Financial reports can quickly lose value if the information being reported is not useful or relevant to the end user. A report’s usefulness increases considerably when you are able to compare it with prior years’ data, a budget, or industry figures. To ensure comparability, it’s important for any company to maintain the same methods and principles for accumulating data from one period to the next. Without consistent controls and reporting, your data becomes unreliable and ineffective in allowing you to make important and informed business decisions about your construction company.
Other guidelines to keep in mind when preparing important financial reports …read more
Read more here:: Construction