BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -An informal report is presented as in the form of letter or memorandum. Generally, it takes the form of a person to person communication. The formal reports are classified into two types. They are statutory report and non-statutory report.

Detailed explanation-2: -Statutory reporting can be defined as: “The mandatory submission of financial and non-financial information to a government agency.” Additionally, each industry has its own set of laws, regulations and regulatory bodies that mandate reports.

Detailed explanation-3: -Informal reporting is a type of business reporting where the information presented doesn’t need to be formatted or structured in any specific way. These reports include critical but brief information. They are typically much shorter than formal reports and have lesser sections.

Detailed explanation-4: -Memos, emails, and papers are all examples of informal reports.

Detailed explanation-5: -Reports are categorised according to their purpose and readership. The most simple division is ‘informal’ and ‘formal’. The essential difference between the two types is that the formal or complex reports require some kind of investigation and research, where as the informal one does not.