StudentShare solutions
Triangle menu

Integrated Reporting Framwork - Assignment Example

Nobody downloaded yet

Extract of sample
Integrated Reporting Framwork

This created the need to improve the financial reporting standards by having in place an improved conceptual framework. The main objective of financial reporting is outlined as providing information that is useful to present and potential investors and creditors in making investment and credit decisions and other users, and also in resource allocation. The previous concept that laid emphasis in providing information to management and owners and others on enterprise performance or profitability in describing how management has performed is lacking enough information. The recognition of every user of financial information is the key for the conceptual framework. IASB recognises the following users of financial information equity investors, loan creditors, suppliers, employees, customers, members’ of public, the government and government bodies. With such robust of potential users it is important to provide financial information in a clear format that benefits all. ...
Information should be relevant, have faithful representation, be comparable and finally understandable. These aspects bring in the economic sense of financial reporting. The real world economic value should be elaborated in the financial reports. This brings in the aspect of valuation and measurement aspects. It is important to understand how to express assets and liabilities in monetary terms. The historical cost that has been in use is being phased out by incorporating market value, calculated fair value, depreciated historical value, valuations by actuaries, and finally measurements modified by impairment tests. With increasing reporting aspects it becomes even harder to substantiate all the financial, nonfinancial, social, governance, and environment in reports using the previous reporting framework The US FASB is among the partners who are engaged in developing the conceptual framework defined under the grounds of a constitution, a coherent system of interrelated objectives and fundamentals that can amount to consistent standards and that prescribe the nature, functions and the extent of financial accounting and financial statements. In this context it explains the objectives of financial reporting, the quality aspects of accounting information, elements, recognition and measurement of financial statements. Role of a conceptual framework in setting out the needs of Integrated Reporting The accounting standards board has defined the statement of principle for financial reporting that addresses the concepts underlying the information presented in financial statements. The aim of this statement is to give a framework for consistency and logical formulation of individual accounting standards. The statement allows users of financial ...Show more

Summary

Integrated Reporting Framework: Name: Institution: Instructor: Subject: Date: Integrated Reporting - Is it or will it be possible to produce and use an appropriate and acceptable integrated reporting framework? Introduction The tradition method of reporting financial information categorized items in the books of accounts initially under two sections – assets- that were defined as resources or rights that were controlled by an entity and expected to yield a return in the future; and liabilities – which are obligations of an entity at the accounting date to make future transfers of assets or services to other body organisation (Ernest, 2008, 122)…
Author : aisha19
Integrated Reporting Framwork essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the assignment on your topic
"Integrated Reporting Framwork"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Financial reporting
The standard clearly clarifies when these items should and should not be made. Before the issue of this standard there was great concern in this area of accounting where companies had been accused of manipulating the financial statements and of creative accounting.
10 pages (2500 words) Assignment
Integrated Project Management Tools
A project of focus would be upgrading a bank’s existing system. The advanced system ought to have benefits such as robustness, durability and security. This is a project prone to last for duration of three months due to the phases involved. In addition to that, the project system to be implemented has to run in parallel to the current system so as to ensure a smooth transition.
3 pages (750 words) Assignment
FINANCIAL REPORTING
The study provides the details financial analysis of the company. In the case study the financial and operational evaluation of the company in questions has been undertaken. For the purpose of operational capability of the company, its corporate strategy has been analyzed in addition to the competitive environment and other risks to which it is being exposed.
14 pages (3500 words) Assignment
Financial Reporting
In common financial reporting, the assets in the current assets part of the balance sheet should be listed starting with the most liquid to the least liquid form of current assets. In this case, cash and cash equivalents are the most liquid current asset, followed by short-term investments, and assets held for sale are the least liquid current assets.
3 pages (750 words) Assignment
Integrated Services
1 pages (250 words) Assignment
Annual reporting
This increase in profits shows that the company has increased its efficiency and viability. Finally, the basic and diluted EPS have both increased from the previous years. The shareholders are currently earning more per share than they previously earned an
1 pages (250 words) Assignment
Financial reporting
It does not by any means represent the fair market value of an item (Barnes, 2000). This suggests that if a building is purchased by a company, then historical cost of the building is reported within the balance sheet, instead of recording it at its fair market
4 pages (1000 words) Assignment
Financial reporting
The phenomena of CSER is evolving on daily basis all over the globe as it clearly and logically demonstrate and evident that the overall objective, missions and strategy of
6 pages (1500 words) Assignment
Integrated Marketing communication
The owners of the organization and the managers have to make a decision on the dilemma about whether to internalize the TV show and the competition, which involves issues of funding. Marketers and employees also
2 pages (500 words) Assignment
Integrated Technology Systems
n comprehended from the evaluation that proper integration of technology system in the cultivation of mushroom facilitates in acquiring benefits of increased production which can be quantified in terms of considerable financial benefits. Mushroom as cash crop is farmed by
12 pages (3000 words) Assignment
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Click to create a comment