Board MIS Pack: P&L, Cash, Runway and KPI Validation Checklist
Board MIS should not be a pretty deck with unverified numbers. Every KPI should tie back to books, bank, CRM or payroll source.
Use the ITR Document Checklist Generator — AY 2026–27 to apply these points to your figures or facts.
Detailed analysis
Financial statements need true and fair presentation; board MIS needs decision-grade reliability. The controller should validate financial and operating KPIs before founders present them.
Practical example
Board pack shows ARR ₹12 crore, but deferred revenue schedule supports ₹10.8 crore annualised recurring revenue. Finance revises KPI definition, adds reconciliation to billing and revenue schedules, and includes variance note.
Evidence and control checklist
| Area | What to check | Evidence to save |
|---|---|---|
| Financials | P&L, balance sheet, cash flow and variance notes. | TB, MIS schedule and GL tie-out. |
| Cash/runway | Bank balance, burn and runway assumptions. | Bank statement, cash forecast and burn bridge. |
| Revenue KPIs | ARR/MRR, churn, collections and deferred revenue. | CRM/billing/revenue reconciliation. |
| Working capital | AR ageing, AP ageing and tax payables. | AR/AP schedules and statutory liabilities. |
| Decision notes | Key variances, risks and actions. | Board pack and action tracker. |
For the connected rule, example or next step, see Cash Flow Statement Preparation: AS 3 Controller Tie-Out Checklist.
Common mistakes
- Presenting KPI definitions that change monthly.
- No tie between MIS and books.
- Ignoring deferred revenue in ARR.
- Showing cash runway without payables/tax dues.
- No action tracker from prior board meeting.
Official reference framework
Based only on official India Code, MCA and ICAI source pages listed below. Check the latest Companies Act, Schedule III, accounting standards, Ind AS/AS applicability and auditor guidance before closing or filing.
Official sources used
This article is intentionally source-limited to official India Code, MCA and ICAI material. Source validation date: 17 June 2026. Verify final positions with latest Companies Act, Schedule III, accounting standards, Ind AS/AS applicability and auditor guidance before closing or filing.
- India Code: Companies Act, 2013 Section 129 - Financial statement
- India Code: Schedule III to the Companies Act, 2013
- India Code: Companies Act, 2013 Section 128 - Books of account
For the connected rule, example or next step, see Refund Delayed: Bank Validation, ITR Processing and Grievance Checklist.
FAQs
P&L, cash, runway, working capital, KPIs, variance and risks.
Yes, or definitions and reconciliations should be disclosed.
Cash available divided by net burn, subject to assumptions.
It shows cash conversion and liability risk.
Finance controller/CFO before board circulation.
Source and review trail
Use the current official instrument, portal or regulator publication before acting. This panel separates the category authority from page-specific references.
- Primary category
- Business Case Studies & Corporate Strategy
- Official starting point
- www.mca.gov.in