Financial Reporting and Performance Analysis

Are you wondering if you are getting enough insight into your financial reporting and performance to run your business effectively? The chances are that as a small or medium-sized business, finding the time to complete financial statements and company performance analysis is proving a challenge. If this sounds familiar, partnering with Your Business Finance Manager could be the solution you are looking for.

We facilitate reporting and insights for better decision making by producing reliable and relevant types of financial reports. Our budget and forecast preparation focuses on key issues and opportunities for your business. We help you stay on top of your game, enabling you to make informed decisions.

Contact us today to find out how we can assist you with financial reporting and business analyst performance metrics.

Understanding Financial Statements and Company Performance Analysis Reports

To be able to run a successful business, every owner and manager needs to have timely and relevant information so they can stay on top of how their business is performing and react and plan accordingly.

Large businesses have teams dedicated to analysing sales and profitability and providing regular and dashboard reports to management on their financial position, performance and key indicators. We believe that every business should have these insights at its fingertips.

However, while producing these reports is important, you also need to be able to understand what they are telling you and how to act on it. 

Financial Reporting Definition

At Your Business Finance Manager, we deliver this vital reporting function to your business without the cost or time involved in employing a finance team or internal accountant to do this.

As your virtual chief finance officer (CFO), our key financial reporting and analysis functions can include:

  • Producing monthly (or otherwise as required) financial statements (profit & loss and balance sheet reports) including an analysis of trends and any risks to be aware of.
  • Managing account ledgers and bookkeeping.
  • Regular sales and margin dashboard reporting.
  • Reporting on other key performance indicators in the business such as inventory, debtors & creditors, employment costs and more.
  • Working with your external accountants to produce your end of year Accounts and Tax Returns.
  • A live cash flow model, allowing you to monitor your cash position and stay on top of your ongoing obligations.
  • Product, service and ad-hoc project costing and pricing.

The above examples answer the question, what is financial reporting? — but at YBFM, we don’t leave it there. We take the time to explain these to you, so YOU know what a financial report is and how to act on the information it’s giving you.

Call YBFM and discuss the objectives of your financial reporting.

Why Do You Need Financial Reporting?

Australia requires all businesses to have a financial reporting system that produces clear and consistent financial reports to meet legislation. Although most of these are required annually, it makes absolute sense to keep on top of accounting and financial statements so you are prepared and always across your financial position.

Effectively managing accounting software, upgrades and implementations by automating or simplifying existing processes and systems is something YBFM excels at. We also work with your accountants and government agencies to streamline your end of financial year business financial statements and ATO compliance.

At Your Business Finance Manager, we are experts in preparing financial statements on a monthly, quarterly, or ad-hoc basis. We will take the time to walk you through these reports so you know how to analyse financial statements and understand them. You can then use them to enhance your business and make key decisions.

You can learn to effectively control the costs of your business by reading financial statements. Understanding the importance of financial management can help your SME thrive and grow.

Find out the types of financial reporting we can help with by giving us a call.

Business Performance Analysis, Goals and Objectives

Is your business under-performing, but you can’t put your finger on what’s wrong? Your Business Finance Manager can help you see the whole picture — identifying areas where you can improve efficiency, reduce costs, meet deadlines, and produce accurate reports to help you to monitor this ongoing.

You wouldn’t leave it to guesswork if you were buying a house, you would know exactly what you were spending — and what your ongoing expenses would be. The same should apply to your business — which is the main purpose and benefit of having accurate and up-to-date financial statements and forecasts that you can understand.

By building a strong financial foundation, you can avoid pitfalls and ensure your business is prepared for future growth.

Find out how financial reporting and performance analysis can work for you.