Q:

What is a periodic report?

A:

Quick Answer

A periodic report, or a recurring report, is a written document that summarizes the events that have occurred since the last periodic report was written. Periodic reports are written by federal agencies, corporations, non-profits and other institutions. Periodic reports often cover the same basic set of information and rely on numerical data to provide an overview of a specific time period.

Know More

Full Answer

There are five main types of periodic reports: incident reports, sales reports, progress reports, feasibility reports and site reports. Incident reports track the causes and effects of certain events. For example, an incident report would be created after a company merged or changed management. An incident report helps to identify effective strategies to make a business successful. Sales reports track the growth and success of a business. This is an especially valuable report for analyzing the strengths and weaknesses of marketing strategies.

Progress reports and site reports are both very similar. Progress reports track overall business activity and monitor specific changes made to the business. A site report also looks at business activity, but includes recommendations for improvement. The last kind of periodic report, a feasibility report, is used to determine whether or not a change or strategy is feasible or in the best interests of the business.

Learn more about Accounting

Related Questions

Explore