Management Reporting

Frequently asked questions

• What are the types of management reporting?

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  There are many types of management reporting, including financial performance reports, KPI overviews, operational reports, Budget-to-actual reports, forecasting and planning reports, and ad-hoc reports.

• What is the basis of management reporting?

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  Providing management with the accurate, timely, and relevant information they need to make decisions for the business. Usually, management reporting is driven by creating objectives, setting up KPIs to shoot for those objectives, and monitoring progress against targets.

• What is the difference between financial reporting and management reporting?

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  Typically, financial reporting is created for an external audience, while management reporting is internal. Financial reporting aims to communicate the company's progress to external stakeholders, shareholders, and compliance organizations, while management reporting empowers internal stakeholders to make business-changing decisions. Financial reporting is completed regularly, while management reporting can be done on a rolling or ad-hoc basis, depending on what executives need to drive business success.

• What do management reports include?

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  Management reports typically include various reports and analyses with accompanying dashboards and visuals to aid decision-making for leadership. Management reporting should be digestible for finance and non-finance leadership alike.