Monthly financials for the people running the business.
We prepare an agreed set of internal financial reports from the accounting records and the completed close work.
Agree what the package needs to explain
For many businesses, the core is an income statement and balance sheet with useful comparatives. The reporting package may also include departmental results, selected account schedules and commentary on material movements. We agree the reporting basis, period and account groupings before building the recurring pack.
Those choices need to remain stable enough for comparison. If an account moves between report headings, the prior comparison may need to move with it. The report should explain the reclassification so a presentation change is not mistaken for a change in the business.
Read the result with its balances
A change in the income statement may come from ordinary trading, an estimate updated at close or a correction to an earlier posting. We examine the underlying accounts and explain material movements in the report.
The balance sheet is part of that reading. A prepaid expense, an unpaid liability or an unreconciled bank item can explain why a figure needs attention before the report is issued. An unresolved item should retain its description and effect; it should not disappear inside a broad adjustment line.
What can be included
- An income statement with the agreed prior-period or budget comparisons.
- A balance sheet supported by the relevant account schedules.
- Short commentary on significant movements, estimates and outstanding items.
- A record of report groupings and recurring adjustments for the next close.
Use the same basis next month
We can maintain the recurring financial reporting package and update its schedules as the business changes. A new department, account or reporting requirement should be incorporated deliberately so the next comparison remains intelligible.
These are management reports for internal business use. Audit, review and other assurance engagements are outside this offer.