Formal Report Sample

Formal Report Sample

This sample is a model for your own writing. DO NOT PLAGIARIZE!

Important Notice: •

Do NOT copy this sample (or any samples you find online or in other resources) and then claim credit for doing them. To receive credit, you must do your own work for this class.

•

Additional titles and samples are added every semester. Ms Hurley will provide you with an updated list, if she has one.

Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

Op 2.9 The Formal Report - Sample 1 (Annotated)

Cover Page

A Guide to Careers in Accounting Title a little above the halfway point on the page

The report writer’s – your – name, business title, and business address

Saravati Singh Director Pricewaterhouse Coopers LLC First Hawaiian Center Suite 811 999 Bishop Street Honolulu, HI 96818 So that pages don’t flow one into the other, insert a page break between each page

Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

A Guide to Careers in Accounting

your client’s name, title and business

Prepared for: Roland Kamisato Advisor Manoa College of Business

Prepared by: Saravati Singh Director Pricewaterhouse Coopers LLC First Hawaiian Center Suite 811 999 Bishop Street Honolulu, HI 96818 December 4, 20XX

Pagination begins here with small Roman numerals for all prefatory parts

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

Letter of Authorization: from the client to you, the report writer

letterhead

Manoa College of Business___________________ 2444 Dole Street Honolulu, HI 96822 (808) 123-4567

_ www.mcb.edu

letter format: block

October 10, 20XX inside address

Saravati Singh, Director PricewaterhouseCoopersLLC First Hawaiian Center Suite 811 999 Bishop Street Honolulu, HI 96818

Dear Ms. Singh,

paragraph 1: friendly you-attitude intro says how the client heard of you (the report writer) paragraph 2: asks for the report and gives reasons for authorizing the report. Fees and deadlines are usually discussed here, too

On February 3, 20XX, your accounting firm was the featured as a booth in Hawaii’s Career Fair. I attended the occasion and was very impressed with all of the brochures and information you were offering to prospective accountants. Here at the Manoa College of Business, we are trying to expand our majors to offer to include accounting to better prepare the students for successful careers in this field. Will you prepare a report presenting essential information on your recommendations on the types of degrees we should offer in accounting? This report is needed by the first week of December. I understand your customary fee is $3,000. Please call me at 123-1234 if you have any questions or anticipate any delays in the completion of the materials. paragraph 3: end encourages the reader to respond to the request and gives a phone number (if it’s not in the letterhead)

Sincerely,

signature block with complementary close and typed name and title

Roland Kamisato Advisor

ii Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

Letter of Acceptance (from you to the client) PricewaterhouseCoopersLLC First Hawaiian Center Suite 811 999 Bishop Street Honolulu, HI 96818

letter format: full block

October 20, 20XX

Roland Kamisato, Advisor Manoa College of Business 2444 Dole Street Honolulu, HI 96822

Dear Mr. Kamisato,

paragraph 1: you-attitude opening that builds rapport with the client. Notice the letter doesn’t start with “I” or “We” (which is NOT you-attitude) paragraph 2: accepts the assignment and discusses deadlines and fees. The report is worth something to the client. You may offer a reduced price if you wish, but realize the report costs you money to prepare (staff, research time, computer inputting, plus fixed costs like office rent)

Thank you for your letter and your interest in our accounting firm. It was a pleasure being at Hawaii’s Career Fair and informing potential accountants the available careers in accounting. PricewatersCoopersLLC will be pleased to present you with information and recommendations on degrees that should be available for accounting majors. As stated, the fee for this report is $3,000. Your report will be delivered to you by the first week of December and the payment in full is due upon delivery. If you have any questions or concerns, please call me at 888-0000. Please call me before November 25, 20XX if any further information is needed to be incorporated in the report. paragraph 3: ending tells the client to call for any additions and changes. This is also a good place to seek future business

Sincerely,

Saravati Singh, Director

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

Letter of Transmittal (from you the client) PricewaterhouseCoopersLLC First Hawaiian Center Suite 811 999 Bishop Street Honolulu, HI 96818 letter format: modified block

