5 Questions
What should be included in reporting to promote greater accountability across management levels?
Explanations and action plans for outlier variances
What should be provided by dashboards and reports to indicate performance?
High-level indicators of performance
What should be included in reports for managers?
Detailed information on performance indicators
What should managers understand and offer commentary on in reporting?
Explanations and action plans for outlier variances
What should be promoted with management and executives in reporting?
Feedback loops
Study Notes
- Reporting should include explanations or action plans for outlier variances.
- This promotes greater accountability across management levels.
- Reports should be tailored to each level of the organization.
- Dashboards and reports should provide high-level indicators of performance.
- Reports for managers should include more detailed information.
- Notifications should be incorporated to proactively notify users.
- Explanations and commentary should be part of the reporting process.
- Managers must understand and offer commentary on outliers.
- Feedback loops should be promoted with management and executives.
- Effective financial performance reporting should be role-based.
Test your knowledge on effective financial performance reporting, including the importance of explanations for outlier variances and tailoring reports to different management levels. Learn about incorporating notifications, feedback loops, and role-based reporting for enhanced accountability.
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