15 customisable OKR examples for Financial Statement

What are Financial Statement OKRs?

The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.

Crafting effective OKRs can be challenging, particularly for beginners. Emphasizing outcomes rather than projects should be the core of your planning.

We've tailored a list of OKRs examples for Financial Statement to help you. You can look at any of the templates below to get some inspiration for your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

Building your own Financial Statement OKRs with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.

Feel free to explore our tools:

Our customisable Financial Statement OKRs examples

You will find in the next section many different Financial Statement Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).

Hope you'll find this helpful!

1OKRs to ensure timely submission of financial statement

  • ObjectiveEnsure timely submission of financial statement
  • Key ResultImplement a system to track and manage financial records by week 2
  • TaskTrain staff on how to use the system
  • TaskChoose and purchase the most suitable system
  • TaskResearch different financial tracking systems available
  • Key ResultDedicate three days each month to consolidate financial data
  • TaskGather and organize all necessary financial data
  • TaskSelect three appropriate days for financial data consolidation
  • TaskPerform data consolidation on chosen dates
  • Key ResultTrain and enable a backup person to handle financial statement preparation
  • TaskIdentify a suitable person for financial statement preparation training
  • TaskDesign a comprehensive training schedule for the selected person
  • TaskProvide continuous guidance and support to the trainee

2OKRs to ensure timely submission of Financial Statements (FS)

  • ObjectiveEnsure timely submission of Financial Statements (FS)
  • Key ResultImplement a tracking system to monitor FS creation and submission process
  • TaskImplement the chosen tracking system
  • TaskIdentify key stages in the FS creation and submission process
  • TaskResearch potential tracking system options
  • Key ResultImprove efficiency by 25% in terms of time taken for FS preparation
  • TaskConduct FS preparation training for staff efficiency
  • TaskIncorporate technology to automate FS preparation processes
  • TaskImplement better organizational practices for FS preparation
  • Key ResultSet and adhere to pre-scheduled dates for completing sections of the FS
  • TaskSchedule specific completion dates for FS sections
  • TaskMake adjustments as necessary to meet deadlines
  • TaskRegularly review progress towards these dates

3OKRs to boost efficiency in preparing financial statements

  • ObjectiveBoost efficiency in preparing financial statements
  • Key ResultDecrease statement errors by 20% through improved training and software implementation
  • TaskRegularly evaluate and update statement production methods
  • TaskImplement in-depth training sessions on statement generation
  • TaskProcure advanced software for accurate statement production
  • Key ResultReduce financial statement preparation time by 15% from its current average
  • TaskStreamline data collection procedures for efficiency
  • TaskTrain team on efficient financial statement preparation skills
  • TaskImplement automated accounting software for faster data processing
  • Key ResultImplement a new financial statement software to automate at least 50% of tasks
  • TaskResearch and select the most suitable financial statement software
  • TaskMonitor and evaluate software's effectiveness regularly
  • TaskTrain employees on how to use this new software

4OKRs to enhance competency in preparing financial statements

  • ObjectiveEnhance competency in preparing financial statements
  • Key ResultPrepare and review three sample financial statements error-free
  • TaskPrepare three sample financial statements
  • TaskVerify and proofread statements for errors
  • TaskCollect necessary financial data and records
  • Key ResultObtain feedback from a seasoned financial analyst on the prepared statements
  • TaskShare prepared statements with chosen analyst
  • TaskRequest review and feedback on those statements
  • TaskIdentify experienced financial analyst in the field
  • Key ResultComplete a comprehensive financial statements preparation course with 90% score
  • TaskRegister for a financial statement preparation course
  • TaskAttempt examinations, aiming for a 90% score
  • TaskDiligently study course materials weekly

5OKRs to minimize inaccuracies in financial statements

  • ObjectiveMinimize inaccuracies in financial statements
  • Key ResultDecrease financial statement errors by 20%
  • TaskRegularly review and correct financial statements
  • TaskImplement rigorous bookkeeping training for accounting staff
  • TaskIncorporate robust financial auditing software
  • Key ResultTrain finance team on latest reporting guidelines within 1 month
  • TaskPlan training sessions to cover these updates
  • TaskIdentify recent changes in financial reporting guidelines
  • TaskExecute planned training for finance team
  • Key ResultImplement new audit checklist for 100% of statements
  • TaskTrain auditors to properly utilize the new checklist
  • TaskImplement checklist across all statement reviews
  • TaskDevelop comprehensive audit checklist aligned with financial statement requirements

