Corporate reporting Essay Example | Topics and Well Written Essays - 2000 words

Corporate reporting - Essay Example It is also about the organization and the recognition of what the economy is now, and what the economy ought to be in the near future. Corporate governance explains the types of processes and the ways in which companies and businesses are controlled and directed. They also indicate the level in which the managerial status of company is and include the information containing the board and its composition, the development that it brings and the level of accountability that it holds. Lastly, it focuses on the type of relationship that the management has with its shareholder, seeing that they are actually the owners of the company. Narrative reporting talks about the non-financial kind of work and it relates to financial information. Such information is presented alongside financial information and this enables for there to be an expanded understanding of a company’s main information (Robins, 34, 2010).   Response to the questions posed by the Finance Minister; 1. In Breakavia, the best placed to help in support of the initial development of the regulation for corporate reporting are the upcoming companies and industries, such as those in the industrial sector and also those in the tourism industry. Corporate reporting brings about the much needed transparency that will bring development in the country. There are certain international practices that can be used as examples in this country. Some include those of the companies that are based in the U.K and the U.S. From these countries, there have been major developments and due to their corporate reporting techniques have been named the best suited companies to rise in ranks. Significant information relating to companies include the market position that it holds, the supplies and the suppliers that it deals with, the general private and public performance both in and out of office and also the company’s future prospects. The next type of reporting, corporate responsibility shows basic information tha t pertains to the way that companies behold its image with its clients, their dealers, the society and the area or environment around them. Such information helps them attract and retain more clients and shareholders while still managing to increase the level of trust that the shareholders have put in the company (Stittle, 56, 2003).   Financial information about companies like in the United States brings transparency and enables a company to be able to maintain its major and final outlook. Financial regulation by the government is a form of regulation that allows financial companies and institutions to be subject to checks and guidelines. They also subject to certain restrictions, which are aimed at bringing about foreclosure of financial system and thus, bring about the rise of integrity of a financial institution. The financial regulation procedures can either be handled by the government of the state, capital markets and also other third parties. As for the regulation by the g overnment, there are laws that govern such activity; for example is, The Companies Act containing company law. There are also other legislations and edicts that are involved in the financial regulation of a business by the state. Regulation by capital markets is whereby there is the establishment of stock exchange to stipulate measurement and also