Advanced financial reporting Essay Example | Topics and Well Written Essays - 3000 words

Advanced financial reporting - Essay ExampleAlso, it anyow ins comprehensive description of disclosures that ought to be given in an annual report that gives a transp arent, true and fair picture of companys performance to existing and electromotive force investors. After this follows second question which focuses on comparison between volunteer and mandatory guidelines in respect of environmental reporting. It requires detailed discussion about effectiveness of both guidelines and what advantages and disadvantages does their abidance offer for a company. The last question inquires about the current and proposed programmes to be effective in proximo relating to environmental compliances and regulations and how they might be helpful in ensuring wagerer transparency and clarity of environmental reporting. come along the discussion entails about corporate measures that organizations should use to become alert and informed about regulations which are applicable in their case, a bout amendments therein and strategies to comply with them suitablely. 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 go through 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 duration other voluntary guidelines have been published for different industries to identify best benchmark pra ctices 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 agreement 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 instrument provided and the materials covered in the module, does the annual report currently