Corporate financial reporting
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Corporate financial reporting involves creating financial statements such as the income statement, balance sheet, and cash flow statement to show a company's financial position and highlight important financial data. It also explains the company's financial policies. The objectives of financial reporting are to provide useful information to management, investors, and other stakeholders for decision making by detailing a company's financial performance, position, and cash flows.
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ST10299
Roslin Lazarus
Introduction
Analysis of different regulatory framework and governance applicable GIC’s investment strategies and current market operations.
Based on the published annual report of GIC for the year 2019.
ASSUMPTION
GIC consider establishing a joint stock company as a part of its expansion plan
This presentation analysis different regulatory framework and governance applicable to GIC’s investment strategies and current market operations based on the published annual report of GIC for the year 2019, with the assumption that GIC is seriously considering establishing a joint stock company with majority controlling interest in Singapore and India as a part of its expansion plan.
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Continuation
Financial reporting is the declaration of the financial details to the divergent stakeholders concerning the financial operation and the financial position of the firm for a specified period of time.
Financial reporting standards are the keys that defines the practice standards and financial accounting policies and performs as its basis.
Enhances the financial reporting openness in an international position.
Performs as the accounting end product.
Definition
Financial reporting : declaration of the financial details to the divergent stakeholders concerning the financial operation and the financial position of the firm for a specified period of time.
Financial reporting standards: keys that defines the practice standards and financial accounting policies and performs as its basis.
Enhances the financial reporting openness in an international position.
Performs as the accounting end product.
Components of the financial reporting include;
The Financial statement
Notes to the Financial statement
The prospectus
The Management discussion and analysis
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Elements Of Financial Statement
The financial statement elements are;
Income Statement : Expenses, Revenues, Purchases and Sales
Balance Sheet: Assets , Liabilities and Capital
Cashflow statement: cashflow from operating activities, investment and financing.
Change in equity.
And notes
Financial statement comprise the critical report of the business that gives financial information which can be used by the stakeholders.
The financial statement elements are;
Income Statement covering expenses, revenues, purchases and sales
Balance Sheet covering assets , liabilities and capital
Cashflow statement covering cashflow from operating activities, investment and financing.
Change in equity showing any change in equity over the period
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Financial Reporting Objective
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- Meaning
- Objectives
- Purpose
- Advantages
- Meaning of Annual Report
- Content of Annual Report
Financial by Aditya.pptx
The document discusses several key accounting concepts:
1. It explains the purpose, importance, scope and limitations of accounting. Accounting tracks financial information to manage and invest in businesses, though it cannot measure non-monetary events.
2. It describes the need and significance of International Financial Reporting Standards (IFRS). IFRS promotes consistency, comparability, and transparency in financial reporting globally to facilitate investment.
3. It outlines Generally Accepted Accounting Principles (GAAP), the set of standards companies use for financial reporting. GAAP ensures consistency and transparency through concepts like regularity, consistency, and materiality.
Fundamental of account
This document outlines key concepts related to financial statements and accounting principles. It discusses the purpose of financial statements being to help predict future cash flows. It identifies the typical components of a complete set of financial statements as the balance sheet, income statement, statement of changes in equity, cash flow statement, and notes. The document also summarizes accounting assumptions around the economic entity, monetary unit, going concern, and time periods, as well as principles such as historical cost, revenue recognition, matching, and full disclosure.
Financial Statements and includes key takeaways
This document provides information about financial statements, including the balance sheet, income statement, and cash flow statement. It explains that financial statements convey a company's financial performance and are used by investors, analysts, and creditors to evaluate the company's health. It also describes vertical income statements and balance sheets, noting that the vertical format is more suitable for financial analysis compared to the traditional horizontal format. Vertical financial statements can show the flow of funds over periods and fulfill the requirements of fund flow analysis.
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Demystifying Financial Reporting A Comprehensive Guide for Businesses.docx
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Financial accounting -(GAAP,IFRS,ACCOUNTING STANDARD)
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Financial Accounting Vs. Management Accounting | Academy Tax4wealth
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Trial balance in tally
The document outlines rules for a group, stating that members must arrive on time for meetings, participate in discussions, and help with tasks. It also notes that any member not following the rules may lose membership privileges.
Responsibility accounting
- Responsibility accounting is a system that assigns responsibility for controlling costs to individuals within an organization. It focuses on evaluating managers based on the costs and revenues they can control.
- Key features include identifying responsibility centers where authority is delegated, assigning controllable and uncontrollable costs and revenues to these centers, and preparing responsibility reports to provide feedback on variances from budgets.
- The goal is not to punish individuals but rather to motivate improved performance by providing information to managers on areas where they can influence outcomes.
Marketing Management
This document discusses marketing management and marketing concepts. It defines marketing management as the process of planning, pricing, promoting and distributing goods and services to satisfy customer and organizational objectives. It then outlines the five main marketing concepts: production concept, product concept, selling concept, marketing concept, and societal marketing concept. For each concept it provides a philosophy, objectives and examples. It also discusses the marketing mix, marketing system, and the 7Ps of the expanded marketing mix.
GST Model
Goods and Services Tax (GST) is an indirect tax on the sale, consumption, and manufacturing of goods and services throughout India. It aims to eliminate multiple indirect taxes and create a single, unified Indian market. Unlike other countries, Indian GST consists of three taxes - Central GST, State GST, and Integrated GST. India follows a dual GST model where both central and state governments levy GST concurrently on the same base of goods and services.
Developments in economic in india
India has emerged as the fastest growing major economy and is expected to be one of the top three economic powers over the next 10-15 years. India's GDP growth rate was estimated at 12% in 2019-2020. The government has implemented several initiatives like Make in India and Digital India to boost manufacturing and increase foreign investment. Recent government efforts aim to improve rural development, healthcare, and infrastructure to continue advancing the Indian economy.
Business environment
In July 1991, India introduced a series of economic reforms known as Liberalization, Privatization, and Globalization (LPG) to liberalize its economy and improve its balance of payments position. On July 24, 1991 the Minister of State for Industries declared the new Industrial Policy of 1991, which relaxed state controls over industry, abolished licensing for most sectors, and encouraged foreign investment. The reforms aimed to promote balanced regional growth, modernize industry, and more efficiently deploy natural resources. As a result, industrial growth increased from 1.77% in 1991-1992 to 9.2% by 2007-2008, and India's industrial structure became more balanced.
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Corporate financial reporting
- 2. Corporate financial reporting is not only to show the financial statements of corporate but it includes to highlight important financial data and to show the application of financial policy. INTRODUCTION A good financial reporting will show financial position of company. Company can save from hidden losses if its accountant highlights critical points in it. In this way it is helpful tool to investors for better decision making.
- 3. Corporate financial reporting is the system of making corporate financial reports. These financial reports are: INCOME STATEMENT BALANCESHEET CASHFLOW STATEMENT STATEMENT OF RETAINED EARNING FINANCIAL POLICIES EXPLANATION It can be shown : • At the end of the month • At the end of each quarter • At the and of year MEANING
- 4. According to . The objectives of Financial Reporting is to provide information about the financial position, performance & changes in financial position of an enterprise that is useful to a wide range of making economic decisions. The following are the objectives and purpose of financial Reporting: Providing information to the management Providing information to the investors Providing information to various stakeholders Providing information about economic resources Enhancing social welfare OBJECTIVES