Voluntary Disclosures – NBC Institute

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

Find Related Questions by Tags, levels, etc.

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

Topic: Integrated Reporting

CR – Nov 2017 – L3 – Q7 – Regulatory Environment for Corporate Reporting

Outline the components of an annual report, with advantages and limitations of mandatory and voluntary disclosures.

Question

Corporate reporting by listed companies in Nigeria is evidenced by the annual report, defined as a comprehensive report on a company’s activities throughout the preceding year.

The directors of Mugono Plc would like to understand the content of an annual report but are unsure about the difference between mandatory and voluntary disclosures within the report.

Required:
Write a report to the directors of Mugono Plc:

Highlighting the components included in an annual report.
(4 Marks)
Showing the following:
- i. THREE advantages of mandatory disclosures in the annual report (3 Marks)
- ii. FOUR advantages of voluntary disclosures in the annual report (4 Marks)
- iii. TWO limitations of information provided on a voluntary basis (2 Marks)

(For clarity in presentation)
(2 Marks)

Total: 15 Marks

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual Report, Corporate Governance, Mandatory Disclosures, Reporting Standards, Voluntary Disclosures
Level: Level 3

Topic: Regulatory Environment for Corporate Reporting
Series: NOV 2017

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

CR – Nov 2017 – L3 – Q7 – Regulatory Environment for Corporate Reporting

Outline the components of an annual report, with advantages and limitations of mandatory and voluntary disclosures.

Question

Corporate reporting by listed companies in Nigeria is evidenced by the annual report, defined as a comprehensive report on a company’s activities throughout the preceding year.

The directors of Mugono Plc would like to understand the content of an annual report but are unsure about the difference between mandatory and voluntary disclosures within the report.

Required:
Write a report to the directors of Mugono Plc:

Highlighting the components included in an annual report.
(4 Marks)
Showing the following:
- i. THREE advantages of mandatory disclosures in the annual report (3 Marks)
- ii. FOUR advantages of voluntary disclosures in the annual report (4 Marks)
- iii. TWO limitations of information provided on a voluntary basis (2 Marks)

(For clarity in presentation)
(2 Marks)

Total: 15 Marks

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual Report, Corporate Governance, Mandatory Disclosures, Reporting Standards, Voluntary Disclosures
Level: Level 3

Topic: Regulatory Environment for Corporate Reporting
Series: NOV 2017

Question Tag: Voluntary Disclosures

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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.

CR – Nov 2017 – L3 – Q7 – Regulatory Environment for Corporate Reporting

Outline the components of an annual report, with advantages and limitations of mandatory and voluntary disclosures.

CR – May 2017 – L3 – Q5 – Integrated Reporting

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

CR – Nov 2017 – L3 – Q7 – Regulatory Environment for Corporate Reporting

Outline the components of an annual report, with advantages and limitations of mandatory and voluntary disclosures.

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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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CR – Nov 2017 – L3 – Q7 – Regulatory Environment for Corporate Reporting

Outline the components of an annual report, with advantages and limitations of mandatory and voluntary disclosures.

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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.

You're reporting an error for "CR – May 2017 – L3 – Q5 – Integrated Reporting"

CR – Nov 2017 – L3 – Q7 – Regulatory Environment for Corporate Reporting

Outline the components of an annual report, with advantages and limitations of mandatory and voluntary disclosures.

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