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Report / Reporting

What is reporting? Definition and meaning

The reporting system, also referred to as “reporting”, encompasses all records/reports that exist within the company.

The reports contained therein capture business operations in numerical terms. The most important reports in a company are, for example, the balance sheet and the income statement. But reports such as earned value analyses, target-actual comparisons, general cost evaluations, or customer analyses are also extremely important, particularly for sales.

Internal and external reports

Reports also serve for internal and external reporting.

  • Internally, reports serve as a controlling instrument. They help to keep track of profitability, costs, personnel, and other relevant figures, and to weigh up decisions.
  • External reports are passed on to tax advisors or tax authorities.
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Frequently asked questions

Which reports are particularly important for a company?
The most important reports are the balance sheet and the income statement. Earned value analyses, target-actual comparisons and general evaluations of costs and customers are also important, especially for sales.
What is the difference between internal and external reports?
Internal reports serve as a controlling instrument: with them you keep track of profitability, costs and personnel and weigh up decisions. External reports are passed on to tax advisors or tax authorities.
What is internal reporting used for?
Internally, reports serve as a controlling instrument for keeping profitability, costs and personnel in view. With project controlling from projectfacts you keep an eye on these figures and weigh up decisions on a sound basis.