Reporting for operation 0

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Reporting for operation 0

  1. 1. Copyright © Wondershare Software Reporting for Operation Finance Perspective 道,可道, 非常道;名,可名,非常名 Dick Lam Jul 2014
  2. 2. Copyright © Wondershare Software I am always a junior manager Detail + Logic » Flexibility • I only focus on figures which is related to daily operation • I don’t have any strategic thinking; rather, just deal with reporting of expenses, staff turnover, absenteeism, canteen, dorm, daily sales, daily scrap & all trivial stuffs; above all, asking people do what they should do • To certain extent, my work is rather lame to senior management; I don’t say anything presentable! • I am just summarizing/restating something you have ever heard before 知人者智,自知者明
  3. 3. Copyright © Wondershare Software This is me… • BBA in Accountancy (HKBU) • Master of Arts in E-Business (CityU) • Fellow of ACCA • Worked in various MNC and industries, mainly manufacturing in mainland China, focus on management accounting, business strategy, tax planning, supply chain management and new business setup in PRC • 2010~2011, Consultant in a US consulting company for a countrywide supply chain project • Now, Director of Business Process of a US mfg co. Detail + Logic » Flexibility勝人者力,自勝者強
  4. 4. Copyright © Wondershare Software Contact Details Mr. Dick Lam Chor Ki dicklam128@gmail.com http://dicklam128 .wordpress.com http://www.box.net/dicklam128 Detail + Logic » Flexibility
  5. 5. Copyright © Wondershare Software THE CAN DO ATTITUDE • You CAN DO everything, but not all at once. • You CAN DO everything, if it’s important enough for you to do. • You CAN DO everything, but you may not be the best at everything. • You CAN DO everything, but there will be limitations. • You CAN DO everything, but you’ll need help. Detail + Logic » FlexibilityPositive Attitude is Everything
  6. 6. Copyright © Wondershare Software Agenda - I 1. Theories before The Data 2. The Pandora Box 3. 4 Critical Accounting Principles 4. Sales Reporting 5. Ratio – Relationship 6. Risk & Performance Indicators 7. Materials & Production Reporting 8. I.T./Excel – The Indispensable/Mandatory 9. People Reporting 10. Overhead Reporting Detail + Logic » Flexibility
  7. 7. Copyright © Wondershare Software Agenda - II 11. Reporting of Other Activities 12. Income Statement a) Weekly Income Statement b) Monthly Income Statement c) Bridge 13. Balance Sheet Reporting 14. Value of Finance Department 15. Budgeting & Forecast 16. Connotation Detail + Logic » Flexibility
  8. 8. Copyright © Wondershare Software Clarification • We are not just dealing with figures but also with substance of transactions and the incumbents • We are members of the operation team of the organization • We are not just caring about the past but also the present and the future Detail + Logic » Flexibility
  9. 9. Copyright © Wondershare Software The Syndrome • A lot of activities in every day operation – Sales – Purchasing – Materials Planning – Logistics – Production – Quality – Customer Services – Finance Detail + Logic » Flexibility
  10. 10. Copyright © Wondershare Software A lot of data gathered • Sales & Gross Margin • Production Output • Materials Usage & Scrap • Headcount & Turnover • Customer Complaint & Quality Issues • Income statement • Information is useless if it cannot trigger action • Action is useless if it cannot yield return • Knowledge is useless if it cannot help avoid recurrence of problems Detail + Logic » Flexibility
  11. 11. Copyright © Wondershare Software Critical Elements for Effective Reporting Format Data Questions • Tidy, Clean & Consistent • Border line • Color to highlight • Subject • Drill-down • From summary to detail • Ask the right question to the right people • Action Required • Due Date 1 2 3 Detail + Logic » Flexibility
  12. 12. Copyright © Wondershare Software I.T. – Used in the right way  Mess of figures  Just to prove things being done Data  Trigger useful actions  Help generate alert Knowledge Detail + Logic » Flexibility
  13. 13. Copyright © Wondershare Software Materials What and how many? 1 Man How many and Any idle? 2 Machines Utilization? Any excessive capacity? 3 Method The planning methodology and way of working 4 4 M we care Detail + Logic » Flexibility
  14. 14. Copyright © Wondershare Software Thank you for your attention! Any Questions? Detail + Logic » Flexibility

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