Roland Kamisato, Advisor Manoa College of Business 2444 Dole Street Honolulu, HI 96822

Dear Mr. Kamisato,

December 4, 2001 paragraph 1: opens with the reason for sending (“As you requested…”) paragraph 2: gives the topic of the report and its scope (the parts covered) paragraph 3: discusses the sources and assures the client s/he is getting the latest info available (and, therefore, the best value for the dollar)

As you requested on October 10, 20XX, enclosed is the information and recommendations on the degrees for accounting majors. The report explains the different components of accounting -- managerial accounting, public accounting, and governmental accounting – as well as requirements, working conditions and job outlook. While I drew mainly on the expertise of my staff in the preparation of this report, we used this as an opportunity to review current employment practices in the field (a list of the best references is at the end of the report.) Therefore, you can be certain that you are getting the latest information possible. This report is as complete as possible given the time constrains for its preparation. You will find the information sufficient to meet your needs in rebuilding the accounting degrees. If you need any additional information, please call me at 888-0000. It was a pleasure preparing these materials for you, and we look forward to working with you again. paragraph 4: states (1) the report is as complete as possible for the time allowed to complete it (you have Ms. Hurley’s permission to copy that sentence in your report, if you wish) , (2) the client should call for additional info or questions. This is also a good place to seek future business (see the last sentence. Another possibility: If we may serve you again, please call us.

Sincerely,

Saravati Singh Director

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

The abstract is the next to the last thing to write. It’s a report in miniature. A busy executive should be able to read just the abstract and understand all the major points made in the report ABSTRACT

Introduction. Accounting is the principles and methods involved to identify, record, and communicate the economic events of an organization. Accountants prepare and examine the financial reports that provide current and recent information for businesses, government agencies, and other organizations. Level 1 headings

Level 2 headings are underlined

Public Accounting. In public accounting, accountants work for themselves or for an accounting firm. Public accountants perform audits by inspecting the client’s internal operations, records, documents, and company employees. A complete and precise evaluation of the client’s company financial standing is done. Helping management in decision making and preparing tax returns are additional tasks the accountants perform. Certified public accountants hold a certificate by passing an exam prepared by the American Institute of Certified Public Accountants. The salary for public accountants ranges from $38,600-62,400. Certified public accountants earn about 10 percent more than those short of a certificate.

Managerial Accounting. In managerial accounting, accountants work for a single company. Managerial accountants report the financial activities and operations internally for planning, controlling, and decision making. Preparing financial reports and performing internal audits are also completed. Managerial accountants’ salaries range from $36,000-55,000 depending on years of experience.

Governmental Accounting. In governmental accounting, accountants are employed by governmental agencies. They maintain and examine financial records of government agencies. Audits are performed on records of businesses and persons whose financial activities are subject to government regulations. The salary for governmental accountants ranges from $20,60062,500, depending on standard pay scales. paragraphs may be single spaced w/double space between paragraphs (as you see here) or double spaced

Working Conditions. Accountants generally work 35-40 hours a week. During tax season, December to May, the number of hours and workload is increased. Accounting is normally a desk job in an office setting and/or at client’s offices. Many accounting professionals have travel opportunities.

Job Outlook. The growing complex tax laws tackling the business society is creating a greater than before demand for tax accountants. Therefore, job openings for accountants will grow faster than average, although competition for jobs is keen. Certified public accountants ought to be the continuous widest range of job opportunities, also making it more difficult to become a CPA. v Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

The amount of business establishments will increase as the economy grows, needing more accountants to assist these businesses.

Conclusion. Public, managerial, and governmental accounting is three different subdivisions apart of a broad field known as accounting. Public accountants perform audits, assist in management planning, and prepare tax returns. Managerial accountants prepare reports of financial activities and business operations, aid in business decision making, and perform internal audits. Government accountants maintain and inspect financial records.

