Improve your Financial Reporting to the Board - ebook
One of the biggest problems facing organisations is the standard of financial literacy on boards and in management teams.
A lack of financial literacy is a barrier to business improvement. I’m referring to understanding what business levers we need to pull achieve our financial goal. Not accounting knowledge or book-keeping skills.
What can we do to improve our board and management team’s financial literacy and achieve our financial goals? We improve the way we report our financial performance every month.
Improvement starts with the way we design our strategy, and that’s what we consider in the first part of this book. We will connect the strategic plan to the structure of the financial cash flow statement. Part 2 is exploring the questions that the board should want to know, and where to find that information in your financial statements. Part 3 is a suggested template to capture the financial and strategic narrative.
There are some terrific CEO reports out there, and this book isn’t about totally changing what you may be doing today.
We’re looking at ways that you can adapt what you’re doing now. We’re looking at a way to achieve more control over what you’re prioritising today, and the financial impact of your actions in the future.
It takes practice and effort to achieve mastery.
Link strategic and financial results, answer the questions directors really want to know, and turn your reports into powerful decision-making and performance management tools.