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Reporting To MGT
Reporting To MGT
Chamundeshwari
Introduction: It is part of an overall management information and control system. It is a formal system whereby relevant information is continuously provided to the management through reports. Purpose : To provide necessary information to managers at all levels. To evolve an efficient and suitable system of reporting. To provide financial information to the managers To review and adjust according to the changing reqirements.
Essentials of effective reporting or Principles of preparing Reports 1. Good Form and Content 2. Promptness. 3. Accuracy 4. Comparison 5. Simplicity 6. Needs of different levels of management 7. Use of visual aids 8. Controllability
Different levels of Management 1. Top Management Level: 2. Middle Management Level 3. Junior or Operating Management Level
Top Management Purpose : Report is concerned with the formulation of business policies and evolving plans for day to day. Comprises of : BOD, MG, AGM, CE content of Report for top management 1. Periodical P&L and B/S 2. Master Budget 3. Capital Budget 4. Reports on research and Develop ment activities 5. Management ratios showing overall financial positions 6. Summaries of COP in various departments 7. Plant utilization reports
Junior or Operating Management Level Purpose: Concerned with day to day operations of various section of business. Reporting to operating management is detailed and specific. Comprises: Supervisor, foremen, section chief etc. Content : 1. Material usage variance report 2. Labour efficiency variance report 3. Report on overtime work 4. Labour productivity Report 5. Material spoilage report 6. Idle time report
1. Verbal or Oral (eg. Group meeting, Conferences, seminars) 2. Written Classification of Reports According to form, content frequency I - Form a. Descriptive b. Tabulation C. Graphical Types of graphical forms 1. Bar Chart 2. Simple bar chart 3. Multiple bar chart, 4. Subdivided bar chart 5. Percentage bar chart, 6. Pie or circular chart. 7. Gnatt chart ( bars are drawn horizontally) 8. Z Chart 3 curves on single graph
II - Frequency 1. Routine Report : ex. Inventory position report, Overtime Report 2. Special Report 1. Capacity utilization and effect of idle capacity on cost. 2. Make or buy decision 3. Price fixation problem 4. Position of working capital 5. Diversification of product lines 6. Cost reduction scheme 7. Capital expenditure problems