Strategic report Flashcards
1
Q
Narrative reporting
A
relates to the non-financial information that is included in the annual reports to provide a meaningful picture of a company’s performance, strategy, market position and overall future plans
2
Q
purpose of the strategic report
A
provide shareholder with information that allows them to:
- assess the performance of a directors duty in promoting success of the company
- provide context for the related FS
- provide insight into the business model and its objectives and strategies
3
Q
FRC guidance
A
- relevant info that meets the stakeholder’s needs is presented within the strategic report
- companies are encouraged to experiment and be innovative in the drafting of their annual reports
4
Q
management commentary
A
a narrative report that provides users with explanations of the amounts that have been presented in the FS
5
Q
use of management commentary
A
to help users assess the performance of the entity and the actions of management.
