1、Record to report: Leading practice processes and checklistRevised TIME dd/MM/yy 08/08/22暗Record 挨to Repo柏rt斑 搬The Exe笆cutive 矮Board i叭s respo靶nsible 按for the拔 conduc唉t, oper版ational安 and fi俺nancial拔 perfor扮mance o罷f an or凹ganisat哎ion. Th八ese res頒ponsibi唉lities 皚are dis凹charged礙 by:哀clearly扒 statin爸g

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6、 crit辦ical fo擺r drivi啊ng corp罷orate p癌erforma艾nce as 哎well re芭storing傲 confid拜ence in扮 the ma按rkets. 昂The fir笆st step般 toward骯s achie擺ving th捌is is t拌o imple芭ment a 罷framewo版rk of m啊anageme俺nt repo百rting w版hich is藹 based 隘on time頒ly, rel扮evant a哎nd accu阿rate in罷formati瓣on. Th靶is will凹 enable藹 effect

7、挨ive dec背ision m耙aking a哎s well 案as meet絆ing the愛 needs 吧of exte挨rnal st伴akehold版ers. 吧Scope o班f Recor昂d to Re吧port 按The sco絆pe of t擺his pap霸er is t瓣he fina岸ncial a俺nd non-挨financi拜al repo絆rting r矮esponsi翱bilitie捌s of th案e CFO/ 藹FD. As傲 such i把t cover唉s:版Section安 2: Bo鞍ard/ Di凹visiona靶l(wèi)/ cost奧 centr

8、e澳 report般ing (al昂ong wit跋h appli把cation 伴of Busi胺ness In拜tellige澳nce tec版hniques白)岸Section斑 3: Ge岸neral l挨edger a巴nd the 瓣chart o搬f accou骯nts str襖ucture岸Section敗 4: Mo板nth end邦 close 礙and con拌solidat挨ion pro胺cesses昂Section骯 5: St哎atutory瓣 report壩ing邦The pap隘er does般 not co藹ver the骯 report礙ing res傲p

9、onsibi按lities 挨of othe挨r Opera挨tional 柏Executi愛ves (eg八. Sales爸, Logis疤tics, C礙RM, Mar柏keting,叭 HR etc叭). 拔Managem壩ent rep啊orting昂The pur爸pose of跋 manage頒ment in礙formati白o(hù)n 骯The pur搬pose of哀 manage拔ment in礙formati岸on is t百o:啊monitor跋 progre癌ss agai按nst cor跋porate 扒objecti傲ves and俺 plans板identif昂y ac

10、tio昂ns requ版ired wh哀ere act吧ual per絆formanc跋e is at芭 varian佰ce with藹 expect頒ation絆The Boa跋rd Repo辦rt is a愛 key co敖mponent搬 in the傲 manage跋ment re案porting擺 hierar斑chy, co扮llating佰 inform板ation a巴cross a霸n organ絆isation安. The 跋Board R暗eport c翱ombines叭 the va斑rious o傲peratio安nal act熬ivities辦 throug敗h t

11、he c暗ommon a胺nd obje隘ctive m氨edium o敖f finan哀ce (be 藹it ster藹ling, d挨ollars 般etc). A拔 good B哎oard Re拌port wi佰ll ulti跋mately 敖drive d百ecision哀 making頒 and ac跋tions, 愛assisti芭ng the 扮organis稗ation t背o achie般ve its 頒short-t皚erm and柏 long t背erm obj阿ectives瓣.凹As such按 the Bo疤ard Rep翱ort sho版uld pro凹vide

12、al芭l the n霸ecessar凹y infor哀mation 巴to supp骯ort the板 Board 捌in fulf壩illing 傲its res氨ponsibi靶l(wèi)ities.跋 In do斑ing so 扒it shou稗ld be:芭Externa傲lly foc芭used 凹Market 罷opportu邦nitiesThreats阿Competi矮tion氨Forward芭 lookin挨g把Driving笆 vision懊Alignin敖g opera壩tions t班o strat拜egy捌Refinin埃g strat岸egy as 俺require礙d敖Ch

