Communicating financial information

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Communicating financial informationon ITEC 2011.

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Communicating financial information

  1. 1. - Umesh Menon
  2. 2.  External:  Annual Reports (Balance Sheet, Income Statement, Cash flows)  Directors’ Report  Audit Report of External Auditor  Quarterly reports  Statutory Reports (Registrar of Companies, Tax Authorities – Income Tax, VAT)
  3. 3.  Internal  Management Information System to facilitate decision making)  Costing Records for pricing  Sales and Debtors records to facilitate collection  Purchase and Creditor records to facilitate prompt payments  Salary records for salary payments and increments
  4. 4.  External:  Shareholders  Bankers  Government  Investment Analysts  Trade Unions  Suppliers  Credit Rating Agencies  Future Collaborators and Partners
  5. 5.  Internal  Board of Directors  Management Team  Functional Managers
  6. 6.  External: Annually, half-yearly and quarterly depending on the statutory requirements Internal: Everyday and at regular intervals as and when required by the user
  7. 7.  Very strong and competent Finance and Accounting team High quality and very accurate accounting system (either manual or computerized) Prompt data entry system to deliver accuracy Quick and decentralized decision making system. Could be written or oral
  8. 8.  Transparency Accuracy and Reliability Comparability (year on year basis and within the industry) Decision Supporting Abilities Adaptability to dynamic business environments
  9. 9.  Good marketing tool for products Better Goodwill and image for the company Faster and accurate decision making ability Better stock market performance Higher investor confidence Better compliances and hence lower complication with the Government Agencies.
  10. 10.  Problems !!!!!! Suggestions <><><> Questions ??????

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