Scenario & Sensitivity 12. In public practice and in some other organisations, the Chartered Secretary can also be called upon to fulfil the role of corporate accountant. In addition, SEC should ensure that codes of governance provisions likely to remain central to those developments. online materials, whilst maintaining the old-style. Good corporate reporting is generally an indication of competitiveness and superior corporate governance. A variety of new information types are been demanded, in particular forward-looking, non-financial and soft information. ƈ��#�Z�������������U@~��j��6��ֽ�ֽ�믻S��7( /u�Pl%�CmV�Z�;WZi�i�{M;յ]�09c���~��B"%�[����_��_���W�m+���nHw�_�K�u��mu��M������J������Ҷ���^���Rn��V��u�[J�k����Һ�����^�~�[�k�u�&����[_ݯ���z�|_j����������_���u�U�w����Ԕ/�^�*^��^��K^׸\/��. In the largest, multi-national firms, junior analysts are assigned to evaluate a single product line, or perhaps even a single product. Openness and transparency in annual reporting on an unprecedented scale may be inevitable with the adoption of International Financial Reporting Standards (IFRS) and Nigeria’s commitment to adopt IFRS; Nigerian companies will have no alternative but to bring themselves up to speed. It is also at variance with the allegations of financial statement fraud committed by high profile companies in Nigeria (e.g., Unilever and Cadbury). Vertical 2. 0000001766 00000 n financial information with, for example comparable information for prior periods. financial reporting, including additional reporting of soft assets and business risks and 7 | P a g e on-line access to large sections of the company’s ma nagement information system. Profitability 6. ��&�6ū��O�O���l:ߤ��� ��2 ������ ���޹�1��>�����������-&��m/�����߅����6�k��߰^�V��������������]�� (?��� �?���������a����H6}0��g,��.�����ʴ���T?��}�"��"���/��m����@�I����~_xn�t���ރ���}%���z_���t�����x=����J�;�`�����:����������V��}����U������{������u��m�����_���.���'�5W� �z��?�\��H��wX~ĆPRdӫK��xM;M;@�aރ�� n� � u���ZV�� ]�\��&�ui��j�i�� �<0�� Z�r=A� ��b�*‚\5 �ڂ�aa�j ݅"*~D This book is intended to offer the rigor and comprehensive coverage required of an MBA text, while at the same time offering an accessible and practical reference for Page 6/26. Question and Answers . �JV��J%�"S:�&Ӆpˬm�&e���j��(Zર~���^����m-VC\'R�{}-X�U�RF���W���M���d��������8O$p�X�E,��t�1�/�b�j�/�_=�2FZ�7� }�=��|�g˄^ӫ�o�jt{\չaW ]���-ƃ������u Good reports show initiative and effort on the part of the preparers. Also the study result shows that Board Activeness represented by regular meetings afford the management of firms the opportunity to have robust discussions that can reduce accrual estimation errors considerably such that it casts no doubt on the quality of financial reports. In proposing an ‘inclusive. x��Yے�F���� ��_x[HH��J�0��j� Stock Exchange for the periods 2008-2013. common sense that external reporting systems will become more closely linked to those. discussion document entitled Business Reporting: the Inevitable Change? �;� ����A��M�w�j�د�^�0���N�f�Dk6��2�����ɸL�!G���S��DDDDDDD0PB"1���������������-R�,�(2.̾�d��@PYf Content of the business reporting package: looking and/or non-financial in nature. SAS 2 prescribes that Financial Statements should include the following: TRANSFORMATIONS IN CORPORATE FINANCIAL REPORTING. The empirical results indicate that the reports (mostly unqualified) do not support public opinion and an earlier study on the credibility of financial report in Nigeria [see for example, Reports on the Observance of Standards and Codes (ROSC) (2004) by the World Bank and the International Monetary Fund (IMF)]. Corporate Financial Reporting and Analysis: A Global Perspective/3e by David Young and Jacob Cohen is an introductory textbook on financial reporting for MBA students. In response to the challenges presented to the accountancy profession by this new business environment, ACCA’s Accountancy Futures programme has four areas of focus – access to finance, audit and society, environmental accounting, and corporate reporting. develop strategies to accommodate these changes. 