1. Report gives consolidated & updated information
A report provides consolidated, factual and an up-to-date information about a particular matter or subject. Information in the report is well organized and can be used for future planning and decision making.
2. Report as a means of internal communication
A report acts as an effective means of communication within the organization. It provides feedback to employees. It is prepared for the information and guidance of others connected with the matter / problem.
3. Report facilitates decision making and planning
Report provide reliable data which can be used in the planning and decision making process. It acts as a treasure house of reliable information for long term planning and decision making.
4. Report discloses unknown information
Reports provide information, which may not be known previously. The committee members collect data, draw conclusions and provide information which will be new to all concerned parties. Even new business opportunities are visible through unknown information available in the reports.
5. Report gives Information to employees
Reports are available to managers and departments for internal use. They are widely used by the departments for guidance. Report provide a feedback to employees and are useful for their self-improvement.
6. Report gives reliable permanent information
The information provided by a report is a permanent addition to the information available to the office. We have census reports (prepared since last 100 years) which are used even today for reference purpose.
7. Report facilitates framing of personnel policies
Certain reports relating to employees are useful while preparing personnel policies such as promotion policy, training policy and welfare facilities to employees.
8. Report gives information to shareholders
Some company reports are prepared every year for the benefit of shareholders. Annual report for example, is prepared and sent to all shareholders before the AGM. It gives information about the progress of the company.
9. Report gives information to the Registrar
Annual report and annual accounts are sent to the Registrar every year for information. Such reports enable the government to keep supervision on the companies.
10. Report solves current problems
Reports are useful to managers while dealing with current problems faced by the company. They provide guidance while dealing with complicated problems.
11. Report helps directors to take prompt decisions
Company reports relate to internal working of the company and are extremely useful to directors in decision making and policy framing. Reports give reliable, updated and useful information in a compact form.