Question

What is meant by reporting to management ? What are the objectives of reporting ? Discuss various types of reports.

Answer 1

The reporting to management is a process of providing information to various levels of management so as to enable in judging the effectiveness of their responsibility centres and become a base for taking corrective measures, if necessary.


The objective of financial reporting is to:

track,analyze and report your business' income. The purpose of these reports is to examine resource usage, cash flow, business performance and the financial health of the business. This helps you and your investors make informed decisions about how to manage the business.