Why is financial information important?

Your company’s financial information is very important because it is often used to evaluate a company’s financial performance. Some aspects of financial reporting are even required by law. For example: Creditors such as banks will require your financial information to assess your eligibility for a loan Investors need your financial information to assess whether they want to invest in your company Managers & owners of the business use financial information as a way to measure past and forecast future performance.

What are some sources of financial information?

Financial information can come from many sources such as a companies credit card statement or bank account. However this will never give enough information to make the judgment on overall performance. To do this effectively, you ideally need the balance sheet, income statement and a cash flow statement. Each of these statements gives a different insight useful for the overall assessment of how a business is performing.

Types of financial information?

There are four main financial information statements. They are: Balance sheets Income statements Cash flow statement Statements of shareholders’ equity. Financial information can also be more broad and include any relevant information in relation to money such as credit card statements or bank transactions.

What is non financial information?

Non financial performance are simply measures of success in a business that are not expressed as a monetary value. Non financial reporting might include things like environmental impact, diversity in the workplace and social responsibility. These kinds of measure are increasingly important for determining the overall success of a company.

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Get the latest insights into how Australia ticks with our reports and campaigns on current business trends.

Boomers vs Zoomers

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Boomers vs Zoomers

We have researched and analysed the biggest issues each generation faces in the Australian job market in our Boomers vs Zoomers report.

Balanced Careers

We have researched and analysed the careers and industries that offer the best (and worst) work-life balance in Australia in our latest report.

Wage theft in Australia

We analysed data from the past five financial years to discover how wage theft has affected Australians across states and industries.

Gender imbalance in Australian small businesses

We analysed ABS data and surveyed 1,000 Australian small business owners to discover how many small businesses are run by women, the industries they operate in, their earnings, and the challenges they encounter.

Australia’s most hated corporate jargon

We surveyed 1,000 Australian office workers to determine how many Aussies are using corporate jargon at work and their general attitude towards corporate jargon.

Australia’s Hardest Working Cities

We’ve looked at 7 weighted factors like working hours, productivity and unpaid domestic work to create an index score for each city, determining which is the hardest working.

Australia’s Part Time Work Hotspots

We analysed 15 years of Census data to determine which Australian towns and cities have the highest percentage of part-time workers. See why!

Start-up cities

We’ve analysed and researched the 50 largest cities in Australia to find where the best place to start a business is. Check our new report!

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Reckon Blog

Visit the Reckon Blog to get the latest news and insights into the small business world in Australia. Whether you're navigating new regulations, exploring growth strategies, or keeping up with trends, we’ve got you covered. Back yourself and learn how to think about your business differently!