scholarly journals Qualitative characteristics of company annual reports as perceived by constituencies in the reporting environment

1985 ◽  
Vol 16 (3) ◽  
pp. 119-124 ◽  
Author(s):  
D. K. Flynn
Keyword(s):  
Annual Report ◽  
Listed Company ◽  
Financial Analysts ◽  
Statistical Test ◽  
Financial Information ◽  
Annual Reports ◽  
Reporting Environment ◽  
Qualitative Characteristics

In this article a list of qualitative characteristics which investors and analysts are likely to require from the annual report of a listed company is identified. The research analyses data obtained from a questionnaire in an effort to determine which qualitative characteristics are most important to investors and financial analysts. It is attempted to determine whether a more parsimonious list can be constructed. Finally, a statistical test is performed in order to establish whether preparers and regulators of financial information perceive the qualitative characteristics deemed important by investors and analysts correctly.In hierdie artikel word 'n lys van kwalitatiewe eienskappe wat beleggers en finansiele analiseerders moontlik van die jaarverslag van 'n gekwoteerde maatskappy kan verwag, geidentifiseer. Die navorsing analiseer data verkry van 'n vraelys in 'n poging om te bepaal watter kwalitatiewe eienskappe die mees belangrikste vir beleggers en analiseerders is. Daar word verder gepoog om vas te stel of 'n korter lys opgestel kan word. Laastens word 'n statistiese toets uitgevoer om te bepaal of die voorbereiders en reguleerders van finansiele inligting die kwalitatiewe eienskappe wat beleggers en analiseerders belangrik ag, korrek waarneem.

scholarly journals Individual Investors Perceptions On The Summary Annual Report: A Survey Approach

2011 ◽  
Vol 10 (3) ◽  
pp. 60 ◽  
Author(s):  
Marc J. Epstein ◽  
Moses L. Pava
Keyword(s):  
Annual Report ◽  
The United States ◽  
Financial Information ◽  
Annual Reports ◽  
Individual Investors ◽  
Corporate Communications ◽  
Survey Results ◽  
Sizeable Minority ◽  
Survey Approach

<span>As the role of institutional investors is being transformed, there is a tendency to overlook the needs of individual investors. Nevertheless, there are well over 30 million individual investors in the United States, and these numbers are growing rapidly. One area of particular concern is corporate communications. All investors, professional as well as non-professionals, should have access to financial information. However, annual reports, as currently issued, are often difficult to read and understand, and therefore lack communication value. A possible solution is the summary annual report (SAR), which has been designed to condense and simplify the traditional GAAP statements. To date, most U.S. Corporations have not adopted the new format, in part, out of a fear of negative shareholder reaction. Our survey results clearly indicate that annual reports, as they are currently issued, are difficult to understand for a sizeable minority of investors. One out of 4 investors reported that annual reports were so difficult to understand that they were of no substantial help in making investment decisions. Further, results show that a majority of respondents demand inclusion of further explanation of the financial information in less technical terms, and over a third would like to see SARs to the exclusion of full GAAP reports. Through the SAR, management has an opportunity to significantly improve corporate communications. WE strongly recommend that management continues to experiment with its format, design, and content.</span>

scholarly journals Corporate Governance Characteristics of Private SMEs’ Annual Report Submission Violations

2020 ◽  
Vol 13 (10) ◽  
pp. 230
Author(s):  
Oliver Lukason ◽  
María-del-Mar Camacho-Miñano
Keyword(s):  
Corporate Governance ◽  
Annual Report ◽  
Financial Information ◽  
Annual Reports ◽  
Board Members ◽  
Firm Age ◽  
Unethical Behaviour ◽  
Independent Variables ◽  
Submission Deadline ◽  
Business Ties