6OKRs to achieve 100% productivity in financial statement preparation

  • ObjectiveAchieve 100% productivity in financial statement preparation
  • Key ResultIncrease financial statement preparation speed by 20% without errors
  • TaskImplement automated accounting software for faster data processing
  • TaskStreamline and simplify the financial reporting process
  • TaskConduct regular training on accurate and quick data entry
  • Key ResultImplement an effective workflow to process all financial reports within schedule
  • TaskImplement regular check-ins to monitor progress
  • TaskEstablish clear deadlines for all financial report processes
  • TaskAssign specific tasks to designated team members
  • Key ResultAttain absolute accuracy in 95% of prepared financial statements, as assessed by audits
  • TaskEstablish comprehensive training for finance team
  • TaskImplement strict quality control in financial reporting
  • TaskConduct regular internal audits for immediate correction

7OKRs to successfully finish financial statement within the required timeline

  • ObjectiveSuccessfully finish financial statement within the required timeline
  • Key ResultFinalize and review financial statement for completion by the fifth working day
  • TaskCompile all necessary financial data
  • TaskDraft the financial statement
  • TaskReview and finalize the financial statement
  • Key ResultAccumulate all necessary financial data within the first 2 working days
  • TaskGather data from online financial systems and reports
  • TaskCompile and organize all collected data
  • TaskIdentify required financial data and relevant sources
  • Key ResultDraft preliminary financial statement by the third working day
  • TaskReview and finalize the draft by the third working day
  • TaskBegin creating a draft of the financial statement
  • TaskGather all necessary financial documents and data

8OKRs to enhance review frequency for financial statements

  • ObjectiveEnhance review frequency for financial statements
  • Key ResultIncrease weekly financial statement reviews by 20%
  • TaskAllocate additional time each week for financial statement analysis
  • TaskPrioritize more complex statements for in-depth reviews
  • TaskImplement an efficient review process for quicker assessments
  • Key ResultReduce errors found in financial reviews by 15%
  • TaskRegularly update and improve financial review software
  • TaskProvide routine meticulous training for finance staff
  • TaskImplement rigorous financial data verification procedures
  • Key ResultBoost team's review capacity through training by 30%
  • TaskDevelop a comprehensive, targeted training program
  • TaskIdentify necessary skills for improvement to increase review efficiency
  • TaskMonitor and measure progress post-training

9OKRs to to Increase productivity in financial statement preparation process

  • ObjectiveTo Increase productivity in financial statement preparation process
  • Key ResultStreamline communication process to decrease feedback acquisition from 10 days to 5 days
  • TaskImplement a unified communication platform for quicker feedback receipt
  • TaskEstablish regular short stand-up meetings for rapid updates
  • TaskSet clear expectations about response times with team members
  • Key ResultReduce time taken to compile financial data by 25%
  • TaskImplement automated data compilation software
  • TaskProvide staff training on efficient data management
  • TaskRegularly review and streamline finance processes
  • Key ResultImplement a new accounting software to minimize manual errors by 50%
  • TaskConduct staff training on new software use
  • TaskIdentify and purchase appropriate accounting software
  • TaskDefine requirement specifications for new accounting software

10OKRs to achieve 90% accuracy in financial statement preparation

  • ObjectiveAchieve 90% accuracy in financial statement preparation
  • Key ResultReduce errors in trial balances by 20% to ensure accurate financial reports
  • TaskImplement double-entry bookkeeping for accurate records
  • TaskReview trial balances weekly for discrepancies
  • TaskTrain staff in reconciliation techniques annually
  • Key ResultSuccessfully incorporate feedback from 2 financial audits to improve reporting accuracy
  • TaskReview the feedback received from both financial audits
  • TaskDetermine needed changes and improvements in reporting
  • TaskImplement changes and check their effectiveness regularly
  • Key ResultComplete a specialized course on financial statements and pass with at least 85% score
  • TaskTake the final course exam, aiming for 85% or higher
  • TaskConsistently study to grasp course content thoroughly
  • TaskResearch and enroll in a reputable financial statements course

11OKRs to prepare a perfect and precise financial statement

  • ObjectivePrepare a perfect and precise financial statement
  • Key ResultImplement a double-verification system for transaction recording by the end of the quarter
  • TaskIdentify suitable double-verification technology options
  • TaskRoll out double-verification system
  • TaskDevelop implementation and training plan
  • Key ResultAchieve 100% on-time internal financial reporting with no errors for three consecutive months
  • TaskAutomate reports using reliable financial software
  • TaskTrain staff on accurate and timely data input
  • TaskImplement a rigorous financial data review process
  • Key ResultEnsure 0% discrepancies in monthly intra-department financial audits throughout the quarter
  • TaskImplement stringent checks on each financial transaction
  • TaskRegularly review internal audit processes
  • TaskProvide comprehensive training on accurate reporting

