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Board Reporting

In this guide you will learn what board reporting is, and how to put together a board report

What is Board Reporting?

Board reporting is the process of reporting company information to the Board of Directors

Why is Board Reporting So Important?

It is important because the Board of Directors can make the ultimate decisions on what happens in the company

This is not a group of people you want to be on their bad side!

They also often times hold very high positions in operating the company, and funding the company

What does a Board Meeting Typically Look Like?

It often times starts with the board receiving a slide deck or “pre read” before the meeting takes place

This way the board has enough time to review the details, and ask any follow up questions during the live meeting

The Board meeting will then start with a call to approve the minutes, and discuss the various sections of the business

This can be in as little as 30 minutes, or as long as a few hours

What Should You Include in a Board Report?

What you include in a board report is very dependent on answering the following question…

What Should You Include in a Board Report?

What is the purpose of this board meeting?

You Board meeting can be about ANYTHING

Most often it’s to check in on how things are going, and how they can provide help

It can also be about:

  • An upcoming fundraise

  • A quarterly review

  • Planning for next year

  • A strategic initiative

Although the reason can vary, most board meetings include the following:

  • Summarized Dashboard

  • Budget vs Actuals

  • Summarized Financials

  • Updates to the other areas of the business

We’ll go over an example at the end…but first, let’s discuss HOW to put together a board report

How do you put together a board report?

There are many ways you can put together a board report

The most common is to use a combination of a slide deck, and an excel file

Slide Decks

For Slide Decks…you have a few tools you can use:

  • Microsoft Powerpoint

  • Google slides

  • Notion

  • Google Docs

  • Microsoft Word

The data from your slide deck can come from many places.

The most common sources are:

  • Your Accounting Software

  • Your Financial Model

  • Your CRM

  • Your HR Platform

  • Your Payment Gateway

What Financial Slides do you include in a board report?

An example Board Report

Here we will share an example board report

Note that we will be covering only the financial section of a board report

A true board report can have much much more content included!

The Dashboard

I like to start with a dashboard, showcasing the 6-8 most important things that happened in this period

It’s also OK to compare this to another period!

Budget vs Actuals

Now we shift our attention to one of the most important reports, the Budget vs Actuals

This report tells you:

  • what you THOUGHT would happen

  • what ACTUALLY happened

  • WHY it happened

  • what’s the ACTION is needed (if any)?

Profit & Loss

Now we get to the 3 financial statements, starting with your Profit & Loss

It’s common to show this (as well as all 3 statements) on a SUMMARIZED basis

Balance Sheet

You may not think a Balance Sheet is important

But it IS!

And investors LOVE reviewing Balance Sheets (for good reason)

Cash Flows

Now we get to another important financial statement

Your Cash Flows

Don’t forget that CASH = KING

If you can show both the past & the present, even better!

Thank you for reading!

If you liked this, you may also like my course on CFO Dashboard and Reporting


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