13、allen拜ging to俺 the ma氨nagemen礙t team巴Driving案 perfor阿mance埃Questio奧ning th擺e statu埃s quo唉Underst疤anding 把a(bǔ)nd man矮aging r熬isks佰Managem巴ent rep敖orting 頒& opera搬t(yī)ional 芭reporti叭ng奧Managem佰ent rep隘orting 班is a br愛oad ter扮m which敗 may me背an diff稗erent t拔hings t懊o diffe稗r(nóng)ent pe案ople. 瓣It is, 懊therefo哀re,

14、nec阿essary 翱to unde辦rstand 笆the dis柏tinctio霸n betwe版en: 安managem岸ent rep案orting 案as used哎 by key稗 Execut鞍ives an安d senio艾r manag疤ement. 敗 These 鞍reports辦 are us唉ed to d芭rive de擺cision 叭making 癌and mea般sure wh扳ether o懊r not c跋orporat凹e objec柏tives a霸re bein把g met. 稗 This t骯ype of 柏reporti版ng need叭s t

15、o be霸 salien班t, rele耙vant, c氨overing班 both f擺inancia哀l and n扮on fina佰ncial c吧riteria拔managem把ent rep辦orting 背as used安 for da扮y to da壩y opera哀tional 瓣purpose案s. Exa柏mples i胺nclude 扮cost ce笆ntre re俺ports, 啊headcou百nt anal罷ysis, c罷all cen爸tre per皚formanc稗e etc. 壩 These班 report隘s are d擺ata dri昂ven and矮

16、enable熬 manage哀rs to r傲eview d凹elivery疤 of the背ir curr癌ent res捌ponsibi佰lities.半 These扮 report把s shoul罷d be st艾andard 盎in thei啊r prese跋ntation稗 and de扮livered爸 within背 minima艾l inter般vention皚 or ove笆rhead. 胺 This t絆ype of 白reporti哀ng is d白escribe瓣d as “o藹peratio叭nal rep骯orting”靶The foc愛us of t凹his pa

17、p頒er is t拜he Exec拜utive s爸tyle ma愛nagemen佰t repor邦ting半Design 背princip挨les in 巴Managem敖ent Rep斑orting捌It is r把ecognis疤ed that八 every 捌company版 will h背ave dif熬fering 氨informa拜tion ne邦eds for辦 runnin霸g that 埃corpora熬tion. 瓣As such伴 every 爸company百 will h愛ave dif熬ferent 俺managem辦ent rep背orting 叭needs.

18、半 It is,藹 howeve鞍r, nece埃ssary w頒hen rev隘iewing 叭or deve懊loping 叭report 案content艾 to hav藹e in pl壩ace cor暗e desig癌n princ跋iples. 俺 These 佰should 安include俺:頒deliver叭y of in暗formati按on whic澳h meets哎 the ne瓣eds of 敖key dec昂ision m半akers w傲ithin t罷he orga伴nisatio敖n芭deliver俺y of ti氨mely, r霸elevant壩 and ac

19、傲curate 吧informa捌tion wh般ich mee暗ts the 拜needs o鞍f the B擺usiness拔 as wel翱l as Fi傲nance吧deliver安y of in頒formati敖on not 班data, b扮ased on扒 the ph拔ilosoph笆y of “l(fā)柏ess is 叭more” (佰salient吧, conci跋se repo皚rting o阿f infor把mation 邦vs deli岸very of哎 signif按icant v阿olumes 敗of nume盎ric and懊 other 辦data)跋“one ve

20、佰rsion o骯f the t昂ruth” w愛hich de般livers 敗consist瓣ency of班 inform扒ation a跋cross t白he whol艾e organ罷isation案 (see S背ection REF _Ref31680652 r h 艾2.4澳 below)半use of 爸lead as岸 well a伴s lag i班ndicato叭rs (eg.八 for cu扒stomer 哀satisfa礙ction, 拔service敗 downti壩me may 矮be a le瓣ad indi伴cator, 稗custome絆r churn按 a

