Reporting for operation 0

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Reporting for OperationFinance Perspective

道 ,可道 , 非常道 ;名 ,可名 ,非常名

Dick Lam Jul 2014


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


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


Contact Details

Mr. Dick Lam Chor Ki

[email protected]

http://dicklam128 .wordpress.com

http://www.box.net/dicklam128



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


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



Agenda - II

11. Reporting of Other Activities

12. Income Statementa) Weekly Income Statement

b) Monthly Income Statement

c) Bridge

13. Balance Sheet Reporting

14. Value of Finance Department

15. Budgeting & Forecast

16. Connotation



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



The Syndrome

• A lot of activities in every day operation– Sales– Purchasing– Materials Planning– Logistics– Production– Quality– Customer Services– Finance



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


x7 8 9 / off

4 5 6C

1 2 3

0 %.

-=+


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



I.T. – Used in the right way

Mess of figures Just to prove things being

done

Data

Trigger useful actions Help generate alert

Knowledge



Materials What and how many?1

ManHow many and Any idle?

2

MachinesUtilization? Any excessive capacity?

3

Method The planning methodology and way of working

4

4 M we care



Thank you for your attention!

Any Questions?


Leadership & Management

Reporting for operation 0