Keep your readers focused. Keep you (the writer) focused. A one page report should include standard elements that facilitate good communication and clarity. With structure and simple diagrams, it is easy to get to the point.
When a report goes longer than one page a few things happen. Someone has to open it to read it. The top page is the only page visible. People have to decide whether to read it or not. Those who choose to read it may not read it all. Those who have read it may then disagree on the content of the report. A multiple page report divides, it doesn't unify.