21、 lag 礙indicat敗or)愛incorpo襖ration 爸of oper辦ational拔 KPIs 半as well埃 as cor啊e finan襖cial me板asures 傲applica熬tion of盎 a bala氨nce sco懊re card擺 approa盎ch, ens阿uring c半onsider吧ation i笆s given敖 to fin哀ancial,敖 operat扒ional, 暗people/哎staff a皚nd cust稗omer pe哎rspecti跋ves.跋applica俺tion of芭 except邦ion rep盎orting

22、 般techniq瓣ues, wi按th sign敗ificant版 varian壩ces bei哎ng high挨lighted隘action 疤orienta骯ted rep俺orting,扒 in ter襖ms of c骯ommenta皚ry and 邦review敗dynamic笆 in nat疤ure. T阿he cont案ent and氨 format矮 of rep背orts ne疤eds to 敗be revi埃ewed an盎d refre佰shed to艾 ensure氨 they k柏eep pac背e with 芭changes敖 in the傲 Busine昂ss 按

23、Overvie埃w of th敖e casca岸de of i唉nformat熬ion半The man懊agement阿 report拜ing str安ategy s鞍hould b隘e based愛 on a c皚ascade 懊of info扳rmation氨 from t藹he Boar按d down 隘(ie. fr耙om Boar俺d to Di暗visions案 to Bus笆iness U俺nits an佰d ultim頒ately c頒ost cen哎tres). 癌 This i擺s repre埃sented 傲below:哀In deli八vering 芭this ca斑s

24、cade o暗f infor阿mation 芭it is n胺ecessar唉y to en爸sure co盎nsisten芭cy of i按nformat疤ion fro骯m the B敖oard th巴rough t阿o the c翱ost cen班tres. 版This is藹 based 澳on the 芭princip鞍l(fā)e of “扒one ver暗sion of扳 the tr佰uth”. 伴It ensu安res, fo版r examp俺le, tha哀t the r扳esults 稗of Divi案sion X 鞍as pres懊ented t扮o the D斑ivision

25、傲 X MD a扳re the 案same as扮 those 八being r頒eviewed按 by the艾 Group 靶CFO. A八s well 唉as cons辦istency矮 in con巴tent th拌ere sho昂uld als拜o be co背nsisten白cy in t拌he look暗 and fe柏el of r拌eports 邦to ensu俺re Exec啊utives 癌and man斑agement芭 can ne辦gotiate皚 them w哀ith eas盎e. 扒Definit百ion of 皚 conten拔t needs哀 to be 捌

26、“top do靶wn”. T骯he CFO/襖 Board 壩should 罷define 扮the Boa捌rd Repo愛rt cont佰ent suc般h that 阿it meet癌s their隘 needs.版 It al斑so need稗s to be佰 consis俺tent wi般th corp扒orate s俺trategy翱 and su佰bsequen版tly use白d to mo叭nitor p柏erforma壩nce and壩 drive 半busines柏s perfo扒rmance.懊 The n白eeds of按 the Bo鞍ard sho哀uld the

27、矮n be ca爸scaded 半down to懊 Divisi半ons, Bu艾siness 擺Units a辦nd ulti襖mately 拜cost ce案ntres. 笆 This e矮nsures 霸corpora班te stra唉tegy is吧 transl礙ated in般to oper吧ational捌 delive拜ry. Th凹is can 般be cont拌rasted 藹with th版e “bott拔om up” 邦content吧 driven半 approa愛ch, whe骯re cost拌 centre襖 report埃ing cas拌cades u背p to

28、 be襖spoke B安usiness按 Unit a敖nd Divi澳sion re頒ports. 疤 When a疤ggregat拜ed at t扳he Boar岸d level捌 this i半s usual壩ly char傲acteris吧ed by e邦xcel co笆nsolida百tions, 般signifi懊cant da凹ta volu熬mes and邦 the ne昂ed to r頒efer to把 incons般istent 唉Divisio拌n repor扒ts. 拜The use背 of Key唉 Perfor柏mance I暗ndicato跋rs (KPI扮s)霸

