Emerging Trends in Corporate Reporting

CR – May 2023 – L3 – Q5a – Emerging Trends in Corporate Reporting

Discuss four financial reporting issues companies should consider due to COVID-19.

Question

Most regulatory authorities in Nigeria, such as the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN), and Federal Inland and State Internal Revenue Services, issued conditional relief for meeting reporting deadlines for filing annual and other returns required by law during the pandemic.

However, companies still need to monitor further reporting updates and evaluate the current and potential effects that COVID-19 could have on their financial reporting.

Required:

Discuss FOUR financial reporting issues that should be considered by companies as a consequence of COVID-19. (8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: COVID-19, Expected Credit Losses, Going Concern, Impairment, Revenue Recognition
Level: Level 3

Topic: Emerging Trends in Corporate Reporting

CR – Nov 2022 – L3 – Q5 – Emerging Trends in Corporate Reporting

Discuss the limitations of financial-only disclosures and the value of including non-financial information in annual reports.

Question

One of the major limitations of traditional financial statements is that they reflect only the effects of transactions that could be reliably measured in monetary terms. Many corporate organisations now include management discussion analysis in their published financial statements. At present, entities reporting under IFRS do not have to publish non-financial information. However, many useful non-financial information had been identified and disclosed by some organisations voluntarily.

Required:
a. Appraise the problems associated with the disclosure of only financial information in an annual report. (5 Marks)
b. Analyse major non-financial information that is considered useful for voluntary disclosure. (5 Marks)
c. Discuss the benefits associated with the disclosure of non-financial information in corporate annual reports. (5 Marks)
(Total 15 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual Report Limitations, Corporate Transparency, ESG Reporting, Non-Financial Disclosure, Stakeholder Relations
Level: Level 3

Topic: Emerging Trends in Corporate Reporting
Series: NOV 2022

CR – May 2023 – L3 – Q5a – Emerging Trends in Corporate Reporting

Discuss four financial reporting issues companies should consider due to COVID-19.

Question

However, companies still need to monitor further reporting updates and evaluate the current and potential effects that COVID-19 could have on their financial reporting.

Required:

Discuss FOUR financial reporting issues that should be considered by companies as a consequence of COVID-19. (8 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: COVID-19, Expected Credit Losses, Going Concern, Impairment, Revenue Recognition
Level: Level 3

Topic: Emerging Trends in Corporate Reporting

CR – Nov 2022 – L3 – Q5 – Emerging Trends in Corporate Reporting

Discuss the limitations of financial-only disclosures and the value of including non-financial information in annual reports.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Annual Report Limitations, Corporate Transparency, ESG Reporting, Non-Financial Disclosure, Stakeholder Relations
Level: Level 3

Topic: Emerging Trends in Corporate Reporting
Series: NOV 2022

Topic: Emerging Trends in Corporate Reporting

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CR – May 2023 – L3 – Q5a – Emerging Trends in Corporate Reporting

Discuss four financial reporting issues companies should consider due to COVID-19.

CR – Nov 2022 – L3 – Q5 – Emerging Trends in Corporate Reporting

Discuss the limitations of financial-only disclosures and the value of including non-financial information in annual reports.

CR – May 2023 – L3 – Q5a – Emerging Trends in Corporate Reporting

Discuss four financial reporting issues companies should consider due to COVID-19.

CR – Nov 2022 – L3 – Q5 – Emerging Trends in Corporate Reporting

Discuss the limitations of financial-only disclosures and the value of including non-financial information in annual reports.

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Topic: Emerging Trends in Corporate Reporting

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CR – May 2023 – L3 – Q5a – Emerging Trends in Corporate Reporting

Discuss four financial reporting issues companies should consider due to COVID-19.

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CR – Nov 2022 – L3 – Q5 – Emerging Trends in Corporate Reporting

Discuss the limitations of financial-only disclosures and the value of including non-financial information in annual reports.

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CR – May 2023 – L3 – Q5a – Emerging Trends in Corporate Reporting

Discuss four financial reporting issues companies should consider due to COVID-19.

You're reporting an error for "CR – May 2023 – L3 – Q5a – Emerging Trends in Corporate Reporting"

CR – Nov 2022 – L3 – Q5 – Emerging Trends in Corporate Reporting

Discuss the limitations of financial-only disclosures and the value of including non-financial information in annual reports.

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