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10 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

How to create great OKRs for any scenario in seconds

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here.

You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.

  • 1. Go to Tability's plan editor
  • 2. Click on the "Generate goals using AI" button
  • 3. Use natural language to describe your goals

Tability will then use your prompt to generate a fully editable OKR template.

How to improve existing OKRs with AI feedback

If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.

  • 1. Go to Tability's plan editor
  • 2. Add your existing OKRs (you can import them from a spreadsheet)
  • 3. Click on "Generate analysis"

AI feedback for OKRs in TabilityTability's Strategy Map makes it easy to see all your org's OKRs

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

You can then decide to accept the suggestions or dismiss them if you don't agree.

Using the free OKR generator to get a quick template

If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.

Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.

Our 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
  • KRImplement 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
  • KRDedicate 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
  • KRTrain 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
Tability

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

  • ObjectiveEnsure timely submission of Financial Statements (FS)
  • KRImplement 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
  • KRImprove 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
  • KRSet 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
  • KRDecrease 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
  • KRReduce 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
  • KRImplement 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
  • KRPrepare 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
  • KRObtain 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
  • KRComplete 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
  • KRDecrease financial statement errors by 20%
  • TaskRegularly review and correct financial statements
  • TaskImplement rigorous bookkeeping training for accounting staff
  • TaskIncorporate robust financial auditing software
  • KRTrain 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
  • KRImplement 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
  • KRIncrease 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
  • KRImplement 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
  • KRAttain 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
  • KRFinalize 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
  • KRAccumulate 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
  • KRDraft 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
  • KRIncrease 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
  • KRReduce 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
  • KRBoost 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
Tability

9OKRs to to Increase productivity in financial statement preparation process

  • ObjectiveTo Increase productivity in financial statement preparation process
  • KRStreamline 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
  • KRReduce 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
  • KRImplement 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
  • KRReduce 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
  • KRSuccessfully 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
  • KRComplete 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

Financial Statement OKR best practices

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.

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.

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 track your Financial Statement OKRs

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.