Choose two financial reports that are used on a frequent basis in retail organizations, such as weekly, monthly, or quarterly sales reports, inventory control reports, labor management reports, or other reports of your choice.
Conduct research to gain a full understanding about the reports you chose to study. Be sure you understand the processes used to analyze reports and determine how the information contained in each report is used.
Specifically, make sure you understand the following:
How the reports are organized and what the terminology in each report means.
How managers use these reports to examine daily, weekly, and monthly business performance.
How these reports are used to make day-to-day decisions in response to business results.
Based on your research and this week’s course content:
Describe the focus and content areas of each of the two reports that you have chosen.
Explain how the data in the two reports is related.
Compare and contrast the two reports in order to determine their relative values as support tools for decision-making.
Identify at least two different types of actions that managers might take based on the data contained in each of the reports. Explain why these types of actions should be based on the information in the respective report.
Write a four-page paper (minimum) that thoroughly addresses all areas included under Instruction #5. The minimum length does not include the title page, abstract, reference page, or any additional pages containing charts, appendices, etc. Cite a minimum of two outside sources used in your research to support your work. You must give appropriate credit to the sources of the material. The guidelines for In-Text citations may be found here.
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