Financial reporting should be an easy to understand and structured way of displaying your results. This can be for example your P&L, Balance sheet, Working Capital, Cash Flow, Capital Investments or VAT & Intrastats. It provides information on current position, performance and changes. OnCompass can support your financial reporting ensuring understandable, relevant, reliable and comparable information.
There are many ways of business reporting. For example by customer, product, segment or profitcenter. There is always a gap between financial and management reporting of unallocated items. For example, scrapping or writing off products or FX impacts. These are items that are not managed from sales. OnCompass can support you in setting up your management reporting as well as finding the right allocation keys for the unallocated areas from financial reporting. This will ensure you have no gap between financial and management reporting and reliable detailed management information available for business decisions.
OnCompass can support you with your local statutory reporting. We have experience in UK GAAP, Dutch GAAP and German GAAP (HGB & BilMoG) as well as IFRS and USGAAP. In most cases companies run multiple ledgers in there accounting systems but there is also the possibility to do this outside the system.
Project reporting is done before, during and after the project to monitor and evaluate the project. Learning’s should be taken to future projects. Agree upfront with the project team and stakeholders the definitions to report against. OnCompass can help you setting this up and running it.
Reporting of restructuring projects are usually complex. This is because of disagreement of definition in what is included and what is excluded. Also lack of version control and review at fixed time points is often missing. OnCompass can help you setting this up and running it.