Managers are, by law, responsible for the timely disclosure of financial information through annual reports, but despite that, it is usual that they are engaged in the unethical behaviour of not meeting the submission deadlines set in law. This paper sheds light on the afore-given issue by aiming to find out how corporate governance characteristics are associated with annual report deadline violations in private micro-, small- and medium-sized enterprises (SMEs). We use the population of SMEs from Estonia, in total 77,212 unique firms, in logistic regression analysis with the delay of presenting an annual report over the legal deadline as the dependent and relevant corporate governance characteristics as the independent variables. Our results indicate that the presence of woman on the board, higher manager’s age, longer tenure and a larger proportion of stock owned by board members lead to less likely violation of the annual report submission deadline, but in turn, the presence of more business ties and existence of a majority owner behave in the opposite way. The likelihood of violation does not depend on board size. We also check the robustness of the obtained results with respect to the severity of delay, firm age and size, which all indicate a varying importance of the explanatory corporate governance characteristics.

scholarly journals Evaluation of information disclosure in annual reports of extractive industry companies

2021 ◽  
pp. 172-176
Author(s):  
E.A Fedorova ◽  
Yu.I Grishchenko ◽  
A.V Grishchenko ◽  
P.A Drogovoz
Keyword(s):  
Information Disclosure ◽  
Annual Report ◽  
Financial Information ◽  
Annual Reports ◽  
Mandatory Disclosure ◽  
Extractive Industry ◽  
The Public ◽  
Mining Companies ◽  
The Russian Federation ◽  
Key Terms

Purpose. To assess how public annual reports of Russian extractive industry issuers comply with the requirements for disclosure of information. To examine how the introduction of Corporate Governance Code affects the level of information disclosure in extractive industries. Methodology. The paper presents the dictionary compiled by the authors using text analysis. The dictionary contains 186 terms which are to be disclosed in compliance with the requirements of Russian law. To evaluate the level of information disclosure in annual reports of extractive industry issuers, the authors calculate mandatory disclosure index. Findings. In this work, based on the standards for disclosing non-financial information in public annual reports of issuers, the following results were obtained: 1. On the basis of regulatory enactments, key terms are identified that are subject to mandatory disclosure in the annual report of the issuer. 2. A methodology is developed for assessing the level of disclosure of non-financial information on the selected blocks based on textual analysis. 3. Assessment of information disclosure in the public annual reports of mining companies in accordance with the legislation of the Russian Federation was carried out. The rating of information disclosure has been built. Originality. The authors are the first to assess mandatory disclosure in 120 public annual reports of 12 largest extractive industry companies whose shares were traded in Moscow Exchange from 2009 to 2018. On the basis of regulatory enactments, key terms are identified that are subject to mandatory disclosure in the annual report of the issuer. A methodology is developed for assessing the level of disclosure of non-financial information on the selected blocks based on textual analysis. The assessment of information disclosure in the public annual reports of mining companies in accordance with the legislation of the Russian Federation was carried out. Practical value. The created library in Package R enables to evaluate disclosure of information in public annual reports for any period.

Disclosure of Non-Financial Information Voluntarily in the Annual Report of Financial Institutions: A Study on Listed Banks of Bangladesh

2013 ◽  
Vol 8 (2) ◽  
Author(s):  
Hussain Muhammad Arif ◽  
Mehedi Hasan Tuhin
Keyword(s):  
Financial Institutions ◽  
Voluntary Disclosure ◽  
Annual Report ◽  
Financial Information ◽  
Annual Reports ◽  
Average Score ◽  
Satisfactory Level ◽  
Specific Factors

The aim of this paper is to measure the extent of disclosure of voluntary non-financial information in the annual reports of listed banks in Bangladesh. An effort has also been made to identify the company specific factors responsible for disclosing voluntary non-financial information in addition to mandatory information. An unweighted disclosure index with 48 items has been used to measure the extent of disclosure. The study reveals that most of the listed banks of Bangladesh are making satisfactory level of voluntary disclosure with average score of about 62%. The findings also show that out of three company specific attributes, age and size are significant in explaining the level of voluntary disclosure.

scholarly journals Integrated Reporting Practice and Disclosure in Bangladesh’s Banking Sectors

2019 ◽  
Vol 3 (2) ◽  
pp. 147
Author(s):  
Niaz Mohammad
Keyword(s):  
Annual Report ◽  
Sustainability Reporting ◽  
Financial Statements ◽  
Financial Information ◽  
Annual Reports ◽  
Integrated Reporting ◽  
Corporate Reporting ◽  
Reporting Practice ◽  
Social Environmental ◽  
Corporate Social

