Describe some general characteristics of management reporting systems.

CPA-Quantitative-Analysis-Section-4 BLOCK RELEASE

 Management Reporting Systems characteristics: –
i. Provide the feedback path in the target/budget versus actual results systems enabling management control on appropriate organizational key issues.
ii. May cover long medium or short time periods depending on the level of management using the reports.
iii. Are oriented towards the past or present time.
iv. They summarize or classify key data and present the information in standard formats either on screen or paper printouts.
v. Sources of data must be consistent over time to ensure like is compared with like.
vi. Are stable over a significant time period.

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