安永-财务管理最佳实践-财务报告(英文)

Recordtoreport:LeadingpracticeprocessesandchecklistRevised13/06/201RecordtoReportTheExecutiveBoardisresponsiblefortheconduct,operationalandfinancialperformanceofanorganisation.Theseresponsibilitiesaredischargedby:clearlystatingtheshortandlongtermobjectivesoftheorganisation;clearlystatingthepolicyguidelineswithinwhichtheyexpectmanagementtooperate;definingthesystemforensuringthatmanagementactsinaccordancewiththeBoardsdirection;anddefiningproceduresformeasuringtheextenttowhichprogresstowardscorporateobjectivesisbeingachieved.1.1ThevalueofinformationInorderfortheBoardtobeabletofunctioneffectively,informationiskey.ABoardwhichoperateswithinsufficientorinaccurateinformationwillbeunabletomonitortheorganisationeffectivelywithdecisionmakingbeingbasedonflaweddata.Underthisscenario,thereisasignificantriskthattheorganisationwillfailtomeetitslongtermobjectives.PostEnron,Qwest,WorldCometcExecutiveBoardscannotfailtoappreciatethattheirreportingimpactsnotonlyontheperformanceandfutureoftheirownorganisation,butcapitalmarketsasawhole.Highquality,transparentreportingwhichisbasedonrelevantfinancialandnon-financialvaluedriversiscriticalfordrivingcorporateperformanceaswellrestoringconfidenceinthemarkets.Thefirststeptowardsachievingthisistoimplementaframeworkofmanagementreportingwhichisbasedontimely,relevantandaccurateinformation.Thiswillenableeffectivedecisionmakingaswellasmeetingtheneedsofexternalstakeholders.1.2ScopeofRecordtoReportThescopeofthispaperisthefinancialandnon-financialreportingresponsibilitiesoftheCFO/FD.Assuchitcovers:Section2:Board/Divisional/costcentrereporting(alongwithapplicationofBusinessIntelligencetechniques)Section3:GeneralledgerandthechartofaccountsstructureSection4:MonthendcloseandconsolidationprocessesSection5:StatutoryreportingRecordtoreport:LeadingpracticeprocessesandchecklistRevised13/06/20ThepaperdoesnotcoverthereportingresponsibilitiesofotherOperationalExecutives(eg.Sales,Logistics,CRM,Marketing,HRetc).Recordtoreport:LeadingpracticeprocessesandchecklistRevised13/06/202Managementreporting2.1ThepurposeofmanagementinformationThepurposeofmanagementinformationisto:monitorprogressagainstcorporateobjectivesandplansidentifyactionsrequiredwhereactualperformanceisatvariancewithexpectationTheBoardReportisakeycomponentinthemanagementreportinghierarchy,collatinginformationacrossanorganisation.TheBoardReportcombinesthevariousoperationalactivitiesthroughthecommonandobjectivemediumoffinance(beitsterling,dollarsetc).AgoodBoardReportwillultimatelydrivedecisionmakingandactions,assistingtheorganisationtoachieveitsshort-termandlongtermobjectives.AssuchtheBoardReportshouldprovideallthenecessaryinformationtosupporttheBoardinfulfillingitsresponsibilities.Indoingsoitshouldbe:ExternallyfocusedMarketopportunitiesThreatsCompetitionForwardlookingDrivingvisionAligningoperationstostrategyRefiningstrategyasrequiredChallengingtothemanagementteamDrivingperformanceQuestioningthestatusquoUnderstandingandmanagingrisksRecordtoreport:LeadingpracticeprocessesandchecklistRevised13/06/202.2Managementreporting&operationalreportingManagementreportingisabroadtermwhichmaymeandifferentthingstodifferentpeople.Itis,therefore,necessarytounderstandthedistinctionbetween:managementreportingasusedbykeyExecutivesandseniormanagement.Thesereportsareusedtodrivedecisionmakingandmeasurewhetherornotcorporateobjectivesarebeingmet.Thistypeofreportingneedstobesalient,relevant,coveringbothfinancialandnonfinancialcriteriamanagementreportingasusedfordaytodayoperationalpurposes.Examplesincludecostcentrereports,headcountanalysis,callcentreperformanceetc.Thesereportsaredatadrivenandenablemanagerstoreviewdeliveryoftheircurrentresponsibilities.Thesereportsshouldbestandardintheirpresentationanddeliveredwithinminimalinterventionoroverhead.Thistypeofreportingisdescribedas“operationalreporting”ThefocusofthispaperistheExecutivestylemanagementreporting2.3DesignprinciplesinManagementReportingItisrecognisedthateverycompanywillhavedifferinginformationneedsforrunningthatcorporation.Assucheverycompanywillhavedifferentmanagementreportingneeds.Itis,however,necessarywhenreviewingordevelopingreportcontenttohaveinplacecoredesignprinciples.Theseshouldinclude:deliveryofinformationwhichmeetstheneedsofkeydecisionmakerswithintheorganisationdeliveryoftimely,relevantandaccurateinformationwhichmeetstheneedsoftheBusinessaswellasFinancedeliveryofinformationnotdata,basedonthephilosophyof“lessismore”(salient,concisereportingofinformationvsdeliveryofsignificantvolumesofnumericandotherdata)“oneversionofthetruth”whichdeliversconsistencyofinformationacrossthewholeorganisation(seeSection2.4below)useofleadaswellaslagindicators(eg.forcustomersatisfaction,servicedowntimemaybealeadindicator,customerchurnalagindicator)incorporationofoperationalKPIsaswellascorefinancialmeasuresapplicationofabalancescorecardapproach,ensuringconsiderationisgiventofinancial,operational,people/staffandcustomerperspectives.applicationofexceptionreportingtechniques,withsignificantvariancesbeinghighlig