A financial report is a document that showcases all of your business’s relevant financial activities and performances during a certain period. It’s a mandatory legal obligation and is often scrutinized by potential investors, banks and creditors who might consider working with your business or investing in it.
A well-written and structured financial report can be a valuable tool in enhancing transparency, encouraging decision-making and enabling growth. It can help identify problems or areas of concern and guide investment, financing and operations. In order to ensure that the information you include in your report is accurate, cross-check data from multiple sources and make sure that all of the statements you create adhere to a set of accounting standards.
When it comes to writing a financial report, it’s important to take into account who your audience is and their level of understanding. This will help you decide the best way to format your information, including the use of visual aids. It’s also a good idea to incorporate a narrative flow into your report, as this can help readers understand the underlying story behind the numbers and how they might relate to each other.
Finally, it’s worth noting that if you have a lot of metrics that you need to incorporate in your report, try to use a tool that allows you to save different templates so that you don’t have to manually select and insert indicators every time. FineReport, for example, is a great solution as it makes it easy to customize and save different types of templates, streamlining the reporting process.