Integrated reporting (IR) is a new form of corporate reporting that has emerged after decades of calls by academics and practitioners for more holistic and integrated corporate reporting on the economic, environmental, and social aspects of business. The present research relied on a critical review of the literature on IR practices and sustainability reporting. Indexed journals were reviewed, and evidence was drawn upon to develop a model examining the possible determinants of IR in annual reports. To this end, reports from 20 different banks from 2012 to 2017 were considered. Analyzing the financial statements of these banks through their annual reports provided insightful disclosures concerning triple bottom lines (social, environmental, and economic); the findings of the study suggested that very few banks have taken initiatives to disclose such information in their annual reports. Using annual report content analysis, the findings showed that in 2017, companies started providing non-financial information regarding the environment, society, and governance along with financial figures. However, it is noteworthy that companies still provide this information in disconnected strands and as part of corporate governance or corporate social responsibility disclosures instead of linking such information to financial information and providing it within integrated reports.

scholarly journals Timeliness Value and Free-from-error Quality of Accounting Information: A Study on Commercial Banks

2020 ◽  
Vol 10 (2) ◽  
pp. 137-142
Author(s):  
Mohammad Jafaur Ahamed
Keyword(s):  
Commercial Banks ◽  
Annual Report ◽  
Accounting Information ◽  
Annual Reports ◽  
Primary Data ◽  
Press Releases ◽  
Quality Of Accounting Information ◽  
To Come ◽  
Qualitative Characteristics

This paper makes an effort to assess the timeliness value and free-from-error quality of accounting information generated by AIS through the avenue of annual reports of the selected commercial banks in Bangladesh. An opinion survey was run through a closed questionnaire- designed by using a five-point Likert scale. Based on primary data, the study reveals that the qualities of accounting information produced by AIS of commercial banks are satisfactory in terms of both timeliness and free-from-error, yet inadequate in absolute terms. Moreover, the study substantiates that there is no significant variation (homogeneity) of opinion among the respondents regarding the timeliness and accuracy of accounting information. The outcomes of the study identified that the feature of annual reports of commercial banks in Bangladesh is not up to the standard due to erratic power supply, poor communication infrastructures, the accidental entry of poor data, virus infection, unauthorized accessing, copying, printing and distributing of data or information, etc. Consequently, respective authorities are highly encouraged to come forward to ensure the maximum qualities of AIS. The study has focused on two qualitative characteristics and only on the annual report. Thus, further research is recommended to conduct focusing on others such as quarterly and interim reports, bank circulars, financial press releases, etc. to investigate the extent of additional qualities, for instance, feedback value, credible value, clarity value, etc.

scholarly journals Toegevoegde waarde in jaarverslae van Suid-Afrikaanse maatskappye: 'n Kort oorsig van die praktyk

1987 ◽  
Vol 18 (4) ◽  
pp. 243-249
Author(s):  
A. P. Du Plessis
Keyword(s):  
Interest Groups ◽  
South African ◽  
Annual Report ◽  
Stock Exchange ◽  
Financial Analysts ◽  
Value Added ◽  
Annual Reports ◽  
Johannesburg Stock Exchange ◽  
A Value ◽  
Chartered Accountants

South African listed companies (Johannesburg Stock Exchange, Industrial) have been following the example of British Companies since 1977 in the inclusion of a value-added statement in the annual report. An analysis of the statement of value added in the annual reports of 47 South African companies has shown that in respect of items like the title of the statement, the format, non-trading debits and credits, payroll costs, interest and dividends, taxation and retentions, a variety of practices are followed. The mere fact that information made available in the statement of value added is not standardized, complicates the task of interest groups such as shareholders, creditors, employees, financial analysts and others. This matter should receive the urgent attention of the Accounting Practices Board of the South African Institute of Chartered Accountants.

scholarly journals Transparency of public private partnership (PPP): the extent of mandatory information disclosure

2019 ◽  
Vol 9 (5) ◽  
pp. 655-668
Author(s):  
Suhaiza Ismail ◽  
Mubarak Shehu Musawa ◽  
Hawa Ahmad
Keyword(s):  
Information Disclosure ◽  
Annual Report ◽  
Public Private Partnership ◽  
Financial Information ◽  
Annual Reports ◽  
Private Partnership ◽  
Content Type ◽  
Construction Firms ◽  
Construction Companies ◽  
The Mean

