+1-415-670-9189
info@expertsmind.com
What is ir and its key concepts
Course:- Financial Accounting
Reference No.:- EM13718832




Assignment Help
Assignment Help >> Financial Accounting

You have been asked by a group of corporate accountants to research <IR> and write an essay on the concept and its implications for accounting practice.

Following the requirements outlined in the Study Guide you are required to write an essay which addresses the following questions.

a) What is <IR> and its key concepts?

b) Based on your research and understanding, what are the apparent opportunities/benefits and challenges/limitations of <IR> for reporting entities?

c) Based on your research and understanding, what do you consider to be the implications to accounting practice resulting from the adoption of <IR>?

Answered:-

Verified Expert


Preview Container content

Integrated Reporting is the process, that leads to communication with regards to value creation overtime. Integrated Reporting is the concise report about how an organization strategy, report lead to the creation of value overtime in short , medium and long term. It is the integrated reporting of company’s performance in terms of both financial as well as value relevant information. Integrated Reporting clarifies how value relevant information fit into the business, helps to know the performance data and also helps in decision making. The communication through integrated Reporting is beneficial to the stake holders.

Integrated reporting is adopted in order to aid the business by the International Integrated Reporting Council. IIRC plays an integrated role in order to form the Integrated Reporting. Integrated Reporting arises from organizations information with regards to strategy, management, sustainability reporting, etc. Integrate Reporting is the process which include the integrate thinking which include the periodic reporting by an organization about the communication and value creation of various aspects.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Financial Accounting) Materials
O’Hara Co. is interested in acquiring a new machine that costs $92,000. The machine will last 6 years and provide a cost savings of $23,000 a year. The salvage value of the ma
The vice president of operations of Avigi IQ Company is evaluating the performance of two divisions organized as investment centers. Prepare condensed divisional income statem
Direct Method 1) Using the following information, complete the statement of cash flows for Helen Hunt Co. for the year ended December 31, 2013. Place parentheses around those
Quillen Company is performing a post-audit of a project completed one year ago. The initial estimates were that the project would cost $241,582, would have a useful life of 9
Harbor Enterprise. Inc. (HE) manufactures electrical components. The inventory policy at HE is to hold inventory equal to 150% of the average monthly sales for its main produc
During 2011, Arthur Corporation reported a net income of $3,059,000. On January 1, Arthur had 2,800,000 shares of common stock outstanding. The company issued an additional 1,
The attorneys estimated that there is a 40 % chance of losing. If this is the case, their attorney estimated that the amount of any payment would be $500,0000. Illustrate wh
On November 1, 2014, Company N accepted a $10,000, 4 percent, 90 day note from a customer for $10,000 in sales. Interest is payable to Company N at retirement on January 1, 20