1.2 What is the difference between an annual report and a 10-K report? An annual report although could be consider as shorter version of 10k but the key difference lies in approach and intention of reporting‚ meaning with what point of view the document is prepared an annual report is persuasive in nature and persuade investors to invest with the corporation‚ printed on a glossy paper with attractive graphic and contains management spin‚ management could chose the level of detail to be provided
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Understanding Financial Statements Annual reports are publications that a company issues to its shareholders‚ financiers and regulatory firms at the end of a financial year. Public companies mostly provide it to describe their operations and the financial states. The first part of an annual report has combinations of graphics‚ pictures and accompanying narratives the are in line with what the company has achieved in the previous year. Typically‚ the annual report has income statements‚ cash flow statements
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from past cases to prevent reoccurrences of similar detrimental activities. Do you believe that Andersen’s partners would have adopted a different management philosophy if they had recently studied the Laventhol & Horwath case? 3. Although audit reports should provide assurance to investors and creditors that
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3. a) Three parties that auditors might be held liable for negligence are : 1. Liability to client (Better Production & Co) 2. Liability to third party who use the information (Usahasama City Bank) 3. Liability to the foreseen user (who rely on the auditor’s financial statement) b) No. Aiman & Co can not be held liable to Usahasama & Co. The only action available for financial loss caused by a false financial statement was in the tort of deceit. In order to succeed‚ the claimant (Usahasama)
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Hall‚ Harlow. Writing a Report Report writing is very relevant to many forms of employment as well as your academic life. Unlike essays that are academic and theory based‚ reports are action based and with a wider scope. Reports use skills of application – applying what has been learned to a particular situation – not merely investigating and theorising. Reports are commonly used to communicate ideas‚ facts‚ findings or actions to be taken. Above all reports must be – objective‚ accurate
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Contents 1. Contents 1 Executive Summary The purpose of this research report is to understand of two important concepts from the Conceptual Framework for Financial Reporting----the objective of general purpose financial reporting and qualitative characteristics of useful financial information. In this report‚ Myer Holdings Ltd is as an example to describe these two concepts. This report includes the analysis on whether the disclosure of PPE from Myer Holdings Ltd meets the requirements
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ISA ISA 570 November 2008 International Standard on Auditing Going Concern INTERNATIONAL STANDARD ON AUDITING 570 Going Concern Explanatory Foreword The Council of the Malaysian Institute of Accountants has approved this standard in November 2008 for publication. This standard should be read in conjunction with the Preface to Malaysian Approved Standards on Auditing; Preface to International Standards on Quality Control‚ Auditing‚ Review‚ Other Assurance and Related Services; Glossary
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has violated the professional competence and due care. This is because Ariff need to know either his firm has capability in performing the audit due diligence and due care to avoid the incompetent services which result to unreliable report as well as the audit report can be questioned. The third situation shows in this case is when Ariff spend most of his time in his other company‚ a construction company and he seldom come to his CA firm and would trust the Audit Seniors to lead the assignments
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function is to report to the shareholders‚ on whether the financial statements show a true and fair view‚ have been properly prepared in accordance with the Companies Act and the applicable financial reporting framework (Shah‚ 2009‚ pp72-73). It is believed that the financial statements which have been scrutinised by a highly qualified and independent professional should become more reliable. However‚ there has been a lot of debate about how much reliance can be placed on the auditor’s report and how much
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Kong. Independent Commission Against Corruption‚ 《Annual report on the activities of the Independent Commission Against Corruption for 1976》(Hong Kong : The Commission‚1976) –Hong Kong –Hong Kong. Independent Commission Against Corruption‚ 《Annual report on the activities of the Independent Commission Against Corruption for 1978》(Hong Kong : The Commission‚1978) –Hong Kong –Hong Kong. Independent Commission Against Corruption‚ 《Annual report on the activities of the Independent Commission Against
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