Purpose The purpose of this paper is to examine the extent public listed construction firms in Malaysia disclose mandatory information on public private partnership (PPP) projects. This paper is important as the level of disclosure of PPP information reflects the extent of transparency as practiced by the companies involved in PPP projects. Design/methodology/approach In achieving the aim, a content analysis procedure was carried out to analyse the 2015 annual reports of the construction companies. Descriptive statistics including the mean score, frequency and percentage were employed to analyse the disclosure of the annual report. Findings The overall mean disclosure score of the sampled companies is 40 per cent, which connotes a low level of disclosure of mandatory information on PPP. The companies also tend to disclose more mandatory financial information than non-financial information. Originality/value This paper is one of the few studies that investigated the level of mandatory disclosure of PPP information, thus contributing to the scanty literature on PPP transparency not only in Malaysia but also internationally.

scholarly journals The process of producing annual reports – Models derived from consultants’ narratives

2011 ◽  
Vol 1 (2) ◽  
pp. 29-34
Author(s):  
Gunnar Rimmel Rimmel ◽  
Kristina Jonäll ◽  
Inga-Lill Johansson
Keyword(s):  
Public Relations ◽  
Production Process ◽  
Annual Report ◽  
Listed Company ◽  
Communication Process ◽  
Annual Reports ◽  
The Public ◽  
Important Means ◽  
A Company ◽  
Public Relations Agency

Annual reports are an important means of communication for companies. Readers use the information in the annual report to form a general picture of a company. In general, not many readers of annual reports reflect that this document is, apart from the numbers in the accounts, in large parts outsourced to public relations companies.Although information content of corporate annual reports have been studied in many way the production process has been absent in accounting research so far. The purpose of this article is to describe and examine the process of producing annual reports as a means of communication for listed Swedish corporations. This study focuses on the interplay between the corporation’s personnel and the public relations agency. An examination of the annual report production process shows elements that are most useful in describing the communication process. A systematic review of the annual report production process necessitates the development of a model which will organize the complex elements of communication that derives from the interaction of the multinational with its public relations agency.The analysis shows that there is interplay between a listed company and public relations agency that makes aims to produce a certain picture among the readers of annual reports. However, it is not possible to draw a strict line that public relations work is solely limited to layout and pictures. In some cases of annual report production, a listed company is heavily influenced and open to suggestions by the specific knowledge of a public relations company, when it comes to content and structure of texts numbers. Therefore, it is important to understand the process of annual report production as an interplay between the company and public relations professionals, as the annual report is contributing to maintain legitimacy, creating trust and confidence in the company and the activities it engages in.

The Annual Reports of the Prison Commissioners for Scotland and Religion, 1903–1931

2019 ◽  
Vol 48 (1) ◽  
pp. 83-101
Author(s):  
Cameron McKay
Keyword(s):  
Annual Report ◽  
Annual Reports ◽  
Individual Choice ◽  
Drinking Habits ◽  
Parental Neglect ◽  
Late Nineteenth ◽  
Causes Of Crime ◽  
Criminological Theories ◽  
The Relationship ◽  
Insight Into

During the late nineteenth and early twentieth century penologists began to explore the possibility that environment and upbringing, as opposed to individual choice, were the causes criminality. The Prison Commissioners for Scotland, the devolved body who administered prisons north of the border, were not immune to this wider trend. Smith has argued that from the 1890s onwards the Commissioners began to accept that criminality was caused by social problems, namely alcoholism, but also parental neglect, poor education and poverty. In their efforts to test these new criminological theories, the Commissioners began to make more careful enquiries into the backgrounds of their charges. From 1896 to 1931 the Commissioners interviewed a sample of prisoners each year and included the findings in their annual report. Although the main focus of these interviews was on the upbringing and drinking habits of prisoners; by the 1900s the Commissioners seem to have added irreligion to the growing list of etiological causes of crime, and from 1903 onwards prisoners were asked to give details on their religious habits. Although it is debateable how much the Prison Commissioners revealed about the relationship between religion and crime, they did however provide a useful insight into the religiosity of the average prisoner.

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