BUSINESS REPORTS

 BUSINESS REPORTS

A report is a method of giving information about something seen or investigated. It is a formal presentation and is written complete with conclusions reached and recommendations made. It provides background material and relevant information in decision-making and action-taking.
It is rightly said that reports carry information from those who have it to those who need it. They reflect flow of information and have become integral part of modern information management for decision-making.

Reports have become, over time, basic management tools for decision-making. These are extremely important for firms that have grown in size. All the facts and figures cannot be masterminded by one individual like a proprietor / entrepreneur does in a small enterprise.
For larger firms, reports are indispensable. They have emerged as a very good way of ensuring participative management for better decision-making and carrying the business forward faster on the path of growth and expansion.

CLASSIFICATION OF REPORTS

Reports can be classified in several ways as under:

(1) Classifying on the basis of form of communication

 Oral reports
 Written reports

(2) Classifying on the basis of legality
 Informal (short) reports
 Formal (long) reports
Formal reports can be further subdivided:
 Statutory reports
 Non-statutory reports

(3) Classifying on the basis of frequency of issue
 Periodic reports (also called Routine reports)
 Special reports

(4) Classifying on the basis of functions
 Informative reports
 Interpretive reports (also called Analytical or Investigative reports)

(5) Classifying on the basis of nature of subject
 Problem determining reports
 Fact-finding reports
 Performance reports
 Technical reports

(6) Classifying on the basis of number of persons entrusted to draft reports
 Reports by individuals
 Reports by team
 Reports by committee or sub-committee