Reporting and Operations
Financial Reporting
Originally Posted: April 30, 2023
Topics:
Size of Organization:
Medium
- All financial reports are based on the general ledger. Adjustments and estimates modifying the information from the general ledger will be documented.
- Review interim reports against budgeted or anticipated results. This review will highlight items that need examination before the interim reports are released.
- Establish a monthly closing schedule for reports and follow this schedule.
- Provide monthly financial reports for all divisions, business units, departments, and projects.
- Encourage employees responsible for divisions, business units, departments, and projects to review their financial reports and question items which differ from their expectations.
- Provide online, real-time access to financial information to those responsible for divisions, business units, departments, and projects. Many financial systems allow this through the reports module.