Business is all about paperwork. From deals to expenditures, there are hundreds of reports to deal with. When you are in hardcore business, it is strongly recommended to have everything in written to avoid future discomforts and disagreements and hence what we have at the end of the day is another five bills. This way, as business grow, so does the pile of documents. Therefore, we need to organise them, but before organising we need to divide all the documents in appropriate categories. Categorising documents makes their access easy and comfortable. Hence, keeping that in mind, we have list out the categories your documents will go into. We have also briefly listed out the documents that goes in those categories. Therefore, without any further ado, here they are:
Report are categorised into many categories depending upon the their functionality, their purpose and the depth of their descriptions also.
There are basically three type of business reports depending upon the what report contains:
- Informational Report
Informational reports are generated when certain data is to passed. This report doesn’t contain any conclusion, suggestion or opinion, it simply states the fact. For example, if a report is to be drafted about employees of an organisation, it will be informational report.
It will simply state the names of employees, their performance reviews, post, salary and other relevant data. It do not need further remarks or view of the drafter. The purpose is to give information and it is fulfilled. Usually information reports are drafted in specific interval of times like monthly, weekly or annually.
- Analytical Report
Analytical report as the name itself suggest will contain analysis of certain aspect of a business. Such reports help an organisation to address a problem, come to a conclusion and make appropriate decision. Such reports can be factual or narrative in nature.
For example: If we need to make a financial report for an organisation, where we need to display the expenditure, income, quarterly sales, profit and loss, and all other related data, at that time the report that is generated is called analytical report. In such reports, data are analysed and conclusion are made. Decisions and future planning are altered or developed depending upon the conclusion of analytical reports.
Like in previous example, one the financial report is concluded, future plannings will be developed depending upon the conclusion, whether sales are to be increased or whether their profit is going in right direction with right speed.
- Research Report
Research reports are drafted by executives when new products are to be launched or new market is to be searched. Research reports are generated when specialists are asked to generate report on certain topics. This report includes market research, statistics, including facts. The report contain conclusion and also provide alternated solutions backed by the research data they have obtained.
Reports can be broadly divided into two categories depending upon their nature:
Such reports are written to be presented in formal procedures. There are certain rules and format to be followed. These documents are legal in nature and needs certain authentications. These are usually framed to be presented before high ups, like court, other companies and cooperative societies.
Such documents are simply drafted as is pleased by the drafter. There are no particular format and there is no pre-defined procedure to access such documents. These can be presented to required person at any time without facing any legal objections.
There are literally thousand types of reports that are generated in day. For our convenience, we have categorised reports into several categories.
Reports can be organised on the basis of their function.
- Informative reports
As the name itself suggests, these reports are informative in nature. They are drafted for the purpose of documenting and forwarding information. Such reports are usually prepared for analysis of current situations, events or affairs.
They are factual in nature. Instead of being informative, they tend to simply state facts, views and insights of other reporters, businessman and other related bodies.
Another type of reports are generated at the end of the every meeting
- Elaborate one
Such reports are usually generated at the end of a serious conference or meeting where everything said is documented.
- Summarised Reports
Such report only care for the overall description of what happened in the meeting
When you are dealing with a business, you must get ready to deal with loads of paperwork as well. No business is complete without reports and documents. Report and documents are important to know where business are heading and how well strategies are turning out to be.ßTags: budget, business report, documents, finances, formal, informal, money, report