I believe that in information in the hands of a wise business owner is a wonderful thing. However, that information has to be both timely, informative, and useful. Absent these three factors being fully satisfied then I would suggest changes should be in order.First: I believe financial should be issue on longer that the fourth workday after the close of a month. Absent their timely relevance, financial’s should not be distributed as much of the cause of their need would have lapsed.
Secondly: I believe that financials should be clear and concise and not uduly culletered with unnecessary accoutns will little or no monies in them or even subaccounts. If an account is not substantive enough to stand on its own merits then it should not exist at all.
Thirdly: And equally as important is that all financials should tell a story but often the subleties and interpetations of their significance can only be adequately expalined or clarified by narratives or substantiating statistics and infromation.
Providing timely and usefuly information is a financial departments primary and most important task and must be achieved in order for the business to both survive and thrive.