By John Stittle
All businesses and in addition many different agencies are legally required to supply an annual file. through the years the aim, nature and content material of annual studies have dramatically replaced. expanding numbers of businesses are understanding that the once a year record isn't just taken with generating felony and accounting info. extra considerably, businesses can use their annual report back to speak company messages and to advertise influential photos and issues to quite a lot of top stakeholders corresponding to shareholders, staff, bankers, buyers and most of the people. yet how is that this to be performed successfully? This publication concentrates on making sure that the ''corporate message'' is communicated to stakeholders in a manner that maximizes the worth of the once a year document and descriptions how this would top be accomplished. It explains the significance not just of the quantitative (accounting) info but additionally the qualitative content material reminiscent of the chairman's assertion, administrators' document, working and monetary evaluate, explanatory notes etc. specific popularity is given to the criminal, inventory alternate accounting specifications in addition to to the more and more very important yet extra discretionary components of content material similar to social, environmental and moral reporting matters. Crucially, the e-book discusses the significance of digital communique now that laws permits businesses to carry details over the net. On a pragmatic point, the publication takes the reader during the methods and procedures in really handling the instruction and construction of the file. either the sensible and theoretical features of the publication are put in context by means of proper extracts taken from ''real-life'' annual reviews of significant organizations. by utilizing those genuine examples the e-book highlights what works and what does not.
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Additional resources for Annual Reports: Delivering Your Corporate Message to Stakeholders
However there are only a limited number of UK companies – usually large conglomerates – in this position. However, should your company be listed, for example, on the New York Stock Exchange, you will be required to prepare a reconciliation statement which reconciles the financial statements prepared under the UK’s generally accepted accounting principles (GAAP) with US accounting practice. There are some considerable differences in accounting policies, principles and practices between the UK and the US.
It is important to realize that the above information is the statutory minimum level of information that must be provided. Companies can voluntarily provide additional information if they consider it necessary. Cash flow statements Companies are also required to produce a cash flow statement (CFS). The CFS is not a legal requirement, but it is required for all companies except those classified as ‘small’ under the legislation by the professional accounting standard FRS1, Cash Flow Statements. This standard requires companies to draft a statement that identifies all the cash movements into and out of the company.
The balance sheet The balance sheet should be designed so that it clearly lists your company’s assets and liabilities at your financial year-end. As with the profit and loss account, do not restrict the layout of the balance sheet to a small space – it is regarded by many people as too important. Make sure that you clearly show the split of assets into two categories: fixed and current. The traditional importance attributed to fixed assets, which are used in the business to generate future profits, should not be underestimated.