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Discussion: Management Reports
Management reports have been a prominent topic the past few years. The term â€œManagement Reportsâ€ can be understood in a variety of different contexts and applications. A management report is also included in the annual report to shareholders. An annual report to shareholders is not the same as annual financial statements, although financial information is included in an annual report to shareholders.
The management report is included in the annual report to shareholders as a result of the urging of a number of groups and organizations. Consequently, the form and content of the annual report to shareholders continues to evolve as management attempts to present additional decision useful information to various constituencies and stakeholders of the company.
- Explain the general purposes of the management report included in the annual report to shareholders.
- Identify five subject areas or topics that have been recommended for inclusion in the management report.
- Explain why the content of the management report might influence the activities of the external auditor during an audit engagement.
Just do response each posted # 1 to 3 down below only
The general purpose of the management report is for management to discuss the company vision, performance and challenges of the company and the future outlook of operations. Five subject areas that have been recommended for inclusion in the management report are: 1. The company’s identity and values 2. Vision for the future 3. Accomplishments and challenges 4. Financial benchmarks 5. Non-financial areas such as corporate responsibility.
The content of the management report might influence the activities of the external auditor during an audit engagement because the auditor is independent of the company and the management report can give good insight into any non-financial information that could change the depth of a particular area of the audit.
Hello Class and Professor,
Management Reports being included in the annual report to the shareholders gives them an insight into the operations of the business. An every day look to see how things are operating and what things are in need of improvement. Setting strategic goals and objectives in the report, pick the right KPIs for your audience, Take customer feedback into consideration in your reports, tell a story with your data, and make your report visually pleasing through focus are 5 subject areas recommended for the management report.
Good afternoon class,
The SEC requires public companies to include a management discussion and analysis in their annual report. The purpose of this report is for management to review certain topics with shareholders. These topics include any significant changes, such as changes in operations, revenues, or accounting policy; assessment of liquidity; risk exposures; off-balance-sheet items; etc.
The SEC also requires that the financial statements of public companies be audited by an external auditor. One reason the management report might influence the auditor’s focus is that the auditor is required to evaluate the assertions made in the financial statements. In other words, he is supposed to ensure that financial statements are reliable for its users.
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