the processes involved in managing change within accounting

IMPLEMENTING THE FAST CLOSE PROCESS
The endless array of tasks that make up the closing process and the lack of standardization across the enterprise make implementing a fast close process seem like a daunting task. However developing a structured approach with a rational methodology that is supported by people, processes and technology can simplify the process. · · · · Establishing a timetable Pre-close meetings Key closing processes Monitoring the close process

FASTER CLOSING WITHOUT COMPROMISING CONTROLS FOR CEO/CFO CERTIFICATION
The current regulatory landscape requires more relevant content within shorter time frames. At the same time, the CEO and CFO certification rules require certifying officers to continue certifying the effectiveness of disclosure and internal controls over financial reporting. This discussion details how to close faster without compromising controls for certification purposes, including: · Critical financial close controls that cannot be compromised · Roadmap to an accelerated close process within a compliant control environment · Establishment of monitoring controls for an expedited close process · Dealing with external audit requirements

SOFTWARE FOR IMPROVED FINANCIAL CLOSING AT GENNUM
Like most organizations, the financial close at Gennum was a laborious and exhausting process that was taking too much time. That was until the organization decided to revamp their approach to closing and added some new technology. Hear how Gennum shortened dramatically their closing, including: · How Gennum used technology to improve the speed and accuracy of financial closing · What technology choices were they faced with? · How to make the right software choice

WORKSHOP
DEVELOPING A FAST CLOSE ACTION PLAN
A fast close project, like any other corporate initiative, requires a structured approach with a methodology that is supported by people, processes and technology, is manageable, and has clear but realistic objectives. In other words, you need a detailed plan of action. · · · · · Identifying objectives Selecting key performance indicators Mapping the fast close process Allocating resources Implementing quick wins

STRIKING A BALANCE BETWEEN SPEED AND ACCURACY
Closing the books faster is of little use if the financial statements are inaccurate or misleading. The key is to strike a balance between speed and quality. This discussion details how to ensure a faster financial closing without compromising accuracy including: · · · · Identifying objectives in terms of speed and accuracy Expedited close practices Roadmap to an accelerated close process Selecting key performance indicators

MULTIMEDIA PRESENTATIONS
Register for Accelerating the Accounting Close and we will give you free of charge a CD-ROM comprising the following virtual presentations from recent Federated Press courses and conferences. Presented in their entirety with complete audio and accompanying PowerPoint slides totaling 779 minutes of expert learning, these presentations are an added bonus to this year’s course. Bear in mind that these presenters are not necessarily those that you will see and hear at this year’s course.
Financial Instruments: Recognition, Classification and Measurement Cynthia Yeung, Ernst & Young LLP Time: 58 Slides: 33 Other Comprehensive Income in Canadian GAAP Reporting Craig Cross, BDO Dunwoody LLP Time: 31 Slides: 20 Financial Instrument Disclosures Sona Ruparelia, BDO Dunwoody LLP Time: 48 Slides: 23 GAAP Accounting and Compliance: Differences Between Canada, the US and IFRS Ben Sencabaugh, Deloitte & Touche LLP Time: 64 Slides: 29 Panel Discussion: Identifying Embedded Derivatives and Accounting Treatment Barbara Yager & Faculty, KPMG LLP Time: 55 Accounting for Fair Value and Cash Flow Hedging Relationships Barbara Yager, KPMG LLP Time: 50 Slides: 41 Hedge Relationships: Practical Considerations for Eligibility and Ineffectiveness Diana H. Kurvers, Scotiabank Time: 76 Slides: 16 An Implementation Case Study: Meridian Credit Union Bill Maurin, Meridian Credit Union Time: 46 Slides: 40 AcSB Standards Update & the Adoption of International Financial Reporting Standards Karen Jones & Karen McCardle, Canadian Accounting Standards Board (AcSB) Time: 70 Slides: 34 Business Combinations and Accounting for Non-Controlling Interests Sylvie Léger, KPMG LLP Time: 71 Slides: 43 Cole & Partners Limited Time: 33 Slides: 21 Revenue Recognition: Making Sure Your Statements Comply Elliott M. Jacobson, Deloitte & Touche LLP Time: 79 Slides: 50 Valuing Acquisition Targets on a Stand Alone Basis Jamie Nagy, Genuity Capital Markets Time: 42 Slides: 28 Assessing Viability & Economic Dependency Andrew Armstrong, National Bank Financial Inc. Time: 34 Slides: 16 Bridging the Gap Between Legal and Finance: Best Practices Christ C. Wessel, Gowling Lafleur Henderson LLP Time: 22

Valuation for Financial Reporting Changes Are Coming Andrew Harington, Audio/Video segments clickable slide by slide Papers and overheads also included Print any of the material for your own use

PROCEEDINGS CD - ROM
Cancellation: Please note that non-attendance at the course does not entitle the registrant to a refund. In the event that a registrant becomes unable to attend following the deadline for cancellation, a substitute attendee may be delegated. Please notify Federated Press of any changes as soon as possible. Federated Press assumes no liability for changes in program content or speakers. A full refund of the attendance fee will be provided upon cancellation in writing received prior to November 3, 2009. No refunds will be issued after this date. Please note that a 15% service charge will be held in case of a cancellation. Discounts: Federated Press has special team discounts. Groups of 3 or more from the same organization receive a 10% discount. Groups of 7 or more from the same organization receive a 15% discount.

Registration: To reserve your place, call Federated Press toll-free at 1-800-363-0722. In Toronto, call (416) 665-6868 or fax to (416) 665-7733. Then mail your payment along with the registration form. Places are limited. Your reservation will be confirmed before the course. Location: Novotel Toronto Centre Hotel, 45 The Esplanade, Toronto, Ontario, M5E 1W2 Cost: The attendance fee for the course is $1825 per person and covers attendance for one person and the lecturers’ presentation material. The fee further includes lunch on the first day, morning coffee on both days and refreshments during all breaks. You may purchase a Proceedings CD-ROM containing edited actual proceedings and materials from the course. Time: This course is a two-day event. Registration begins at 8:00 a.m. The morning sessions start promptly at 9:00. The second day ends at 4:00 p.m.

Payment must be received prior to November 9, 2009

Phone: 1-800-363-0722

Toronto: (416) 665-6868

Fax: (416) 665-7733

TO REGISTER FOR ACCELERATING THE ACCOUNTING CLOSE
Name Title Approving Manager Name Approving Manager Title Organization Address City Telephone Please bill my credit card: # Signature : Payment enclosed: o Please invoice. PO Number: MAIL COMPLETED FORM WITH PAYMENT TO: Federated Press P.O. Box 4005, Station “A” Toronto, Ontario M5W 2Z8 Province Fax o AMEX Postal Code e-mail o VISA Expiration date: o Mastercard Department

REGISTRATION COSTS
NUMBER OF PARTICIPANTS: COURSE: $1825 COURSE + PROCEEDINGS CD-ROM: $1825 + $125 = $ 1950 PROCEEDINGS CD-ROM: $499 NOTE: Please add 5% GST to all prices.` Proceedings CD-ROM will be available 60 days after the course takes place Enclose your cheque payable to Federated Press in the amount of:

/
GST Reg. # R101755163 PBN#101755163PG0001
For additional delegates please duplicate this form and follow the normal registration process

WHEN CALLING, PLEASE MENTION PRIORITY CODE: AACT0911/E


								
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