CORPORATE REPORTING

Corporate Reporting

Corporate Reporting

Introduction

The following briefing will address the problems Parliament's Business Development Committee on the development of the country's modern business and commercial sector. This briefing will address the issues of corporate reporting and the initial development of regulation for corporate reporting in the country. It will also include examples from international practices that can be used in a country like Breakavia. The development of corporate reporting in the country to support and encourage the successful growth of its business and commercial sector will be addressed in the briefing. The briefing will essentially answer two questions, who is best placed to support the initial development of regulation for corporate reporting in our country, and corporate governance, its importance and how might adopting this approach be beneficial to the users of corporate reports. The briefing will address the above mentioned questions, and will provide ways in which the corporate reporting in the country can be improved, and how can corporate governance be beneficial to the country.

Discussion

Corporate Reporting

Corporate reporting is one of the major activities that the companies in a country need to do. It is a set of reports that provide a true and complete picture of the economic potential, and trends in corporate environmental market environment.

Basis of preparation of corporate accounting indissolubly linked to the mission, strategy and goals of the corporation. Basic elements of corporate development, including marketing, product, product line, social, industrial, investment, financial, are disclosed in a separate section of the explanatory note to corporate reporting (Higson, pp. 235, 2003). Data are presented in the form of predefined reports and statements as required by the recipient of the report. One of numerous examples would be the

presentation at the monthly meeting of the Board plan, and indicators of performance income statement, balance sheet or any other report required by the Board

reports and financial statements via the intranet

Shipping personalized reports and mailing lists.

Goals

The goal of corporate reporting includes generation of information on the economic potential of the corporation, development strategy and significant risks, providing a sufficient degree of attractiveness in the eyes of investors for sustainable value growth. This also helps to minimize conflicts of interest among different groups of agent. Company requires a well-functioning information. On one, hand, business managers need to know what the situation is inside the company, so that they can make rational decisions, not only at the operational level, but also strategic (Kaen, pp. 32-36, 2003). On the other hand, in the era of globalization and the functioning of a growing number of companies with international concerns, the application becomes necessary not only internal reporting standards, but also standards of reporting directly transferred from foreign owners. The company operating within the structures of the State in accordance with the applicable rules of reporting, it is also required to submit information on the results of its activities to the authorities supervising and controlling its operation. On the way to full transparency, many companies decide to make this and much more information about the ...