If your organisation has a requirement for regular reporting, the expert team at CBKBS Business Solutions can help ensure that you have effective and comprehensive reports that fulfil the needs of your business.
Your Board requires regular reports for a number of reasons. The key reasons are so that they understand a business’ exposure to risk – what risks are there for a business at the moment, what is the business doing to mitigate these risks and can they impact a company’s financial performance.
We work with a number of clients on Board Reporting. They all have their own needs and depth of reporting required, as they all are of different sizes and have different areas of focus.
Whether it’s monthly or quarterly reports to the Board or the preparation of a full set of Quarterly Financial Statements, we can help.
When preparing reports for a client, we ensure that they are up to date. We ensure that they are comprehensive and include all the information that a client may need. We strive to make them easy to understand and ensure that they compare the current state of your finances with what you budgeted at the start of the current period.
When preparing reports to present to your Board we also make sure that your Board is aware of the following information
- We make sure they are aware of all revenue and expenses, including those that may have been unbudgeted or unexpected
- We let them know your cash balance and forecast if there may be issues with cash flow. This gives the Board confidence that your company can meet all of its obligations.
When preparing Board Reports we generally include a summary of the overall position and accounts – giving Board members a brief overview. We prepare a statement of budget differences and a Cash report. If there has been any capital expenditure we usually identify this too.
We can also help businesses with the preparation of quarterly financial reports. THis includes a collection of statements including a profit and loss statement, balance sheet, income and cash flow statements amongst others. These can be tailored for your business. Quarterly Financial Reports give you an accurate idea of how your business is performing when compared with the same period in a previous year or the previous quarter. It can also help you analyse how you are tracking against your budgets and plans.
At CBKBS Business Solutions we know how time consuming it can be for your business to prepare the relevant monthly and quarterly reports as required. It’s not your area of expertise. If you’d like help with the preparation of these reports, to give your Board some certainty with planning, please get in touch today for a no obligation quote.
Contact us today to learn more about our Board Reporting Services.