Workflow Templates: Management Reports Checklist

Review the income statement for accuracy and completeness

Analyze revenue streams to assess their performance against forecasts

Compare current period expenses with the budget and previous periods

Confirm that all assets and liabilities are correctly listed and valued

Examine changes in the equity section and investigate any discrepancies

Ensure all reconciliations for bank accounts and other key accounts are complete and reviewed

Verify the accuracy of the beginning and ending cash balances

Analyze cash flows from operating, investing, and financing activities

Assess the adequacy of cash reserves for future needs and obligations

Compare actual results with budgeted figures and explain variances

Adjust forecasts based on actual performance trends

Identify any potential financial risks or opportunities based on the variances

Review and update the KPIs to ensure they align with the current business objectives

Analyze KPI trends and highlight any areas of concern

Benchmark KPIs against industry standards or historical performance

Check adherence to accounting policies and procedures

Review the effectiveness of internal controls over financial reporting

Ensure compliance with relevant laws, regulations, and standards

Management Reports Checklist