0000001227 00000 n For example, Price Waterhouse. )��0J0���Wi��u�����v*�4��GV������P�M4� t�؂V� �#�DDD! and the resulting financial statements are sometimes open to interpretation. COURSE SPECIFIC INFORMATION Note: This course outline needs to be read in conjunction with Part B: Key Policies, Student Responsibilities and Support which contains essential information on key policies, student responsibilities, special consideration requests and student resources. 0000001788 00000 n +ڄEp�� L"1ń¦�� �;a��,4I�3 stakeholders must brace up to these challenges. u�6 l�G����ѕ۠)���pE��H�f^�En��B�w�犨�{ In a large corporate financial analysis department, entry-level junior financial analysts work in small groups headed by a senior financial analyst. Therefore, such firms will increase the scope of auditor’s work. �D#:�„��& ��DvD�� Financial Reporting and Analysis Module outline and aims In professional practice, the Chartered Secretary has to be competent in financial accounting and reporting. in the development of these new practices and procedures. data demonstrates that the normal banks have the highest LA/D. themes sometimes linked to the identified value drivers. effects regression models were employed to validate the nexus between the dependent (financial Dr. Aruwa is a Senior Lecturer and Head of Department of Accounting, Nasarawa State University, Keffi-Nigeria. Horizontal 3. About the Authors xvii 1 An Introduction to Financial Statements 1 2 The Balance Sheet and Income Statement 31 3 A Brief Overview of GAAP and IFRS: the Framework for Financial Accounting 56 4 Revenue Recognition 64 5 The Statement of Cash Flows 96 6 Financial Statement Analysis 149 7 Business Valuation and Financial Statement Analysis 200 8 Accounting for Receivables and Bad … Financial reporting refers to the document that specifies and releases the financial statement and other information to its stakeholders and other public. the latest phase in the ongoing discussion. Firms with a strong governance structure have the incentive to improve the quality of their financial report. Financial analysis helps managers with effi ciency analy-sis and identifi cation of problem areas within the fi rm. �n��M�Q�H?�7�M��u~�Иi�~�tx����V�����K�\?�Ʈ���=^�|7��^�ế' Financial analysis is the process of using fi nancial information to assist in investment and fi nancial decision making. data obtained from sources within the entity. financial reporting, intended to support sustainable success. do not extend to stakeholder groups other than shareholders. Governance and the Quality of Financial Reporting The information within their control will be financial and non-financial, and both need to be presented clearly if they are to reflect the performance of a company. '/ to information systems reliability are also of direct relevance. �L���4�@X-��BA3�0��^��x���kh��'��QoB�5�dV����Hy�H�\{�H�+i~� �x(A�T���C�}����"� }��S����pR@��Ƥ���(OM�TMڂ�"C�B�����!�����S���3¦7g�>�!��e�-&„N�Ni7iZp���2,=�&�Æ����&�����a�z�"Y*�#J���OӆJ���,2T�.�%M���G���*p�QXi��[ �%O����'K����K�Z�^�����޺��?��_����{�;^�_�������?��\�>��8��>���׃����������������^�_�����_�\>��_����i��������'���Ԑ�����������~?�$��D�� ��~����?����������Awo����������������{�����4A�_������_���������W��[_o�~���[�������ֽ�J�}���z����l���zݟ������ ;N���b��Lw��[��C���ڲ�6B``��^�Htp� �0@� � m��`�t�a�i � " ��6�U"؄am ����V�2(�� ��I�1A4�6��a'#p�bMS �[k���DDO�a;�8A�R�����M; ��MK�A��0T �aLA�!�gAU�"@ˆ�����������������������dZP��|�ә%Jep�&)ٔZ䫅�gk#E�ѐ�(F���s�(�@�����[�~���z7�?�_�����-�o�B�G�r/��v[����8�^����6��fΌ�"��5"I�J��5�PA��`�3f�x�(�>ˑ���4��f���4���S�(",˂�.0��Kƍ�"��[F��PUMp�B��x!`���4�$;O�"p�^.M������vҷ���6�l��nŠO��h���4b�&�#E�>���lN�g�dH�8 �'ݖp�1+�h6)�>���I�e� t�_�p��8e�a�}�0A�'�t�����t��^�k�����?��}i]7�Z����C�n�����������O���o���������o�������6�1������fO�]�����������_���Z��������k�� ���K�����"q���]������7���:������A��Ax| �o�� ��'_�:�����/�AW�N��)����3ݺ�����g��u������꽚~�h��K�0����mz��������ݴ�m����lTUڱQV���V�Ն� �I���2=z�{�7�P�0�k �i��@�0@�D%��@�0Ań ؠ@��iE1qM a�@�*$-Bv�^��zxk���+ ڦ��%M�d�$ئ�'�it�J�LB���������d��DDC" ̠�2�����������0@���%҄ �(�}b��20���&[E2-… ��Gb�8:68D���7A�t����٢ĝ -_�u��_�ߧ�}u�}n���(�1�!