Impact Financial Reporting
Financial Reporting and CFO Outsourcing Solutions
Reports take many forms in order to best communicate information and knowledge to internal and external stakeholders. A high-level user may want a one page summary while the numbers person needs a summary with drill-down capability and the auditor wants to see the transaction level. File structure should provide a variety of report levels and allow for customization to accommodate further needs and requests.
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Reporting is the last phase of a financial reporting review process.
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Simple and consistent reporting goes a long way. For example, presenting information by month pulls the information together, highlights inconsistencies that need to be explained (or possibly corrected) and shows trends.
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SAMPLE REPORTS
Management reports
1 Monthly management report (detailed) - High level summary
2 Monthly management report (one page) - Performance indicators and trends
3 Financial statement - Summary followed by detailed notes
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Investment presentations
4 Investment flyer - One-page summary
5 Investment memo - Present plans and numbers
Procedures and culture
6 Procedures manual - Present vision, inspiration and common goals across the company
SAMPLE FORMATS
High level monthly management report - dashboard
Monthly management report by expense type
Projections - Sales and profits summary
Projections memo describing highlights and strategy
Expense report detailing expense type and vendor by month