No Surprise Financials
The Grawe Gazette – Executive Leadership
No Surprise Financials
The Grawe Group, LLC, April 2021
Do you love surprises?
When it comes to your business financial results, we suspect not. The combination of your daily, weekly, and monthly metrics, along with a proper financial reporting system, should eliminate most of the element of surprise when the financial results are published.
Last week we discussed the characteristics of good reporting habits when it comes to business management reports, key performance indicators and so on. Even more important is the virtue of excellent financial reporting so you and your management team can drive strong results.
A well-prepared packet of financial material will:
- Be timely, available shortly after the end of the month
- Highlight trends in the business
- Reflect revenues and costs without accounting related variability
- Be presented in categories for each area of responsibility of the leadership team
- Enhance understanding of the relationship between key activities and financial results
- Provide early insight into cash expectations and financing needs
- Highlight the leverage points of the business
- Form the foundation of performance expectations
- Support planning and forecasting activities
- Position the company to deal with its financial partners with better outcomes
Speak the language of the business
Accounting is the language of business, and a financial reporting package tells the story. You must trust the story and understand the story to be able to improve the story. Successful businesses, and those wishing to become more successful, have strong accounting and financial reporting habits like those above. Those strong habits help business leaders understand and improve the business.
If you need help improving your business, call us. Whether financial, operational, or risk-related, we have the experience and expertise to help you achieve better business results and tell a better business story.
The Grawe Group, LLC is a professional services firm focused on the transportation and logistics industry. With a team of experienced executives, we provide general counsel services, business consulting, and managed professional services specific for the industry. From legal and risk management matters, to operational, financial, and executive challenges, the Grawe Group has the consulting, management, and legal expertise in trucking and logistics to help you build sustainable success. www.thegrawegroup.com