Download - 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
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I am always a junior manager
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• 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
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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
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Contact Details
Mr. Dick Lam Chor Ki
http://dicklam128 .wordpress.com
http://www.box.net/dicklam128
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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
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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
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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
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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
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The Syndrome
• A lot of activities in every day operation– Sales– Purchasing– Materials Planning– Logistics– Production– Quality– Customer Services– Finance
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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
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x7 8 9 / off
4 5 6C
1 2 3
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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
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I.T. – Used in the right way
Mess of figures Just to prove things being
done
Data
Trigger useful actions Help generate alert
Knowledge
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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
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Thank you for your attention!
Any Questions?
Detail + Logic » Flexibility