FA Assignment
Corporate governance is the set of principles and practices that a corporation uses to regulate the relationship between the shareholders and the professional managers hired by the board of directors. Because the financial statements are an important channel of communication between the managers and the shareholders, the financial statements are crucial to the process of corporate governance (Stice & Stice, 2006).
http://www2.accaglobal.com/pdfs/international/pakistan/pm_cg.pdf
http://en.wikipedia.org/wiki/UK_Corporate_Governance_Code
Cobham Plc Directors’ Remuneration Report
1 Introduction
This report is going to discuss about the standards that have been used by United Kingdom (UK) companies to prepare their public financial statements. Those companies are Rolls Royce Holdings Plc, BAE Systems Plc. and one of their major competitors, Cobham Plc. In addition to that, this report is also going to analyse on whether these companies have or have not follow the reporting practices format based on the aerospace and defense industry format.
This report is going to discuss about the standards of financial reporting achieved by Rolls Royce Group, BAE Systems Plc. and their competitors. In fact, Rolls Royce and BAE Systems have a lot of competitors, but this report is only focusing to compare with their two major competitors, which are Cobham Plc and Babcock International Group Plc that manufacture similar products in the aerospace and defence industry and also the same home country, which is UK.
The transformation to International Financial Reporting Standards (IFRS) will have an effect not just on the company existing accounting policies and financial reporting. It also has an influence on the company’s underlying, systems, processes, controls, tax, strategy, and many others. For most companies the transformation to IFRS has an
http://www2.accaglobal.com/pdfs/international/pakistan/pm_cg.pdf
http://en.wikipedia.org/wiki/UK_Corporate_Governance_Code
Cobham Plc Directors’ Remuneration Report
1 Introduction
This report is going to discuss about the standards that have been used by United Kingdom (UK) companies to prepare their public financial statements. Those companies are Rolls Royce Holdings Plc, BAE Systems Plc. and one of their major competitors, Cobham Plc. In addition to that, this report is also going to analyse on whether these companies have or have not follow the reporting practices format based on the aerospace and defense industry format.
This report is going to discuss about the standards of financial reporting achieved by Rolls Royce Group, BAE Systems Plc. and their competitors. In fact, Rolls Royce and BAE Systems have a lot of competitors, but this report is only focusing to compare with their two major competitors, which are Cobham Plc and Babcock International Group Plc that manufacture similar products in the aerospace and defence industry and also the same home country, which is UK.
The transformation to International Financial Reporting Standards (IFRS) will have an effect not just on the company existing accounting policies and financial reporting. It also has an influence on the company’s underlying, systems, processes, controls, tax, strategy, and many others. For most companies the transformation to IFRS has an