5 customisable OKR examples for Financial Statements

What are Financial Statements OKRs?

The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.

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 Statements 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 Statements 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 Statements OKRs examples

You will find in the next section many different Financial Statements 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 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

2OKRs 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

3OKRs 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

4OKRs 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

5OKRs 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

Financial Statements 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 Statements OKRs in a strategy map

Quarterly OKRs should have weekly updates to get all the benefits from the 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

Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.

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 Statements 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

You can use Tability to create OKRs with AI – and keep yourself accountable 👀

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