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What is Reporting?
Home » Management » The Art of Good Reporting » What is Reporting?Businesses create, read, study and act on information from reports. The art of good reporting makes action related to the report easier and more effective. Reports are produced in order to give decision makers the information they need to take informed action.
Raw data can be overwhelming, even to the most seasoned pro. Therefore, reports are generated that condense massive amounts of data into a format that can be actionable. A 1,000 page report on the environmental impact of disposing industrial waste is helpful, with it’s graphs, charts, summaries and conclusions. However, a smaller report, which condenses the information and conclusions of the larger report, can be read, understood, and acted upon by corporate decision makers much faster. The larger report still exists if additional information is necessary, but the summary and more concise format make the smaller report just as valuable, if not more so, than the larger report. The difference is in making the information and conclusions available to the decision-makers quickly and accurately.
Reports not only summarize data and information, but can also be used to offer choices and possible solutions. When called upon to do so, a report writer can draw conclusions and make recommendations based on what was discovered during the research phase of the reporting process.
Reports are required in some instances to show compliance to government regulations or corporate rules. A state or federal tax return completed and filed by an individual is a report. It is irrelevant that the government can find out the information through other channels. It is required that each person who receives a certain dollar amount of income during the year must file a tax return. Failure to do so will eventually result in severe penalties. Just ask singer, Willie Nelson. He is well aware of the consequences of failure to be consistent in annual tax filing.
Other reports are used to show compliance to federal regulations, such as emissions controls, payroll taxes, and social security withholdings. These are all mandated reports that must be accurately filed on a regular basis to avoid penalties and fines imposed by the government.
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