12OKRs to improve accuracy of financial statement reporting

  • ObjectiveImprove accuracy of financial statement reporting
  • Key ResultTrain staff on new financial reporting procedures to ensure 95% compliance
  • TaskDevelop a detailed training program for new financial procedures
  • TaskMonitor and evaluate staff compliance regularly
  • TaskImplement regular training sessions for all staff members
  • Key ResultImplement a comprehensive audit process to decrease reporting errors by 30%
  • TaskTrain staff on proper reporting and audit procedures
  • TaskInstall auditing software to automatically detect errors
  • TaskEstablish a defined auditing protocol involving routine checks
  • Key ResultImprove data management systems to reduce data-entry errors by 40%
  • TaskTrain staff on proper data-entry techniques
  • TaskUpgrade data-entry software for better accuracy
  • TaskImplement comprehensive data validation checks

13OKRs to boost the success rate in timely financial statement reporting

  • ObjectiveBoost the success rate in timely financial statement reporting
  • Key ResultIncrease efficiency in data compilation by 30%
  • TaskEstablish clear data standardization procedures
  • TaskImplement advanced data compilation software
  • TaskTrain staff on efficient data compilation methods
  • Key ResultImprove report review and sign-off process by 15%
  • TaskConduct regular training on efficient report-writing techniques
  • TaskEstablish clear deadlines for report review and sign-off
  • TaskImplement a streamlined software for quicker report creation and review
  • Key ResultCut down report preparation errors by 20%
  • TaskEstablish a multi-level report review process
  • TaskImplement a standardized report preparation checklist
  • TaskProvide regular training on report writing accuracy

14OKRs to ensure precision in financial statement generation

  • ObjectiveEnsure precision in financial statement generation
  • Key ResultExtend internal audit process to cover all financial transactions by 15%
  • TaskImplement extra training for thorough audits
  • TaskAdd 15% more transactions to audit checklist
  • TaskIncrease audit team size for additional oversight
  • Key ResultTrain accounting team on latest financial standards to enhance compliance by 20%
  • TaskIdentify key updates in recent financial standards
  • TaskConduct interactive training sessions for accounting team
  • TaskPrepare comprehensive training materials
  • Key ResultImplement innovative accounting software to reduce errors by 30%
  • TaskResearch and identify innovative accounting software options
  • TaskPurchase and install chosen accounting software
  • TaskTrain staff in using the new software

15OKRs to complete the Financial Statement promptly

  • ObjectiveComplete the Financial Statement promptly
  • Key ResultStreamline the auditing and approval process by 15%
  • TaskImplement automated systems to expedite the auditing process
  • TaskReduce approval stages and unnecessary checks
  • TaskTrain staff to increase proficiency in audit procedures
  • Key ResultReduce errors in financial reporting by 20%
  • TaskProvide ongoing accounting training for staff
  • TaskImplement stricter internal audit protocols
  • TaskInvest in automated financial reporting software
  • Key ResultIncrease efficiency in data collection and processing by 30%
  • TaskStreamline data validation and consolidation processes
  • TaskTrain staff on efficient data management strategies
  • TaskImplement automated systems for data collection and processing

Financial Statement OKR best practices to boost success

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the OKRs.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tability Insights DashboardTability's audit dashboard will highlight opportunities to improve OKRs

Tip #2: Commit to weekly OKR check-ins

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.

Being able to see trends for your key results will also keep yourself honest.

Tability Insights DashboardTability's check-ins will save you hours and increase transparency

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

How to turn your Financial Statement OKRs in a strategy map

Your quarterly OKRs should be tracked weekly in order to get all the benefits of the OKRs framework. Reviewing progress periodically has several advantages:

  • It brings the goals back to the top of the mind
  • It will highlight poorly set OKRs
  • It will surface execution risks
  • It improves transparency and accountability

We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.

A strategy map in TabilityTability's Strategy Map makes it easy to see all your org's OKRs

If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.

More Financial Statement OKR templates

We have more templates to help you draft your team goals and OKRs.

OKRs resources

Here are a list of resources to help you adopt the Objectives and Key Results framework.

Create more examples in our app

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