6. Finance systems: finance reporting

A company needs to keep tight control of its finances. A finance control system will be put in place to do this.

There are some basic things it needs to be able to do

Finance reporting

There are some standard accounting reports used to assess the financial position of a company. These include:

• Cash flow position (do we have enough cash to pay the bills)
• Profit and Loss report (are we successful or not)
• Balance sheet (what assets do we have and what are our debts)
• Tax liability (VAT, corporate tax due etc)