29、Managem懊ent rep稗orts sh百ould co阿ntain p吧erforma俺nce inf藹ormatio佰n relat絆ing to 俺the key拌 operat皚ional i按ssues a安s well 斑as fina笆ncial m芭easures絆. This般 is imp辦ortant 襖as chan伴ges in 胺operati扮onal me胺asures 埃tend to矮 be lea暗d indic傲ators o拜n futur稗e finan奧cial pe扒rforman哎ce (eg.扳 networ搬k build愛 is b

30、eh捌ind sch氨edule 板 cash f芭low sav盎ings in叭 the sh敖ort ter傲m, slow骯er sale翱s growt澳h in th皚e longe半r term)百. 吧The CFO瓣/ Board跋 should哀 agree 吧on the 阿KPIs pr凹esented昂 in the般 report八. Gener半al prin邦ciples 拔on KPIs跋 are:-阿availab霸ility: 啊frequen俺cy & ac阿curacy罷relevan班ce: al八ignment笆 to cri翱tical s班uc

31、cess 把factors敗accepta扒nce: l吧evel of隘 use in暗 the or笆ganisat扮ion/ in艾dustry扮topical拌: relev辦ance to邦 specif吧ic stra邦tegic i岸nitiati敖ves熬W(wǎng)hen es八tablish安ing fin愛ancial 伴and ope罷rationa佰l measu癌res for按 inclus按ion in 白managem八ent rep般orts, t奧his nee翱ds to b矮e done 昂with an伴 unders柏tanding哎 of rem罷uner

32、ati扒on and 按reward 敗structu艾res. T隘he two 皚need to拔 be con盎sistent拜. Fail扳ure to 奧do so w柏ill del版iver co艾nflicti澳ng mess挨ages. 鞍It is n般oted re搬ward ba拜sed mea唉sures w阿ill hav岸e the m氨ost pow靶erful i搬nfluenc翱e on da礙y to da翱y behav唉iours.扒Example暗 conten癌t敗As note扳d above斑, each 扒and ver敗y organ皚is

33、ation哀 will h霸ave the捌ir own 骯needs a案nd opin背ions, d疤riving 挨the loo柏k, feel百 and co安ntent o俺f the m哀anageme氨nt repo矮rts. A班 “唉leading阿 practi般ce安” manag班ement r疤eport (藹Board R柏eport, 笆Divisio邦n Repor暗t and c奧ost cen扳tre rep安ort) is吧 given,拔 howeve擺r, in A礙ppendix埃 1. Thi擺s repor哎t demon伴strates板

34、the 瓣leading藹 practi柏ce傲 princi笆ples hi阿ghlight芭ed abov澳e and i壩s to be胺 used f跋or refe哎rence p骯urposes唉 only.昂In term瓣s of co捌ntent i熬t incl板udes:百Execut捌ive sum芭mary 安A synop安sis of 白perform岸ance is板 provid稗ed by K笆PIs acc斑ompanie凹d by ap叭propria哀te acti搬on orie跋ntated 暗comment般ary. Us頒e of da哀ta

35、is l扮imited 扮to core頒 data o傲nly背Action 艾plan 暗correct啊ive act暗ions sp哎ecified安 with c芭ontinge懊ncies a拌nd sens罷itivity艾 analys般is show骯ing bes拌t and w案orst ca把se scen扳arios岸 挨(usuall按y in th俺e form 凹o(jì)f comm芭entary)擺Profit 岸and Los唉s state瓣ment 俺P&L acc氨ount sh氨owing p柏eriod a安nd cumu傲lative 啊positio

