By John Stittle
All businesses and in addition many different agencies are legally required to supply an annual file. through the years the aim, nature and content material of annual studies have dramatically replaced. expanding numbers of businesses are understanding that the once a year record isn't just all for generating criminal and accounting details. extra considerably, businesses can use their annual report back to speak company messages and to advertise influential photos and subject matters to quite a lot of top stakeholders reminiscent of shareholders, staff, bankers, clients and most people. yet how is that this to be performed successfully? This e-book concentrates on making sure that the ''corporate message'' is communicated to stakeholders in a fashion that maximizes the price of the once a year record and descriptions how this could most sensible be completed. It explains the significance not just of the quantitative (accounting) details but additionally the qualitative content material similar to the chairman's assertion, administrators' document, working and monetary overview, explanatory notes and so forth. specific popularity is given to the criminal, inventory alternate accounting requisites in addition to to the more and more vital yet extra discretionary components of content material similar to social, environmental and moral reporting concerns. Crucially, the publication discusses the significance of digital communique now that laws permits businesses to convey details over the web. On a pragmatic point, the booklet takes the reader in the course of the tactics and approaches in really dealing with the training and creation of the record. either the sensible and theoretical elements of the e-book are put in context via proper extracts taken from ''real-life'' annual experiences of significant organizations. through the use of those actual examples the publication highlights what works and what does not.
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About the Author
David Spiceland is professor of accounting on the collage of Memphis, the place he teaches intermediate accounting and different monetary accounting classes on the undergraduate and master's degrees. He obtained his BS measure in finance from the college of Tennessee, his MBA from Southern Illinois college, and his PhD in accounting from the college of Arkansas.
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Extra resources for Annual Reports: Delivering Your Corporate Message to Stakeholders
Additional disclosures In addition to the items shown in Formats 1 and 2 there are three items that must always be shown on the face of the profit and loss account. These are: ● profit on ordinary activities before tax ● dividends paid and proposed ● transfer to or from reserves. content of financial statements 37 Future developments The government’s 2002 White Paper, Modernising Company Law, is considering reforming the layout of the profit and loss account. In future, it is possible that the profit and loss account will form part of a wider performance statement – perhaps by combining part of the Statement of Total Recognized Gains and Losses with the existing profit and loss account.
Common standards will help companies raise funds on European capital markets and also assist in comparing the financial results of companies in different countries. Adoption of the new international standards would mean the creation of a new European accounting regulatory organisation. Initial indications are that the EU will create an Accounting Regulatory Committee, chaired by EU representatives, which will decide which IASs the EU will accept as being applicable to European listed companies.
Annual reports are much more than the mere fulfilment of legal, accounting and other regulatory requirements. Any company which believes that this is their sole purpose is missing an enormous opportunity to provide additional information to help the company to deliver its message. Reactions to annual reports A study of 66 of the UK’s financial analysts, undertaken by City analysts Corporate Edge, made an assessment of annual reports and identified what they considered to be their key weaknesses.
Annual Reports: Delivering Your Corporate Message to Stakeholders by John Stittle