What are the components of a good flux explanation?

The elements of a good flux explanation are:

•       What changed
•       Why it changed
•       Quantify the elements of the change
•       Written such that a 3^rd party with accounting knowledge can understand the explanation

Fluxes are important because:

•       They help identify and account for significant and/or unusual changes from the prior period
•       They help ensure accounting and reporting data is complete and accurate
•       They assist management in monitoring and analyzing financial information, including providing insight into future budgets
•       They help detect errors and allow for corrective action to be taken, if necessary
•       They are required by our auditors