Recommendations. Rebuilding and providing specific degrees for accounting majors enhance the students’ opportunities for a secure knowledge in accounting. The Manoa College of Business should initiate programs concentrating on specific branches of accounting bachelor degrees. Employers will not have to spend time training the future employees in the different tasks that will be involved in their job description. Providing guest speakers regularly can be helpful in allowing students to recognize the importance on concentrating in one area of accounting.

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

not seen here: a Table of Figures, required for reports with 3 or more visuals TABLE OF CONTENTS

The table of contents is typed last Letter of Authorization…………………………………………………………………..ii Letter of Acceptance……………………………………………………………………..iii Letter of Transmittal……………………………………………………………………..iv Abstract…………………………………………………………………………………..v 1.0

2.0

Prefatory parts and level 1 headings are blocked at the left margin

Introduction……………………………………………………………………...1 1.1

Purpose…………………………………………………………………...1

1.2

Definition………………………………………………………………....1

1.3

Sources of Data...........................................................................................1

Public Accounting...................................................................................................2 2.1

Functions………………………………………………………………….2

2.2

Certified Public Accountants……………………………………………...3

2.3

These headings are organized numerically: 1.0, 2.0, 3.0 Income……………………………………………………………………..3 (Headings may also be in outline style (I, II, III)

3.0

4.0

Managerial Accounting……………………………………………………………3 3.1

Functions…………………………………………………………………..3

3.2

Income……………………………………………………………………..4

Governmental Accounting…………………………………………………….......4 Level 2 and 3 headings are indented

5.0

4.1

Functions…………………………………………………………………..4

4.2

Income……………………………………………………………………..4

Working Conditions……………………………………………………………….5 vii Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

5.1

Hours………………………………………………………………………5

5.2

Environment……………………………………………………………….5

5.3

Workstyle………………………………………………………………….5

5.4

Travel……………………………………………………………………...6

6.0

Job Outlook………………………………………………………………………..6

7.0

Conclusions………………………………………………………………………..7

8.0

Recommendations…………………………………………………………………7

Appendix A: Abbreviations ..……………………………………………………………..8 Appendix B: Addresses .…………………………………………………………………. 9 Works Cited .…………………………………………………………………………….10

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

Title in all caps about 1½” from the top of the page

The body begins here, with page 1

A GUIDE TO CAREERS IN ACCOUNTING Level 1 heading Level 2 heading

1.0 INTRODUCTION

lead paragraph – general statement that states the topic is important, popular or growing

Accounting is a vast field with many specialized areas. Its main purpose is to provide financial information about an economic entity or business enterprise.

1.1 Purpose

The purpose names the client’s business and lists the report’s main parts

This completed report is written for the University of Hawaii at Manoa-College of Business in restructuring their Accounting degrees available for students. It explains the different types of accounting that should have their own degrees.

1.2 Definition

The definition defines the main terms used in the report. Remember that the client is not the expert and may not know the vocab

report is double spaced with double or triple space between sections

Accounting is the process of identifying, recording, and communicating the economic events of an organization to interested users of the information. The financial information provided by an accounting system is used by managerial decision makers to help them plan and control the activities of the company. Accounting extends beyond the process of creating records and reports. Financial information is also needed by owners, creditors, potential investors, and government agencies as well as by the public, who have supplied money to the business or who have some other interest in the business that will be served by information about its financial position.

1.3 Sources of Data

The sources mentions the main references used to write the report and refers the reader to the list of sources at the end of the report

Information enclosed in this report has been prepared from two types sources: books for accountants and websites. A list of sources is at the end of the report. 1 Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

refer the reader to the visual at the exact point you want him/her to look at it

2.0 PUBLIC ACCOUNTING Approximately 25 percent of all accountants are public accountants (see figure 1 below.) In public accounting, accountants work for themselves or for an accounting firm. An easy to read, informational, professional-looking visual

Statistics 10%

4%

25%

Certified Public Accountants Public Accountants Management Accountants Government Accountants

61%

Figure 1: Percentage of Accounting Jobs in the United States, 2005 (source: VGM Handbook of Business and Management Careers, p. 43) The visual is labeled w/ a title and source

2.1 Functions

In public accounting, accountants perform audits. They inspect the client’s internal operations, records, documents, and company employees. Inspections on the procedures for bill paying, inventory, and other financial operations and create the balances of their income, debts, assets, and investments. Also, a complete and precise evaluation of their financial standing is given by the accountant. They help management in planning and protect investors and stockholders. In addition, public accountants may prepare tax returns.