36、敗ns with按 highli熬ghted v氨ariance壩s again白st budg扒et. Any懊 major 鞍varianc捌es shou背ld be h昂ighligh安ted and靶 adequa耙tely ex擺plained懊. Trend隘 analys熬is shou半ld be s皚hown gr百aphical稗ly and 癌full ye背ar proj絆ections骯 shown斑Project盎ed outt把urn inc叭orporat柏ed in 哎P&L 八Project岸ed outt擺urns re背calcula板ted eac搬

37、h month愛 on the安 basis 絆of actu芭al perf敖ormance搬 and ac跋tion pl扳ans罷Cashflo翱w 笆Actual 俺and pro捌jected 礙receipt八s and p哀ayments辦 up to 笆the yea擺r end阿Balance扮 Sheet 懊- 鞍 positi邦on of w爸orking 安capital藹, asset耙s and l靶ong ter壩m inves暗tments 哎/ debt.礙吧Leading艾 practi愛ce辦 checkl白ist百M(fèi)ajor T版opics搬Leadin

38、g搬 practi巴ce霸 charac矮teristi百cs拔Indicat盎ive iss百ues / p百roblems擺General搬 princi鞍ples扮Relevan笆t -阿 The in氨formati巴on must拜 be bas擺ed on t翱he need安s of al敖l the d稗ecision擺 makers邦 (not j凹ust Fin盎ance) w跋ith a t瓣op down巴 focus 般(from t氨he Boar班d down)疤Relevan巴t 扳Informa頒tion pr礙esented俺 should八 be sha疤

39、rply fo巴cused a懊nd shou敖ld refl扮ect the版 define奧d objec案tives a澳nd stra扳tegy of愛 the or笆ganisat唉ion. 斑Accurat盎e 熬Informa皚tion sh芭ould be伴 of suf胺ficient扒ly high佰 qualit爸y that 白confide擺nce can般 be pla胺ced in 隘it. Its熬 reliab拜ility i辦s depen背dent on奧 its so靶urce, i氨ntegrit版y and c襖omprehe擺nsivene熬ss百

40、Timely 岸暗 The in背formati藹on shou瓣ld be a懊vailabl板e(cuò) promp頒tly eno耙ugh to 案plan fr藹om it a盎nd take笆 correc邦tive ac澳tion (s翱ee Sect柏ion REF _Ref31168111 n h 靶4叭: Mont般h end c罷lose)笆Integra哀ted 熬Reporti絆ng info八rmation扒 should傲 includ耙e both 癌operati熬onal an巴d finan襖cial KP骯Is wher骯e the e擺ffect a邦nd im

41、pa唉ct of o凹peratio扒nal per跋formanc瓣e on fi傲nancial八 report埃ing is 壩clearly拌 unders壩tood. B岸oth lea盎d and l藹ag indi扒cators 疤are to 班be used藹Balance邦 scorec傲ard app襖roach 辦 The ma笆nagemen啊t repor哎t shoul拔d inclu半de info胺rmation瓣 on the氨 differ拜ent asp皚ects of白 an org把a(bǔ)nisati凹o(jì)n i.e.隘 Financ挨ial, Cu跋st

42、omers癌, Peopl辦e and O埃peratio辦ns疤Graphic矮al pres柏entatio拌n -靶 捌 柏Informa柏tion sh絆ould be疤 presen半ted in 捌an easi俺ly assi八milated疤 format邦 e.g. i扮n a cle澳ar dash霸board f罷ormat a熬nd use 礙graphs 頒where a百ppropri啊ate阿One ver皚sion of吧 the tr吧uth 百- Both白 financ背ial and邦 non fi哎nancial跋 data s盎ources 襖use

43、d ac擺ross th辦e organ骯isation骯 are co懊nsisten埃t (eg. 俺results鞍 for As昂ia Paci昂fic as 跋present背ed to G絆roup CF耙O are s疤ame as 巴those p疤resente熬d to As伴ia Paci辦fic MD)挨Consist罷ency - 芭 The lo稗ok and 俺feel of耙 the re版ports f按rom Gro拔up to 瓣Divisio奧n to Bu盎siness 拌Unit to胺 Cost C佰entre n傲eeds to靶 be con擺

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