Seven (7) Tips to Improve the Presentation of your Reports

1. Master the use of comma in your reports.

Don’t commit the mistake of not using comma properly or not using them at all in your reports.

Numbers are not pleasing to see without the commas.

Use comma; otherwise, the recipient of your report (i.e., COA, DBM, or your boss) might think that you don’t know how to use elementary rules in formatting numbers.

Believe us, there are preparers who still commit this mistake.

2. Reconcile balances between and among reports.

Accounting reports, as you know, don’t work independently from each other, most of the time. Hence, they have to be reconciled all the time.

For instance, your Cash Flow Statement should be reconciled with your cash account in your Financial Position as well as your general and subsidiary legers.

In the same way, your BFARs should reconcile with each other. Unless you do not know, FARs 1, 1A and 1B should reconcile to each other.

[READ: 10 Valuable Tips in Preparing Your BFARs)

3. Be mindful of your margins, headings, alignments, rows, columns and peso sign.

Simply said, master the basic rules in formatting your reports.

4. Be likewise mindful of your spelling, grammar, and punctuation marks.

Remember, in accounting, you don’t only deal with numbers, you also deal with words.

So, if you are not good with words, start practicing writing now.

5. Be careful of your formulas.

Try to recompute the balances of your reports even if you know Microsoft Excel (ME) or Google Sheets (GS) is doing this for you all this time.

Don’t rely too much on the functions and formulas of your ME/GS. It’s always best to double check your sub-totals, totals, and grand totals before finally printing them.

Do this often and you build credibility through your accurate reports.

6. Don’t use old forms anymore.

Stop using SAOB already. Use BFARS instead.

Ensure that you are always updated with the current guidelines.

7. Just like in No. 6, stop using old accounting terms.

Avoid being called as an oldie. Oldies use outdated accounting terms.

For instance, they still use Balance Sheet instead of Statement of Financial Position; or Income Statement instead of Statement of Financial Performance.

Remember, age should not be an excuse for becoming excellent.

Try these tips today and you’ll see improvements in the presentation of your reports.