Operational Management Courses
What is an Operating and Financial Review?
The operating and financial report is a narrative report that an organisation’s senior management prepare as part of the financial statements. It outlines the business' strategic and operational objectives and how well or badly the business has performed when compared against these objectives. The UK’s department of trade and industry argued that an OFR is “made annually to shareholders, setting out the principal drivers of a company’s performance both in the past and in the future.”
The OFR also discusses the organisation’s business model, risk management policies, the business’ treasury strategies and the historical key performance indicators. The historical key performance indicators are analysed backwards, usually looking at the five year period going backwards from the year being reported in the financial statements.
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