Key Financial Reports Every Controller Should Deliver Monthly
- Bob Swetz, CPA
- Sep 30
- 4 min read
As a Controller, your job isn’t just about closing the books and keeping the auditors happy. You’re the financial compass for your company, helping leadership navigate through both calm waters and stormy seas.
And like any good navigator, you need to bring the right maps to the table, or in this case, the right financial reports.
Every month, certain reports should be non-negotiables. They’re not just check-the-box items for compliance, they’re tools for strategic decision-making. Whether you're in a growing startup or a well-oiled enterprise, these are the core reports you should be delivering without fail.
Let’s break them down.
1. Income Statement (aka Profit and Loss Statement)
This is the big picture, your company’s scoreboard. It shows revenues, expenses, and profits over a given period. For most leadership teams, this is the go-to report to understand if the business is actually making money.
But here’s the key: don’t just throw the numbers on a page. Include context.
Are margins improving month over month?
Are expenses spiking in areas that weren’t budgeted?
Did that marketing campaign actually move the revenue needle?
According to a study by PwC, 73% of executives say financial reports help them make better business decisions, but only 29% feel they’re getting actionable insights from their reporting.
Translation: Controllers who interpret the numbers, not just report them, become indispensable.
2. Balance Sheet
While the income statement shows how the company performed, the balance sheet shows where the company stands financially. It gives a snapshot of assets, liabilities, and equity.
Each month, this report helps leadership see:
How much cash is on hand
Whether short-term liabilities can be covered
The strength of the company’s capital structure
Think of it as the health check-up. A profitable company can still be in financial trouble if assets aren’t liquid or debts are ballooning.
Pro tip: Highlight significant shifts in ratios like Current Ratio, Debt-to-Equity, and Working Capital to show risk or improvement.
3. Cash Flow Statement
If the income statement is the scoreboard and the balance sheet is the snapshot, the cash flow statement is the play-by-play.
This report tracks how money is actually moving in and out of the business. For cash-conscious organizations, and let's be honest, that's every business these days — this is the report that tells you if you can keep the lights on next month.
Break it into:
Operating activities
Investing activities
Financing activities
Controllers who call out irregularities or unexpected trends in cash flow stand out. For example, maybe net income is up, but operating cash flow is down. That’s a red flag, and your CFO will want to know why.
A U.S. Bank study found that 82% of small businesses fail due to poor cash flow management or poor understanding of how cash flow impacts the business.
4. Budget vs. Actuals Report
This one’s a classic, and still underrated. Comparing budgeted numbers to actual results helps identify areas of over- or under-spending, revenue gaps, and overall financial discipline.
It’s not just about catching mistakes. It’s about accountability.
Did marketing stay within budget? Is the sales team delivering what was forecasted? Are overhead costs creeping up?
More importantly, it creates a feedback loop. If budgets are consistently missed in a department, maybe it’s not a budgeting problem, it’s a strategy or resourcing issue.
Controllers should use this report to ask smart questions and spark smarter conversations.
5. Accounts Receivable Aging Report
Cash flow issues often start here. This report shows outstanding customer invoices and how long they’ve been unpaid.
Segment the report by:
Current
30 days past due
60 days past due
90+ days past due
Why is this critical? Because delayed payments can quietly choke your cash flow. And it often slips under the radar, especially in companies where customer relationships are handled by sales, not finance.
Your job is to spot trends and flag risks. Are certain customers chronically late? Are payment terms too generous? Does your collections process need tightening?
6. Accounts Payable Aging Report
On the flip side, the AP aging report shows what the company owes and when it’s due.
Delivering this monthly ensures that:
Vendor relationships stay intact
There are no surprises when payments come due
You can take advantage of early payment discounts
More importantly, leadership can use this data to manage short-term cash planning more effectively. For instance, deferring non-critical payments during tight months can make or break a business.
7. Key Performance Indicator (KPI) Dashboard
Every company has its own “North Star” metrics. As Controller, part of your role is helping the organization stay focused on them.
Depending on the business model, your KPI dashboard might include:
Gross margin %
Operating margin
Revenue per employee
Customer acquisition cost (CAC)
Days sales outstanding (DSO)
The KPI dashboard shouldn’t be a data dump. It should be visual, digestible, and tied to goals. Bonus points if you can integrate this with your BI tools like Power BI or Tableau.
A report by Deloitte found that companies that regularly track KPIs tied to strategic goals are 2.5x more likely to outperform their competitors.
Final Thoughts: Make the Numbers Tell a Story
Financial reports are only as good as the narrative they support. Your job as Controller is to be the storyteller, to connect the dots, translate data into insight, and deliver it in a way that informs smart decisions.
Don't just drop spreadsheets into inboxes and call it a day. Take the time to highlight what changed, why it changed, and what it means.
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