This is different from management reporting, which is financial information that is disclosed to those inside the company to be used to make decisions within the company. Financial reports are included in a public company's annual report.
It helps management to engage in effective decision-making concerning the company's objectives and overall strategies. The data disclosed in the reports can help management discern the strengths and weaknesses of the company, as well as its overall financial health. Secondly, financial reporting provides vital information about the financial health and activities of the company to its stakeholders including its shareholders, potential investors, consumers, and government regulators. It's a means of ensuring that the company is being run appropriately.
Roles & Responsibilities
- We generate information that is clearly presented, with additional information supplied in the supporting footnotes as needed to assist in clarification.
- Our information is relevant to the needs of the users, which is the case when the information influences the economic decisions of users.
- The information should be faithfully representing transactions and other events, reflect the underlying substance of events, and prudently represent estimates and uncertainties through proper disclosure.
- The information is comparable to the financial information presented for other accounting periods, so that users can identify trends in the performance and financial position of the reporting entity.
Salient Features of our Services
- Income Statement (Profit and Loss Statement)
- Income Statement by Month
- Balance Sheets
- Statement of cash flow
- Bank reconciliation report
- Accounts payable summary
- Accounts receivable summary
- Journal Entry and check register
- Payroll summary
- Payroll summary by department
- Payroll register
- Business analysis report
- Financial analysis report
- Fixed assets process reports
- Inventory valuation report
- Stock status report
- Inventory by location
