Knowing the financial status not only enables a business or an individual to plan for the future but also avoid going into bankruptcy by showing assets, liabilities and taxes due/payments. To any business or even an individual, a financial report template shows the financial status at any given time. This makes sure that an individual or a company is aware of what is owed to suppliers or funds provides and what others owes and hence balance the two to ensure it continues as a going concern.
Monthly Financial Report Template
It shows the monthly incomes, liabilities, revenues, and expenses during the year. Businesses and individuals use this document to monitor and plan for their financial position. This allows its users to easily budget for their needs from one month to another. It also enables management to know the performance of employees and other activities thus helping them detect areas that have a problem and those that need improvement or special attention.
This is a comprehensive and in-depth report about the performance of a business over a year. It provides valuable investment information to investors, shareholders, donors and other parties’ interest in a company.
Annual Financial Report Template
Project financial status report template shows the capital expenditure of a project, the activities and all costs associated with carrying out a project. This enables a business to prepare for future projects and improve the delivery of projects as they will have an idea of the approximate cost of the project and other areas that need improvements when doing future projects.
Project Financial Report Template
It enables event organizers to adequately plan for an event by showing the cost of each item and the expenses incurred or expected to be incurred. This enables a business to not only plan for an event but also plan for future similar events with certainty.
Event Financial Report Sample
What’s the main purpose of financial statements?
The main objective of any financial statement is to provide reliable, relevant, comparable and understandable financial information to shareholders, investors, suppliers, government and other interested parties. This information may be about a company financial position, changes in financial position or its performance.