Non-financial Information

CR – May 2017 – L3 – Q5 – Integrated Reporting

Identify voluntary disclosures in annual reports and discuss reasons for and limitations of such disclosures.

Question

An annual report is a comprehensive report on a company’s activities intended to give information about the company’s activities and financial performance. In addition to the audited financial statements, annual reports contain a great deal of extra information which could be financial and non-financial. The extra information provided may be required by law, hence, it is mandatory. However, many companies provide additional information not required by law, on a voluntary basis.

Required:

(a) Identify THREE of such reports that are voluntarily disclosed in annual reports of Nigerian companies. (3 Marks)

(b) Why would a company disclose information not required by law in its annual report? Propose FOUR reasons for and give any TWO limitations of such disclosures. (7 Marks)

Answer

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Tags: Annual Reports, Financial Performance, Non-financial Information, Voluntary Disclosures
Level: Level 3

Topic: Integrated Reporting

FR – Nov 2023 – L2 – Q6b – Ethical Issues in Financial Reporting

List three types of non-financial information useful to stakeholders for decision-making.

Question

Businesses are increasingly accepting that they are not only accountable to investors and lenders, but also accountable to a much wider group of people or stakeholders to which non-financial information is useful in understanding and taking informed decisions on financial statements of the entities.

Required:
State THREE of such useful non-financial information. (3 Marks)

Answer

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Tags: Decision Making, Financial Statements, Non-financial Information, Stakeholder Accountability
Level: Level 2

Topic: Ethical Issues in Financial Reporting

CR – May 2016 – L3 – Q3a – Beyond financial reporting

Discuss principles and key components of the IIRC's Framework for integrated reporting, and concerns about its suitability for assessing entity prospects.

Question

At a recently concluded Annual General Meeting (AGM) of a company, one of the shareholders remarked; “historical financial statements are essential in corporate reporting, particularly for compliance purposes, but it can be argued that they do not provide meaningful information. After having issued a series of environmental and then sustainability reports, it is apparent that although the numbers were allowing a true and fair review of the company’s performance, operations and management they were not necessarily relevant to stakeholders. The International Integrated Reporting Council (IIRC) is calling for a shift in thinking more to the long term, to think beyond what can be measured in quantitative terms and to think about how the entity creates value for its owners” the statement concluded.

Required: Discuss the principles and key components of the IIRC’s Framework, and any concerns which could impede the Framework’s suitability for assessing the prospects of an entity.

Answer

Find Related Questions by Tags, levels, etc.

Tags: IIRC Framework, Integrated Reporting, Non-financial Information, Stakeholders, Value Creation
Level: Level 3

Topic: Beyond financial reporting
Series: MAY 2016

CR – May 2017 – L3 – Q5 – Integrated Reporting

Identify voluntary disclosures in annual reports and discuss reasons for and limitations of such disclosures.

Question

Required:

(a) Identify THREE of such reports that are voluntarily disclosed in annual reports of Nigerian companies. (3 Marks)

(b) Why would a company disclose information not required by law in its annual report? Propose FOUR reasons for and give any TWO limitations of such disclosures. (7 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual Reports, Financial Performance, Non-financial Information, Voluntary Disclosures
Level: Level 3

Topic: Integrated Reporting

FR – Nov 2023 – L2 – Q6b – Ethical Issues in Financial Reporting

List three types of non-financial information useful to stakeholders for decision-making.

Question

Required:
State THREE of such useful non-financial information. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Decision Making, Financial Statements, Non-financial Information, Stakeholder Accountability
Level: Level 2

Topic: Ethical Issues in Financial Reporting

CR – May 2016 – L3 – Q3a – Beyond financial reporting

Discuss principles and key components of the IIRC's Framework for integrated reporting, and concerns about its suitability for assessing entity prospects.

Question

Required: Discuss the principles and key components of the IIRC’s Framework, and any concerns which could impede the Framework’s suitability for assessing the prospects of an entity.

Answer

Find Related Questions by Tags, levels, etc.

Tags: IIRC Framework, Integrated Reporting, Non-financial Information, Stakeholders, Value Creation
Level: Level 3

Topic: Beyond financial reporting
Series: MAY 2016

Question Tag: Non-financial Information

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CR – May 2017 – L3 – Q5 – Integrated Reporting

Identify voluntary disclosures in annual reports and discuss reasons for and limitations of such disclosures.

FR – Nov 2023 – L2 – Q6b – Ethical Issues in Financial Reporting

List three types of non-financial information useful to stakeholders for decision-making.

CR – May 2016 – L3 – Q3a – Beyond financial reporting

Discuss principles and key components of the IIRC's Framework for integrated reporting, and concerns about its suitability for assessing entity prospects.

CR – May 2017 – L3 – Q5 – Integrated Reporting

Identify voluntary disclosures in annual reports and discuss reasons for and limitations of such disclosures.

FR – Nov 2023 – L2 – Q6b – Ethical Issues in Financial Reporting

List three types of non-financial information useful to stakeholders for decision-making.

CR – May 2016 – L3 – Q3a – Beyond financial reporting

Discuss principles and key components of the IIRC's Framework for integrated reporting, and concerns about its suitability for assessing entity prospects.

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Question Tag: Non-financial Information

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CR – May 2017 – L3 – Q5 – Integrated Reporting

Identify voluntary disclosures in annual reports and discuss reasons for and limitations of such disclosures.

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FR – Nov 2023 – L2 – Q6b – Ethical Issues in Financial Reporting

List three types of non-financial information useful to stakeholders for decision-making.

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CR – May 2016 – L3 – Q3a – Beyond financial reporting

Discuss principles and key components of the IIRC's Framework for integrated reporting, and concerns about its suitability for assessing entity prospects.

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CR – May 2017 – L3 – Q5 – Integrated Reporting

Identify voluntary disclosures in annual reports and discuss reasons for and limitations of such disclosures.

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FR – Nov 2023 – L2 – Q6b – Ethical Issues in Financial Reporting

List three types of non-financial information useful to stakeholders for decision-making.

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CR – May 2016 – L3 – Q3a – Beyond financial reporting

Discuss principles and key components of the IIRC's Framework for integrated reporting, and concerns about its suitability for assessing entity prospects.

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