How can CFOs improve board reports?
One of the most important roles for chief finance officers (CFOs) is reporting back to the board, acting as the bridge between the financial department and the rest of a business to allow leading executives to make decisions on how to progress.
This is often done through the medium of a board report, but the ongoing debate over the best form for these offerings to take means it is difficult to say what the best approach is for CFOs keen to carry out this process as effectively as possible.
Writing in CFO World, Andrew Mosely, consulting director at business intelligence consultancy Metapraxis, said a wide variety of formats exist because "few conventions have been established" around the form.
"Ultimately, board reports need to contain highly relevant and insightful information and clearly analyse the issues to stimulate constructive dialogue amongst board members and stakeholders," he explained.
However, this could be easier said than done, particularly given that each industry will involve different data and require its own metrics to make sense of these figures.
According to Mr Mosely, there are certain commonalities CFOs should bear in mind when producing reports of this kind.
For instance, a logical structure will always help board members understand the information contained in a report, however complex or simple the actual data itself is.
"The choice of whether to portray information in the form of tables, charts or text should not be arbitrary, as different types of information are clearer and easier to understand when presented in certain formats," added Mr Mosely.
CFOs should attempt to gain an understanding of trends and turning points if they are to analyse the performance of their organisation in a forward-looking, positive way, he suggested.
Finally, he called on finance officers to introduce a "topic of the month", enabling coverage of a broad range of issues throughout the year without becoming bogged down in detail every time a report is presented.
Signup to receive the latest discipline specific articles
Related articles
Teaser
GovernanceContent Type
Fintech
18/04/24
Summary
The role of risk and compliance in financial services As a sizeable, growing portion of the financial services sector, risk and compliance play a vital role in ensuring that firms conduct busine
by
David Clamp
Teaser
Executive SearchContent Type
General
18/04/24
Summary
Private equity (PE) is a growing industry that has always attracted ambitious top talent due to its high risk/high gain capital investment. Pre-covid, we saw the global private equity industry b
by
Tracey Alper
Teaser
Commerce & IndustryContent Type
General
18/04/24
Summary
What is financial contracting? Financial contracting refers to the practice of hiring finance professionals on a contractual basis to fulfil specific roles or projects within an orga
by
Kelvin Murphy
Related jobs
Salary:
£60,000 - £70,000 per annum
Location:
North West England
Industry
Insurance
Qualification
Fully qualified
Market
Financial Services
Salary
£70,000 - £80,000
Job Discipline
Internal Audit
Contract Type:
Permanent
Description
Internal Audit Manager - ESG & Operational, you'll contribute to external requirements & stakeholder expectations around ESG performance and reporting
Reference
BBBH180036
Expiry Date
01/01/01
Author
David ClampAuthor
David ClampSalary:
£150,000 - £170,000 per annum + Equity, Bonus and Benefits
Location:
City of London, London
Industry
Business Services
Qualification
Fully qualified
Market
Executive Search
Salary
£125,000 - £175,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is working with a Well-Established Listed B2B Infrastructure Consultancy Business
Reference
TA3249
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£180,000 - £200,000 per annum + exit bonus, benefits
Location:
London
Industry
Technology
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search has an opportunity for a Chief Financial Officer to join a high growth PE-Backed Tech-enabled business.
Reference
TA 3247
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£150,000 - £175,000 per annum + Equity, Bonus and Benefits
Location:
Yorkshire and the Humber
Industry
Business Services
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search has an exciting opportunity for a CFO to join a PE Backed infrastructure business
Reference
TA 3246
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£100,000 - £130,000 per annum + equity, bonus and benefits
Location:
Derbyshire
Industry
Transport & Logistics
Qualification
Fully qualified
Market
Executive Search
Salary
£125,000 - £175,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is working with a Multisite Distribution business in their search of an accomplished CFO
Reference
TA 3243
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£180,000 - £200,000 per annum + Equity, Bonus and Benefits
Location:
England
Industry
Professional Services
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin executive Search is working with an international PE-Backed Buy and Build Corporate Services Business.
Reference
TA 3244
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£150,000 - £175,000 per annum + equity, bonus and benefits
Location:
London
Industry
Technology
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin executive is working with a PE Backed, International Software business, going through a period of rapid organic growth
Reference
TA 3242
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£25,000 - £28,000 per annum
Location:
Birmingham, West Midlands
Industry
Property and Infrastructure
Qualification
None specified
Market
Commerce & Industry
Salary
£25,000 - £30,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
After securing a new contract a housing association is looking for a new Accounts Receivable Clerk to join their Finance department. Needing someone experienced within Accounts Receivable clerk
Reference
BBBH180049
Expiry Date
01/01/01
Author
Olivia BalnaveAuthor
Olivia BalnaveSalary:
£24,000 - £27,000 per annum
Location:
Birmingham, West Midlands
Industry
Property and Infrastructure
Qualification
None specified
Market
Commerce & Industry
Salary
£25,000 - £30,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Are you in the market for a new role? Are you experienced within Accounts Payable? Specifically, within the housing sector?
Reference
BBBH180048
Expiry Date
01/01/01
Author
Olivia BalnaveAuthor
Olivia BalnaveSalary:
£35,000 - £42,000 per annum
Location:
Sheffield, South Yorkshire
Industry
Business Services
Qualification
Finalist / Newly qualified
Market
Financial Services
Salary
£40,000 - £50,000
Job Discipline
Newly Qualified Finance
Contract Type:
Permanent
Description
Are you passionate about making a difference in the lives of others? I'm working with a charity who are looking for a part-time Finance Manager.
Reference
BBBH180040
Expiry Date
01/01/01
Author
Dean FollandAuthor
Dean Folland