By John Stittle
All businesses and in addition many different agencies are legally required to supply an annual document. through the years the aim, nature and content material of annual reviews have dramatically replaced. expanding numbers of businesses are understanding that the once a year record is not only fascinated with generating felony and accounting details. extra considerably, businesses can use their annual report back to speak company messages and to advertise influential photographs and issues to quite a lot of top stakeholders resembling shareholders, staff, bankers, buyers and most people. yet how is that this to be performed successfully? This booklet concentrates on making sure that the ''corporate message'' is communicated to stakeholders in a fashion that maximizes the worth of the yearly document and descriptions how this could most sensible be accomplished. It explains the significance not just of the quantitative (accounting) info but additionally the qualitative content material comparable to the chairman's assertion, administrators' record, working and monetary overview, explanatory notes etc. specific reputation is given to the felony, inventory alternate accounting specifications in addition to to the more and more very important yet extra discretionary parts of content material reminiscent of social, environmental and moral reporting concerns. Crucially, the publication discusses the significance of digital conversation now that laws permits businesses to bring details over the web. On a pragmatic point, the ebook takes the reader in the course of the tactics and strategies in really handling the practise and creation of the record. either the sensible and theoretical facets of the e-book are positioned in context by way of proper extracts taken from ''real-life'' annual stories of significant agencies. through the use of those genuine examples the publication highlights what works and what does not.
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Extra resources for Annual Reports: Delivering Your Corporate Message to Stakeholders
This 1981 Act was updated and revised in the 1985 Companies Act (with amendments in the 1989 Companies Act). 226 of the 1985 Companies Act, the directors of every limited company in the UK must prepare annual financial statements. These accounts will predominantly consist of a profit and loss account, a balance sheet and supporting information in the notes. In addition to these specific accounting statements, companies must legally keep other accounting records which must show, inter alia, any sums of money paid and received, stock records and statements identifying all debtors and creditors.
However, the stock exchange must be informed of a listed company’s annual results as soon as possible after the results have received board approval. The actual timing of notification is not prescribed, but the Accounting Standards Board encourages companies to inform the stock exchange of their preliminary announcements within 60 days. The content of preliminary announcements As a minimum, the preliminary announcement should include a summarized profit and loss account and other supporting information that is necessary for understanding the accounts being issued.
1 at the end of this chapter. Although there are a number of similarities between the two formats, there are also some differences that can be used to advantage. Format 1 analyses some of the accounting information by function (for example, administrative expenses and distribution costs). In Format 1, companies have to show their gross profit margins, but in Format 2, the gross profit does not legally have to be disclosed. Instead, additional information has to be given concerning changes in stocks of finished goods, work in progress and in own-work capitalized.
Annual Reports: Delivering Your Corporate Message to Stakeholders by John Stittle