Financial accounting and reporting

Financial accounting and reporting

Description / objective

This function covers preparation of statutory reports and financial accounts, generation of activity-related accounts for management information purposes, and monitoring of performance against budgets set using these parameters.

ITS applications

These processes can be facilitated by data generated from ITS applications such as electronic fare collection systems and ITS-facilitated functions such as service performance analysis and vehicle consumption monitoring.

Advantages and cautions

Data generated from ITS applications and ITS-facilitated functions is likely to be both timelier and more accurate than traditional methodologies. These benefits can be added to the business case for investment in the relevant systems.