Financial reporting and Analytics provides an accurate and reliable financial information to both the internal and external stakeholders to help them make better decisions. As a part of good governance, the CFO of the company should fulfil the responsibility of maintaining sound and ethical financial management along with reporting, also striving for efficient and productive use of resources and also maintain necessary skills, qualities, and professional standards.
Thus financial analytics and reporting helps in undertaking the review plan of financials, detailed analytics and also preparation of financial reports. The performance is evaluated through industry trends, ratios, comparisons, scrutiny etc. The proposed financial analytics and reporting shall include unified processes which helps in understanding true value added insights, trends, opportunities etc.
Helps in developing transparency in the business performance of the company through its functions
Market trends: through analysis and reporting there comes a clear image of the market trends that are prevailing
Financial analytics and reporting helps in financial restructuring of the company.
It determines the forecast of future growth and prospects and also helps in the reducing the cost of products and services offered.
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