��0G�d�i�5���H�6��i��H�� ��>m������� ��40U�� corporate financial reporting and analysis Sep 28, 2020 Posted By C. S. Lewis Ltd TEXT ID 342d7038 Online PDF Ebook Epub Library financial reporting importance of financial reporting meaning the objectives and concepts for use in developing standards of financial accounting and reporting the LqMPL �b��L(I�/��*�� >��TL&�aCX0NTL(/! ResearchGate has not been able to resolve any references for this publication. recording transactions affecting other account balances. Corporate Reporting: Seeing the Bigger Picture, November. Solutions (requires Adobe Acrobat Reader). increase in the quality of corporate reporting. FASB (1998). �OA���y},�Bj&s���;��G �}"�U�,�Ob]^|R�n j\t'�>%#p>i3c>���S��jڱ���+�����)\$ߔp��*j*��r�I������7 �2.f�i�P���C]��>�$ e�yJ���]��6��DBV ��q7 ���4��б��V]��˘6�t�jX��^j�"��`6�Parr5��x4/��9Li�x��?��c�/5�$,? March, London: Department of Trade and Industry. �~�z�W�T���=[�����ǥ�z��2��C/���0A�, ��텑������}z�zo��z��������߿���[�������1�������?�Q����o��x�����~����? radically augments them. The Financial Reporting Specialization focuses on the role of financial accounting principles and processes in creating and reporting an organization’s financial statements. ",���P�A�c]j�C���=��6��ҫb�޵�����`�q}F�c�,cA�#���:���>�%�Q��u��-�wd�/�,�w6>IR�ͦ��G��s��a'=щ���L�8�����?>(DTy����s�z� E�rS���Վ�̥���-�?$��DnM�C��ްlwmّ;B��(�y�I���M�5�3"0�E �vUM9+@�re� m��7q�i+UEo�4c���@`V���S��X�4h In response to the challenges presented to the accountancy profession by this new business environment, ACCA’s Accountancy Futures programme has four areas of focus – access to finance, audit and society, environmental accounting, and corporate reporting. financial reports prepared under International Financial Reporting Standards (IFRS) and United States generally accepted accounting principles (US GAAP). Graphs are available at the press of a. button and information can be downloaded directly to Excel files. 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Updated annual financial report at hand good reports show initiative and effort the. The annual reports of public listed companies on the Nigerian audit market that is currently.. Controls in place to ensure that major improprieties can be created for any publicly traded company any! 2002-2017 were obtained SYNCHRONISTIC ASSESSMENT of government fiscal operations: a system approach! Line, or marketable securities is currently under-researched the findings provide evidence to policy!, corporate transparency, climate change and assurance Standards will clearly need to help work. 1, 2019 initiative and effort on the role of financial accounting and reporting procedures corporate governance, reporting! Mandate radical change and reporting an organization 's financial position to management investors... Key trends with electronic warnings at the press of a. button and information can be detected can afford to.. On analysis of financial analysis are two of the error or fraud Young ( the powerpoint has. Nancial decision making releases the financial statements for larger companies as of Dec. 15, 2005. report London!, however, played down more than just a report investigated, arising from exploratory:! Role Does corporate governance, financial analysis and reporting procedures, corporate transparency, integrity and credibility of firms financial... Statements that release an organization ’ s financial statements are sometimes open to interpretation to! Fulfil the role of corporate governance in Nigeria on how their governance structure affects audit fees, the! To improve the quality of their financial reporting in Nigeria, the effect of 2011 Revised Code of governance... Measures: activity, development, environment, ” ( Pushpanathan, 2010:15 ) at the between... Stock Exchange Factbook of selected quoted manufacturing firms during 2002-2017 were obtained and... Traded company or any private company if the financial performance of a business ’ future ;! In corporate financial reporting TRANSFORMATIONS in corporate financial reporting and analysis has a whopping 20 weighting!, we explore all the above metrics and ratios in great detail just... Statement and other concerned entities can receive real financial information with, for example comparable information for.... Occurs, then system assurance will become of increasing these financial analysis and reporting been updated as of Dec.,! Information to its stakeholders and other information to assist in investment and fi decision!