Which of the following are typically used to document sources for a business report?

Solve a problem and present research findings

Make sure your report contains all the right elements. Every report should have the following sections:

Title page

Table of contents

This is optional depending on the length of the report—a 2 to 3 page report probably wouldn't have a table of contents but a 10 to 20 page report would.

Executive summary

An executive summary is a brief overview of a report that is designed to give the reader a quick preview of the report's contents. Its purpose is to present the key points of a report in one place. After reading the summary, your audience will understand the main points you are making and your evidence for those points without needing to read your full report. Remember that the purpose of an executive summary is to provide an overview or preview to an audience who may not have time to read the whole report carefully.

• An executive summary explains why you wrote the report, emphasises your conclusions or recommendations and includes only the essential or most significant information to support those conclusions
• Executive summaries are usually organised according to the sequence of information presented in the full report, so follow the order of your full report as you discuss the reasons for your conclusions
• Executive summaries are usually proportional in length to the larger work they summarize, typically 10 to 15 percent. Most executive summaries are 1 to 2 paragraphs
• Write the executive summary after you have completed the report and have decided on your recommendations. Review your report and identify the key points and use these to organise a draft of your summary
• Make the summary concise, but be sure to show how you arrived at your conclusions
• Don't introduce any new information that is not in your report
• Executive summaries should communicate independently from your report

Introduction

The introduction should:

• briefly describe the context and background to the research
• describe the change, problem or issue to be reported on
• define the specific objectives and purpose of the report
• indicate the overall answer to the problem explored in the report
•  outline the report's scope (the extent of the investigation, also known as its terms of reference or brief)
• preview the report structure
• comment on the limitations of the report and any assumptions that are made.

Discussion

This is the main body of the report and it has two key purposes:

1. to explain the conclusions
2. to justify the recommendations

Key points to remember when you are writing the discussion include the following:

• Present the analysis in a logical and systematic way
• If necessary, divide the material with appropriate headings to improve the readers' understanding
• Back up your claims with evidence—explain your findings
• Link theory to practical issues
• Persuade readers of the validity of your stance

Conclusion

The conclusion should:

• be arranged so that the major conclusions come first
• identify the major issues relating to the case and give your interpretation of them
• relate specifically to the objectives of the report as set out in the introduction
• be a list of numbered points
• follow logically from the facts in the discussion
• be clean-cut and specific
• be brief

Recommendations

Your recommendations point to the future and should be:

• action-oriented
• feasible
• logically related to the discussion and conclusion
• numbered
• arranged in order of importance
• brief

References

See the Library's website for information on citation and how to compile a reference list.

Appendices

Include in the appendices any essential extra material, such as tables and graphs that support your research but don't relate directly to the discussion of your findings.

Remember...

The first thing you need to do is identify your audience and what they need to know. Then think through what the report is about—what information needs to be in it, what information is best left out?

Also, remember that the key difference between an essay and a report is that an essay focuses on developing an argument or point of view, while a report centres on solving a problem and presenting research findings. You can also use headings (this is something you wouldn't do in an essay) to identify sections of the report (i.e., Discussion, Conclusion, etc.).

Get more advice and tips on how to write a great essay or report.

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What are Source Documents?

Source documents are the physical basis upon which business transactions are recorded. Source documents are typically retained for use as evidence when auditors later review a company's financial statements, and need to verify that transactions have, in fact, occurred. They usually contain a description of a business transaction, the date of the transaction, a specific amount of money, and an authorizing signature. Many source documents are also stamped to indicate an approval, or on which to write down the current date or the accounts to be used to record the underlying transaction. 

A source document does not have to be a paper document. It can also be electronic, such as an electronic record of the hours worked by an employee, as entered into a company's timekeeping system through a smartphone.

Examples of Source Documents

Examples of source documents, and their related business transactions that appear in the financial records, are noted below.

Bank Statement

A bank statement contains a number of adjustments to a company's book balance of cash on hand that the company should reference to bring its records into alignment with those of the bank.

Cash Register Tape

A cash register tape can be used as evidence of cash sales, which supports the recordation of a sale transaction.

Credit Card Receipt

A credit card receipt can be used as evidence for a disbursement of funds from petty cash.

Lockbox Check Images

Lockbox check images support the recordation of cash receipts from customers.

Packing Slip

A packing slip describes the items shipped to a customer, and so supports the recordation of a sale transaction.

Sales Order

A sales order, when coupled with a bill of lading and/or packing list, can be used to invoice a customer, which in turn generates a sale transaction.

Supplier Invoice

A supplier invoice is a source document that supports the issuance of a cash, check, or electronic payment to a supplier. A supplier invoice also supports the recordation of an expense, inventory item, or fixed asset.

Time Card

A time card supports the issuance of a paycheck or electronic payment to an employee. If employee hours are being billed to customers, then it also supports the creation of customer invoices.

For example, a company is in the consulting business. it accumulates hours-worked information from employee timesheets, which is then included in customer invoices that in turn result in the creation of a sale and accounts receivable transaction. Thus, in this situation, the timesheet is the source document for a sale transaction.

Controls Over Source Documents

There are a number of possible controls that can be used to reduce the risk that source documents are not properly recorded in an accounting system. One of the more common controls is to pre-number documents, so that missing documents are easier to track down. Another control is to reconcile the balances in accounts to the supporting source documents to see if either some documents have not been recorded, or if some transactions recorded in the accounts do not appear to have any supporting source documents.

How Long to Retain Source Documents

Various regulations mandate that some source documents be retained for a number of years. It may also be prudent to retain these documents irrespective of regulations, if only to provide evidence in the event of a lawsuit, or to provide better customer service. For these reasons, a company should adopt a document destruction policy that strictly controls the shredding or other form of elimination of source documents until a certain number of years have passed.

Which of the following are typically included in the front matter of a formal report?

Which of the following are often included in the appendices of a business report?

What are recommended practices for documenting your research sources?

What is the primary purpose of charts and tables in a business report?