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

2.2 Certified Public Accountants (CPA) Certified public accountants hold a certificate given out by the state board of accountancy. An examination prepared by the American Institute of Certified Public Accountants must be passed to obtain certification Notice the absence of the pronoun “you.” The report uses words like accountants and employees – not “you”

2.3 Income The salary for public accountants varies according to years of experience and the level the accountant is at. The salary ranges from $38, 600-$62,400. Certified public accountants earn about 10 percent more than those who are short of certification (Occupational Outlook Handbook, 36). Parenthetical citations give credit to quoted material and info that’s not common knowledge. You learned this in Eng 100

3.0 MANAGERIAL ACCOUNTING Approximately 60 percent of all accountants are managements (Norbak 12). Management accountants are employed by a single company to handle and operate the company’s financial records. a lead-in sentence introduces upcoming subparts

3.1 Functions In managerial accounting, accountants are reporting the financial activities and operations internally to managers and parties within the accounting firm. This information and reports are used for planning, controlling and decision making. Financial reports are prepared for nonmanagement groups, stockholders, creditors, regulatory agencies, and tax authorities. They analyze and translate the financial information executives need to make thorough business decisions. Internal auditing, appraisals within the organization are done by analyzing and recommending improvements to internal financial exercises, is done by management accountants. 3 Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

3.2 Income The salary for managerial accountants differs depending on years of experience. The salary ranges from $36,000-$55,000 (Salary Guide).

4.0 GOVERNMENTAL ACCOUNTING In governmental accounting, accountants are employed by governmental agencies. About 10 percent of all accountants are governmental accountants (Occupational Outlook Handbook, 97).

4.1 Functions Government accountants maintain and examine the financial records of government agencies and audit the records of businesses and persons whose financial activities are subject to government regulations.

4.2 Income The salary for governmental accountants varies according to the standard pay scales. The salary ranges from $20,600-$62,500 (Salary Guide).

5.0 Working Conditions All different aspects are taken in to consideration when choosing a career as an accountant. The number of hours that will be required to work, the environment situation, the working styles, and travel are all factors in the decision making process.

5.1 Hours Accountants generally

work 35-40 hours a week. During tax season, December to 4 Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

May, the number of hours a week is increased with the heavy workload, especially for public accountants and those accountants employed by accounting firms. Also, weekend hours and no time off are anticipated.

5.2 Environment Accounting is normally a desk job in an office setting. Surroundings may vary from employer to employer. At the entry level, sharing offices or working in general work areas is expected. Large business and public accounting firms offer the luxury of private offices. With advancement comes the greater likelihood of being comfortable. Accountants for the Department of Defense may work as civilians on military bases.

5.3 Workstyle Most accountants work at their own desks. Management and government accountants have fewer possibilities to work out of the office. Public accountants often work at clients’ offices.

5.4 Travel Many accounting professionals have travel opportunities. Not only accountants employed by large public accounting firms are given opportunities, but accountants from small public accounting firms are offered overnight travel that is required to service and visit clients. Moreover, large accounting firms may offer days or weeks away on a single project. Accountants employed by national firms may travel at length to carry out audits and complete other services for clients or employers. Management accountants almost certainly travel. Some federal

5 Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

departments entail extensive national and international travel.

