What is internal reporting?

Internal reporting refers to the process of sharing financial and operational information within an organization for managerial decision-making purposes. It involves the regular communication of data, performance metrics, and analysis to key stakeholders, such as managers and executives. Internal reports typically focus on the organization's key performance indicators, financial statements, budget variances, sales figures, and other relevant data. This reporting helps managers assess the overall health of the organization, identify trends, make informed decisions, and take necessary corrective actions as needed. Internal reporting provides valuable insights into various aspects of an organization's operations, enabling effective planning and resource allocation for improved performance and growth.

This mind map was published on 29 September 2023 and has been viewed 66 times.