Ma. Jemina Sarah P.

Tarasona

BSA 4 - PROF ELEC 4

Management reporting is a source of business intelligence

that helps business leaders in making more accurate, data-driven
decisions.

Management reporting or reports are analytical tools used by

managers to inform the performance of the business in several
areas and departments. Senior executives and leadership use them
to drive their strategic decisions and monitor business growth
with real-time indicators.

They basically show the worth of your business over a

specific time period by disclosing financial and operational
information. Reporting for management provides insights on how
the organization is doing, empowering decision-makers to find the
right path to increase operating efficiency and make pertinent
decisions to remain competitive.

For any function and in any industry, reports are more than
useful, they are crucial to the well-functioning of the company.

Reporting is all the more important in management as it has

higher stakes and holds bigger, cross-disciplinary decisions. In
general, reports are important to management for various reasons:
they measure strategic metrics to assess and monitor the
performance, they set benchmarks about said performance, enable
the business to learn from its activity by leaving a track record
and finally enhance communication.

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 TYPES OF MANAGEMENT REPORTS
Data/Information:

A. Operating Reports
Managers use these reports to determine the gaps between the
current and budgeted targets. It includes reports for both short
and long-term to maintain the operating efficiency. It is further
divided into:

1. Control Reports: It is presented monthly, quarterly and yearly

to control deviations. In addition, it helps in finding
bottlenecks and taking corrective measures wherever necessary.

Managers prepare control reports periodically. And, it can be

further classified into:

 Current Control Report

 Summary Control Report

2. Information Reports: It covers a broader area than control

reports. This is because, it needs detailed information,
examination, and analysis. Management uses information reports
for planning and policy formulation.

B. Financial Reports

Financial reports contain information about the financial

position of the business. It shows the movement of financial
resources over a specified period. It is of the following two
types:

1. Static Financial Reports: This report shows the position of

assets, liabilities and debts at a point in time. For Example,
Balance Sheet.

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2. Dynamic Financial Reports: We use these reports to summarize
the change in the financial position.

Technique:

C. Trend Reports
Managers use these reports to make comparisons over a period
of time. It shows a certain type of movement or trend through
graphics.

D. Analytical Reports
This type of reporting involves thorough data analysis and
comparisons with the predetermined objectives. It is prepared
horizontally, between one or more firms or departments.

Functional Area:

E. Individual Report
It includes reporting for a particular activity by the
responsible personnel. For example, a production report presented
by the manager of the production department.

F. Joint Report
A joint report is a report prepared by the managers of all
the departments jointly. For example, firms prepare the profit &
loss statement based on the production reports.

User:
G. Internal Reports
Managers prepare these reports for internal management. It
is useful for communicating information to employees and all
levels of management. It may include:

1. Routine Reports
2. Special Reports
3. Reports at various levels of management

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H. External Reports
It is prepared to provide essential information to the
parties outside the business. External parties use these reports
to ascertain the firm’s financial position and decision-making
for different purposes.

External reports can be used by:

1. Shareholders
2. Government Authorities
3. Stock Exchange
4. Credit Institutions

I. Progress or status reports

A management report that tracks the progress of a project or
a goal in detail. By using this type of management report, you
can track all activities related to the completion of the
project, see how far you are from the final goal, and if tasks
are running at the expected schedule.

J. Business reports
Each Time Log business report is based on one specific
issue. For example, the internal/external analysis report
provides management with relevant data in the form of each
employee’s time consumption for internal and external projects.

K. Status reports
Status reports offer production insight by showing on which
projects or customers your company has worked in a given period.
These reports provide a status based on the dimensions supported
by the system, e.g., current employee cost rates as well as
potential and realized work values.

L. Process reports
Process reports focus on work processes, e.g., approving

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weekly timesheets, outlays, travel expenses, etc. These reports
contain information on a given employee’s status in relation to a
specific work process.

M. Project portfolio reports

For management, Time Log provides a range of reports to
retrieve data from multiple projects, enabling managers to view
several project statuses in one report. One example is the
project portfolio report, which collects the entire company’s
project activities in a single screen.

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