6.0 Job Outlook Job openings for accountants will grow faster than average, although competition for jobs is keen. The growing complex tax laws that dictate business today create a greater than before demand for tax accountants. Certified public accountants should enjoy the continuous widest range of job opportunities; these opportunities, in turn, increase competition for CPA jobs. Accountants with master’s degrees in business administration with a focus in accounting are more and more valued, especially among large firms. Having experience with computers is advantageous for job opportunities as increasingly complex accounting functions are performed through computers. The number of business establishments increases as the economy grows, resulting in the need for needing more accountants to provide management advice, to set up books, and to prepare taxes. Recommendations are for the client who paid for the report – in this case the school administrators, not the students – and list the actions to take, based on the needs stated in the letter of authorization and the info of the report. Multiple recommendations are best presented in a bulleted or numbered list.

7.0 CONCLUSION AND RECOMMENDATIONS Public, managerial, and governmental accounting are three categories of a broad career field of accounting. Public accountants operate audits, assist in management planning, look after investors and stockholders, and prepare tax returns. Certified public accountants are authorized a certificate by passing an examination arranged by the American Institute of Certified Public Accountants. Managerial accountants prepare reports of financial activities and business operations to internal staff, aid executives in making business decisions, and perform internal audits. Government accountants sustain and inspect financial records of agencies employed by the government and perform audits of businesses and persons with prospect regulations. Providing specific degrees for accounting majors will enhance the students’ career 6 Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

opportunities. Since accounting is a broad major, the Manoa College of Business should initiate programs concentrating on specific branches of accounting bachelor degrees. This action will better prepare future accountants according to the type of job desired. Employers will not have to spend time training the future employees in the different tasks involved in job descriptions. Also, adding guest speakers to the College’s current career program regularly can be helpful in allowing students to recognize the importance on concentrating in one area of accounting. It is an excellent way in serving as a counseling tool for the students to get first-hand opinions from their possible future employers.

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

Appendix is optional (note: plural of appendix is appendices= APPENDIX A: ABBREVIATIONS

Appendices are labeled with a letter (A, B, C) and a title

AAA

American Association of Accountancy

AICPA

American Institute of Certified Public Accountants

CFA

Chartered Financial Analyst

SMA

Certified Management Accountant

CPA

Certified Public Accountant

GAO

General Accounting Office

GS

General Scheduled

HEW

Department of Health, Education, and Welfare

IFCA

Institute of Chartered financial Analysts

IRS

Internal Revenue Service

NAA

National Association of Accountants

NASBA

National Association of State Board of Accounting

The appendix contains supplementary material germane to the topic but not critical. If the material were critical, it would be part of the body. Glossaries, forms, and photographs are other items often found in appendices. The appendix is not required in option 2.9.

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

APPENDIX B: ADDRESSES

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For the latest requirements for the CPA exam, write to: National Association of State Board of Accounting 666 Fifth Avenue New York, NY 10019

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Most states have professional associations of accounting professionals, including the state of Hawaii. Visit The Hawaii Society of Certified Public Accountants at http://www.hscpa.org/

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Information about the CMA exam, including upcoming dates and locations, can be obtained from: Institute of Management Accounting 570 City center Building Ann Arbor, MI 48108

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Additional information on the CFA exam, candidate study program, and enrollment can be obtained from: The Registrar The Institute of Chartered Financial Analysts University of Virginia P.O. Box 3668 Charlottesville, VA 22903

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Recent exams and unofficial answers are available in a booklet for a nominal fee from: Special Order Department National Association of accountant 919 Third Avenue New York, NY 10022

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm

The Works Cited page is in correct MLA format

WORKS CITED Hildebrandt, George, and Martin Burt. Career Choices for the 2000’s For Students of Business. New York: Walker Publishing Company, 2002. Norback, Craig. VGM’s Handbook of Business and Management Careers. Chicago: Publishing Group, 2003. Salary Guide. 2001. Creative Financial Staffing. 23 Oct. 2002. . Salary Survey. Aug 2002. Texas A&M University Career Center. 1 Nov 2002. . United States Bureau of Labor Statistics. Occupational Outlook Handbook. Washington: U.S. Department of Labor, 2003. For electronic sources, give the exact web page you took information from, not the general homepage

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Prepared by Pat Kamalani Hurley, Professor CC Leeward CC (University of Hawai'i) http://emedia.leeward.hawaii.edu/hurley/default.htm