Companies need to keep track of their financial activities to ensure that the flow of money is going to the right places. This is where a company and financial report comes in, and this is where users can learn how to create one for the next company meeting.
A Company and Financial Report is a type of report that details a company’s investing, operating, and financing activities. It not only gives the financial status of a company but also gives specific details like ratio analysis of cash flow, monthly financial performance, and project finance.
Creating a Company and Financial Report can sound complicated, but just focus on detailing the financial aspect of the company you are making it for and you will be able to make your content easily. Take a look at the steps below as well for more tips.
To make your financial report coherent, start by detailing the type of operations your company is involved in. Whether they are selling church reading material or doing interior design projects, add those details to your financial report so that readers can be able to understand the following financial activities done by the company.
Another way to make your financial report effective is by setting a period of time when presenting the company’s operations. That way, readers can easily follow the timeline of financial activities that occurred within the company. If there are any inconsistencies, they can be more easily detected. Set the timeframe within a month or quarterly to make it organized.
One of the main meat of the document. Creating a balance sheet to present all the numbers lets the company have a record of the funds that are obtained and spent. You can set the balance sheet in a table layout to make it a lot more organized and understandable even to those who aren’t an accountant.
When presenting various kinds of financial activities, be sure to label each section specifically in consideration to members of the company who will be looking through the report as well. If you are presenting a cost analysis or revenue, then label them accordingly on your company financial report.
It is the management of the company who is responsible for preparing the company financial report.
A company financial report aims to keep a record of a company’s financial activities, this is to make sure that the flow of money has gone to the right places and no fraudulent activities like embezzlement have taken place.
Company financial reports are not public information, they are supposed to be kept private and only accessible to those in the financial department and the higher-ups of the company.
Whatever company it is be it a hotel, restaurant chain, or construction company, it is important to keep a financial report so that the company’s finances are properly tracked and recorded. For more reference, check out our other financial and statement templates.