Finance checklist
A good MIS isn't the one with the most pages. It's the one that helps management decide. Use this checklist to test yours.
The monthly MIS checklist.
Timing
Delivered by the 12th, based on closed and reconciled books.
Sales
Month-on-month and year-on-year, target vs actual, by customer, product or location.
Profitability
Gross and operating margin, an explanation of margin movement, top customers and products by margin.
Cash
Cash position and forecast, receivable and payable ageing, working capital days.
Business drivers
The three to five numbers that drive your model: utilisation, food cost, average order value, capacity, whatever applies to you.
Actions
Issues needing attention, decisions required, and whether last month's actions were done.
The real test.
- Did anyone discuss it?
- Did it change a decision?
- Did it lead to an action with an owner?
If the answer is no, the problem may not be the report. It may be the missing review rhythm. That's why we built MBRICKS™.