This document outlines various key performance indicators (KPIs) for financial management. It provides examples of KPIs for payroll management including cycle time to process payroll and percentage of untimely payroll payments. Asset management KPIs include age of assets and total current assets. Budget KPIs focus on forecast accuracy, deviation from planned budget, and time taken to close the budget. Finally, general financial KPIs are listed such as weighted average days paid in receivables and revenue.
This document outlines various key performance indicators (KPIs) for financial management. It provides examples of KPIs for payroll management including cycle time to process payroll and percentage of untimely payroll payments. Asset management KPIs include age of assets and total current assets. Budget KPIs focus on forecast accuracy, deviation from planned budget, and time taken to close the budget. Finally, general financial KPIs are listed such as weighted average days paid in receivables and revenue.
This document outlines various key performance indicators (KPIs) for financial management. It provides examples of KPIs for payroll management including cycle time to process payroll and percentage of untimely payroll payments. Asset management KPIs include age of assets and total current assets. Budget KPIs focus on forecast accuracy, deviation from planned budget, and time taken to close the budget. Finally, general financial KPIs are listed such as weighted average days paid in receivables and revenue.
This document outlines various key performance indicators (KPIs) for financial management. It provides examples of KPIs for payroll management including cycle time to process payroll and percentage of untimely payroll payments. Asset management KPIs include age of assets and total current assets. Budget KPIs focus on forecast accuracy, deviation from planned budget, and time taken to close the budget. Finally, general financial KPIs are listed such as weighted average days paid in receivables and revenue.
With the development of new information technology and in todays finance world, the information you need exists in various formats and different systems. Youre dealing with next quarters numbers, profitability analysis and the financial tasks of counting revenue, collecting on accounts receivables, and paying your vendors. Current methods can be error prone, labor intensive, and not always aligned to your corporate goals and objectives. Financial KPIs include key performance indicators as follows: I/ Payroll KPI These KPIs include ones about payroll management. Payroll KPI Payroll KPIs in key performance indicators of financial management 1. Cycle time to process payroll 2. Cycle time to resolve payroll errors 3. % of payroll disbursements that include retroactive pay adjustments 4. Average overall cost of producing a payslip per pay run. 5. % of untimely payroll payments: Number of payments that are not made or made to late to employees as % of total payments to employees. 6. Timeliness in submission of statutory returns: Instances wherein statutory returns are submitted within the prescribed time 7. Payment errors as % of total payroll disbursement 8. % of manual payroll payments 9. Instances of filing of accurate statutory returns: No of instances where statutory returns filed with the authorities are accurate 10. Systems cost of payroll process as % of total payroll cost
II/ Asset management KPI These KPIs include ones about asset management. Asset management KPI Asset management KPIs in key performance indicators of financial management 1. Age of assets: The age is calculated by dividing the cumulative depreciation by the annual depreciation charge. 2. Total Current Assets: Total Current Assets equals Cash and Equivalents + Receivables + Inventories + Other Current Assets. 3. Other Current Assets: Other Current Assets includes prepayments, deferred charges, and amounts (other than trade accounts) due from parents and subsidiaries. 4. Net Fixed Assets: Net Fixed Assets are the assets of a company that are of a relatively permanent nature and are not intended for resale, such as plans, equipments. 5. Total Assets: Total Assets are everything of value that is owned by a company. 6. Other Non-current Assets: Assets that are not assigned to Net Fixed Assets or intangibles. ______________________________________________________________________ III/ Budget KPI These KPIs include ones about budget management. Answer interview job question Job interview questions and answer Budget KPI Budget KPIs in key performance indicators of financial management. 1. Forecast accuracy of budget Actual budget (costs) relative to the established budget. 2. Deviation of planned budget The deviation of the planned budget (cost) is the difference in costs between the planned baseline against the actual budget. 3. Actual vs. budgeted costs The actual costs relative to the budgeted costs of an activity. 4. Time by which Budget closed before the year end The earlier it is closed & made available, the more time you get to discuss it out in detail & work out next year strategies sufficiently in advance before the year begins. 5. Days taken to close the budget To benchmark against the previous budget as well as against the industry standard. 6. % of budget cuts achieved Percentage of budget cuts achieved (measured in money) versus budget cuts planned (measured in money). 7. Number of years with a balanced budget Number of years with a balanced budget. 8.Number of budget deviations Number of budget deviations ________________________________________________________________________ IV/ General Financial KPIs 1. Weighted Average Days Paid Weighted Average Days Paid in Receivables Management 2. Weighted Average Days Past Due Average days past due for open AP invoices weighted by open amount 3. Weighted Days Delinquent Sales Outstanding Weighted Days Delinquent Sales Outstanding in Receivables Status dashboard 4. Weighted Terms Outstanding Weighted Terms Outstanding in Receivables Status dashboard 5. Receipts Amount Receipts Amount in Receivables Management 6. Revenue (P&L) Revenue KPI in Profit and Loss Analysis Dashboard 7. T&E per Head Travel and entertainment expenses / Headcount 8. Total Receipts Total Receipts (Rolling 30 Days) in Receivables Status dashboard 9. Unapplied Receipts Unapplied Receipts Amount 10. Weighted Average Days Due Sum of days until due weighted by invoice amount for open AP invoices