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Historical Financial Reporting vs. Future Financial Reporting

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
There are two main types of financial reporting conducted by Los Angeles and Southern California businesses: historical reporting, which looks back at past financial performance, and predictive reporting, which proactively looks ahead to future financial performance.

While the vast majority of businesses concentrate most of their efforts on historical reporting, predictive future reporting provides more value by enabling executives to be more proactive in their financial operations and decisions.

This article looks at examples of both historical and future financial reporting. Also reviewed are differentiators, as well as the rationale for and benefits of implementing future reporting.

If you or your clients are focusing on historical reporting, you can serve a valuable role by supporting a shift to predictive future reporting. An outsourced CFO services firm can help understand the differences between these different types of reporting and help reap the many benefits of future predictive reporting.

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