Preparation of financial reports

Prepare financial reports

Financial reports become convincing when accounts not only contain numbers, but are arranged in a clear hierarchy of account classes, balance sheet, income statement and BWA groups.

Why this point is crucial for key users

The key user shapes the language of management. With a well-thought-out reporting hierarchy, account balances become immediately understandable assets, results and control images.

How to prepare for the process safely

1. Define the desired structure for the balance sheet, income statement and BWA.
2. Create hierarchy levels, parent relationships and sorting.
3. Clearly assign all relevant general ledger accounts.
4. Review reports over a full period and track samples through posting.

Check before sharing

• Groups do not overlap and have a logical order.
• All required accounts appear exactly where they should be.
• Report totals match trial balance.

What your team gets out of it

The financial reports tell you at a glance what has happened in the company - without readers having to decipher the chart of accounts.

In this chapter

• Account classes
• Balance sheet groups
• P&L groups
• BWA groups

Related topics

1. For key users – understand and prepare processes › Finance › Preparation of financial reports › Account classes
2. For key users – understand and prepare processes › Finance › Preparation of financial reports › Balance sheet groups
3. For key users – understand and prepare processes › Finance › Preparation of financial reports › P&L groups
4. For key users – understand and prepare processes › Finance › Preparation of financial reports › BWA groups

Frequently asked questions