StudentShare solutions
Triangle menu

Advanced financial reporting - Essay Example

Not dowloaded yet

Extract of sample
Advanced financial reporting

Also, it includes comprehensive description of disclosures that ought to be given in an annual report that gives a transparent, true and fair picture of company’s performance to existing and potential investors. After this follows second question which focuses on comparison between voluntary and mandatory guidelines in respect of environmental reporting. It requires detailed discussion about effectiveness of both guidelines and what advantages and disadvantages does their compliance offer for a company. The last question inquires about the current and proposed programmes to be effective in future relating to environmental compliances and regulations and how they might be helpful in ensuring better transparency and clarity of environmental reporting. Further the discussion entails about corporate measures that organizations should use to become alert and informed about regulations which are applicable in their case, about amendments therein and strategies to comply with them adequately. Finally, the paper closes with concluding statements about how companies should be more environmentally responsible in its operations and true in provision of its facts and disclosures in annual reports for its shareholders and potential investors. ...
Therefore, they take reasonable steps to mitigate harmful and adverse effects to acceptable levels. Some examples of environmental footprints include water spills, contamination, poisonous wastages and leakages, air pollution, carbon emission, greenhouse gas emission etc. Regulatory bodies and environmental authorities have been working constantly to make environmental laws and regulations stricter to protect public interests and give better picture to investors. Few mandatory guidelines have already been placed that are compulsory to be followed while other voluntary guidelines have been published for different industries to identify best benchmark practices which might be followed by entities on own motion to depict ‘greener’ reputation and public image to satisfy its members and potential investors. However, in order to ensure compliance with environmental frameworks, it is pivotal to be fully aware of all applicable regulations. Environmental risks can be mitigated through establishment of Environmental Management System and allotment of a dedicated team responsible for addressing all environmental concerns. Furthermore, organizations must account for relevant environmental costs and provisions for future obligations such as dismantling, cleanup and litigation costs in its financial statements. Environmental reporting disclosures can be as comprehensive as an entity would consider adequate since only few mandatory regulations exist. Therefore, environment-friendly stance of any organization shall depend on how detailed are the disclosures provided by it in its annual report and accounts. Question 1 In view of the contents of the document provided and the materials covered in the module, does the annual report currently ...Show more

Summary

The paper comprises 3 questions, each related to aspects pertaining to environmental reporting. It begins with an initial introduction about the aspects of environmental compliance and reporting…
Author : cathrine17
Advanced financial reporting essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Advanced financial reporting"
with a personal 20% discount.
Grab the best paper

Related Essays

Advanced Financial Reporting - Prevalence of Creative Accounting
Creative accounting is an innovative yet unethical practice that converts the sense of an accounting treatment while being within the scope of treatment prescribed by accounting standards. It can be said that taking advantages of the loopholes present in accounting standards is the other way of explaining creative accounting.
11 pages (2750 words) Essay
Advanced Financial Reporting and Theory
Critically assess how the use of IFRSs contributes to increased transparency for stakeholders, and the extent to which IFRSs can influence economic stability. You should develop your arguments in the context of appropriate accounting theory. The international business scenarios has evolved in the last decades more than it had for many previous years.
7 pages (1750 words) Essay
Advanced Financial Reporting
Introduction In today’s world the primary objective of a firm is to survive the cut-throat competition and one way to do that is to make more profits and add value to shareholders’ wealth.The ladder of success for any firm is ‘growth’ which can be achieved either by expanding existing resources or introduction of new products and services.
8 pages (2000 words) Essay
Advanced Financial Reporting
These standard are rigid and do not vary from one business to another. Ever business is bound to follow these standards in order to maintain the usefulness of information that is displayed in financial
8 pages (2000 words) Essay
Flying through turbulence: Advanced Financial Reporting & Analysis of Financial Satements
The airline’s major source of revenue is its Passenger Traffic that accounted for nearly 87% in 2008/2009 followed by 7.5% cargo share
8 pages (2000 words) Essay
Advanced financial reporting and regulation
IAS 38 is applicable to those intangible that are not dealt in by other IAS. The examples of intangibles are brand names, franchises, computer software, licenses, and intangible under development. The intangible should have a separate identification and the entity should
8 pages (2000 words) Essay
Advanced Financial Reporting and Regulation
This has resulted to huge debates concerning the advantages and disadvantages of fair value accounting (Laux and Leuz, 2009, pp. 826—834). Fair value allows assets to be valued at amounts that can
8 pages (2000 words) Essay
Current issue in financial reporting
The primary goal of this paper is to demystify why financial reporting is a cornerstone of modern accounting and users of these reports. Furthermore, it will explore various needs of financial statements and more importantly the primary users
6 pages (1500 words) Essay
Advanced Financial Reporting & Regulation
The fair value method of accounting which was commonly used for the accounting processes of the big and small companies in the Wall Street was identified as a major triggering factor for
10 pages (2500 words) Essay
Get a custom paper written
by a pro 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)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation