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Report

Please forgiveness me for not connecting with you (all subscribers) due to mis-happening. Today, I am refresh and has started my professional work. Last time, I am discussing the MIS topics of Management Accounting. One of MIS's important topics  is Report. Today, we discuss about report in detail.

Q:- What is meant by a report?

Ans. In simple words, a report is that document which is used for communication of information. It includes investigated data.  In this report, we also include the tables which show the facts relating to any event, problem, progress of work, position of commercial business. In other words, a report is presentation of accounting facts which came from management accounting analysis. Report is important because it may be base of improvement in  actions.


Q:- What are the essentials of a good report?

Ans. Report is that vehicle which is used for communication the information to those people who are interested in that information. So, it is very necessary to make report in that way which fulfill the need of interested parties. Following are main essential elements of a good report

1. Simple

2. Good form

3. Purity of information

4. Comparative


Q:- What do you mean by enterprise reports?

Ans. This report is made for whole organisation. This report informs outsiders and communicates the progress of company. Income statement, balance sheet, income tax statement, employment report and report of chairperson are main examples of enterprise reports.

Q:- What are control reports?

Ans. Control reports show the variance of performance of responsibility centers and departmental managers. In these reports, we can see the actual and standard performance.  These reports must be sent at proper time, so that corrective measures can be taken by authorities.

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Accounting Education: Report
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Accounting Education
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