Helping organisations measure, report, and improve performance
Featured White papers For Sale
David Parmenter sells a number of white papers based on ‘How-To Implement…’ designed for the corporate accountant who wants to make a difference. These guides give you the A-to-Z steps to implementing practices from winning finance teams. All papers are supported with additional electronic material.
Be sure to check out his newest white paper: Conquest Management - Winning Management Practices
David Parmenter’s Blog
David has his own blog over at davidparmenter.com. Be sure to leave a comment or ask any questions you have as David will respond to them on a regular basis.
David Parmenter’s Books
Key Performance Indicators: Developing, Implementing, and Using Winning KPIs
Get it from amazon.com
Pareto’s 80/20 rule for corporate accountants
Get it from amazon.com
Upcoming Workshops
For 2010, David Parmenter has confirmed speaking events in a number of countries. A full list is available here.
Learning Outcomes
Attendees after this workshop will be able to:
- Discuss and explain to management why their organisation should have quicker month-end reporting
- Use better practices to streamline their current bottlenecks
- Describe better practice month-end routines
- Recall all agreements made at the workshop (these will be documented)
Pre work
Teams to document procedures on "post-it stickers". One procedure per post-it. Each team should be a different colour post-it. See attached "post-it re-engineering instructions.
Suggested attendees
All those involved in month-end including accounts payable, accounts receivable, financial and management accountants, representatives from teams who interface with month-end routines, e.g. payroll, IT etc
Requirements
Event secretary to record agreements (can be a nominated attendee), two laptops, data show, and two white boards.
Schedule
|
9:00 am |
Welcome by Chief Financial Officer |
|
9:10 |
Setting the scene: a review of better practices among accounting teams, that are delivering swift reporting, topics covered include:
Senior management and a selection of budget holders (who are locally based) will be invited to attend this session. |
|
9:50 |
Agreement on the current key bottlenecks of month-end reporting presented by Financial Controller
|
|
10:05 |
Workshop 1: on when activities should start and finish. Separate teams will 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 tea |
|
10:45 |
Workshop 1 continues |
|
11:00 |
Feedback from work groups and action plan agreed (date and responsibility) |
|
11:20 |
Workshop 2: to analyse the month-end procedures using post-its (yellow -accounts payable, red - G/L issues, blue - revenue, purple - forecasting, yellow - preparing the monthly accounts , CAPEX - pink etc) |
|
12:30pm |
Lunch |
|
1:15pm |
Workshop 2: continues |
|
2:00pm |
Feedback and pulling it together, participants will document agreed changes and individuals will be encouraged to take responsibility for implementing the steps |
|
2:30 pm |
Afternoon tea |
|
2:45pm |
Implementing a quick month end - the implementation plan, the issues to look at presented by David Parmenter |
|
3:00 pm |
Workshop 3: to set 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 |
Each team presents reports 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 |
Post-it Re-engineering
Teams are to document procedures on "post-it notes". Each team should have a different colour post-it.
Rules
- Each Team is assigned a unique colour.
- One procedure per post-it
- State when it is done - time scale is -2,-1(last working day),+1(first working day),+2
- Write in big letters (must be seen from 15 feet)
Example:
|
Team |
Color |
|
A/R |
yellow |
|
A/P |
green |
|
Payroll |
red |
|
Fin Acctg team |
blue |
|
MA Team |
etc |
|
IS |
|
|
+2
Close-off |