Management Reports

Financial Reporting

Prepare a standard monthly suite of management papers for review by senior management

This procedure details the minimum reports that should be prepared monthly for management review.

Management and Accounting Staff

Prepare the following reports for use by management in monthly management meetings (where appropriate prepare both monthly and year to date reports):

Profit and Loss: refer separate procedure
Budget variance report: (sometimes called performance to budget) This report identifies the percentage variance on individual accounts to budget. for example, advertising might have been budgeted at $2,000 for the month but due to a special promotion authorised by management, actual expenditure was $3,500. The variance of $1,500 must be reported together with a brief explanation of the variance.
CAPEX Report: where capital expenditure has occurred, a detailed list of all items purchased together with amounts expended should be prepared. Any projected major Capital Expenditure for the next 3 months should be forecast.
12 month Rolling Projection: Based on existing budgets, each month, a projection of future income and expenditure should be prepared.
Payroll and Staff Reports: Report identifies staff levels and wages for the month and projections for next month.

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Need	Notes
Time	e.g. enter your own information here
Tools and Equipment	e.g. enter your own information here ..other
Parts	e.g. enter your own information here ..other
Support people	e.g. enter your own information here
Paperwork and authority	e.g. enter your own information here ..other
Other	e.g. enter your own information here

Any safety hazards to be aware of – delete this section if not needed

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Any tips learnt from previous experiences that should be passed on – delete this section if not needed

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