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Integrated Reporting-英国论文代写精选

2017-05-17 | 来源:51due教员组 | 类别:Report代写范文

51due英国论文代写网精选report范文精选:“Integrated Reporting”,本文主要讲述的是近年来,一些跨国公司已经采用综合报告,形成了全新的报告概念。本篇论文代写范文仅供参考:

Integrated Reporting,report范文,英国代写,论文代写,英国论文代写

Introduction

With the development of reporting, traditional reporting cannot meet the requirements of new trends. Temporarily, companies and organizations focus more on the strategy instead of simple operation. The introduction of integrated reporting is aimed to solve the reporting deficiencies of the company. It will not only provide more information to all the related parties and force the management to do their job better.


Now the integrated reporting is adopted voluntarily. Companies and organizations could choose whether to implement it or not.


Meaning of integrated reporting

Integrated reporting is a report that combines the information about an organization’s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within one company or an organization operates. It provides a clear and concise representation of how an organization demonstrates stewardship and how it creates and sustains value.


Integrated reporting focuses on the resources and relationships, or capital. It contains six parts. 1) Financial. It focuses on the funds available for use. 2) Manufactured. It focuses on buildings, equipment and infrastructure. 3) Human. It lays emphasis on competencies, capabilities and experiences and motivation. 4) Intellectual. It focuses on patents, copyrights, software, rights, tacit knowledge and systems. 5) Natural, It pays attention to water, land, biodiversity and eco-system health. 6) Social and relationship. It lies in key relationships, brand, reputation and social licence to operate. 


Interaction of capital is the matter of the integrated reporting. Capital will continuously interact with one another, an increase in one resulting in a decrease in another.


Guiding principles of integrated reporting

Guiding principles of integrated reporting contain five parts. 


In the first place, it aims at the strategic focus and future orientation. Integrated reporting not only reports the financial figures and operating results but also shows the insight into strategy and the company’s ability to create value in the short, medium and long term. More important, the integrated reporting discloses the impact on the capital. It can be inferred that the fundamental principle of integrated reporting is capital and the capital is very crucial. 


This principle is in accordance with the contemporary trend. Strategy is a heat topic now and strategy could give a blue print for the future. Companies will formulate three-year or longer strategy to plan the future. Therefore, traditional report cannot meet the requirement and integrated reporting is coming up.


In the second place, it is an efficient way of information combination. It provides a lot of information about the company and the user of the report could know much about the company. It shows the factors of the operation and relationships among these factors.


In the third place, it strengthens the stakeholder relationships. As investors, Stakeholders care much about the results of the company. Integrate reporting will take into account the requirements and interest of stakeholders. Once the requirements and interest are considered by the company, the relationship between the company and stakeholders will be better. 


The stakeholders and the management of the company always stand on the two sides. The management always ignores the interest of the stakeholders and stakeholders will not get enough information from the traditional report. The turning up of the integrated report is a solution to this problem. It is conducive to meet the demand of the stakeholders.


In the fourth place, it has guidance in materiality, conciseness, reliability and completeness. Materiality means the importance of the information to the company. Conciseness means that the format and reporting form is easy to be understood. Reliability means the information is reliable and dependable. Completeness means the information contains all the important parts and the reporting could represent the whole results of the company.


To this principle, actually, is more related to the audit perspective. In auditing, the auditors emphasize on the materiality, conciseness, reliability and completeness of the report. Now the integrate reporting has the same aspect, which means that the company should take more responsibilities on its report. Therefore, the structure and operation should be improved and internal review system should be formulated.


With the application of integrated reporting, the structure will be more complete and changes should be made in order to finish the report. Therefore, the integrated report will make the company better.


In the fifth place, it focuses on consistency and comparability. It is a common principle that a lot of reports should be adhered to. Consistency means the reporting methods should be consistent without much modification. Comparability means the report could be used to compare with that of other organizations.


Comparison can help the management find the deficiencies of the company and then make improvements.


In a world, five guidelines keep pace with the times. Traditional reporting focus more on the financial figures and the content are also limited. A lot of needs cannot be met by the traditional reporting. On the contrary, the integrated reporting has brought a new concept of reporting framework. It gives the users of the report a broader view about the company, not only on the financial performance, but also on the operation and strategy, which is a constructive progress.


Key issues of integrated reporting

Reporting influences behavior. And also, reporting reflects the results of performance. It could reflect the efficiency of usage of resources and relationships, or capitals. Integrated reporting broadens the explanation of performance than the traditional reporting framework.


Firstly, integrated reporting is a meaningful assessment of long-term viability of the organizations’ business model and strategy. Integrated reporting focuses on the sustainable development. Unlike traditional reporting, it has a long-term plan for the company. Though reading the integrated reporting, readers can know the strategy of the company and have a clearer mind of the development of the company. More importantly, the investors could know about the future of the company and the tendency of the invested company.  


Secondly, it can meet the information needs of investors and other stakeholders. Integrated reporting contains more than one single report. From the primary report, people could know the outline of the performance of the company. From the detailed reports, people could know information of the company, such as human resources, intellectual properties and social relationships. The meaning of capital in integrated reporting is in a broad sense, including not only funds but also other intangible information.


Thirdly, it is helpful to allocate resources. Through integrated reporting, the management could determine how to allocate the resources, which could strength the efficiency of the operation. Meanwhile, the resources could also be allocated more properly.


In a word, the integrated reporting focuses not merely on the financial data but more on the operations, sustainability and allocation of resources.


Contrast between traditional financial reporting and integrated reporting


Overall speaking, the integrated reporting provides more information than traditional reporting. It changes the concept of reporting of traditional reporting framework.


The differences between traditional financial reporting and integrated reporting are as follows:


Firstly, mode of thinking is changed. Integrated reporting reflects and supports integrated thinking for an organization’s value creation process. Traditional process focuses on the performance of the business. However, integrated reporting not only focuses on the performance of the daily operation but also shows value of the capital. Integrated reporting introduces a new concept of value added. It is not only a report but also provides a way of thinking, which is very constructive.


Secondly, integrated reporting lays emphasis on steward ships. An integrated reporting displays an organization’s steward ships not only of financial capital, but also of the other “capitals”.


Thirdly, the focus of integrated and traditional reporting is different. An integrated report focuses on an organization’s strategic objectives and its ability to create and sustain value in the future, as well as, past financial performance and financial risks.


Fourthly, time frame of integrated and traditional reporting is different. Time frame of integrated reporting is in short, medium and long-term considerations.


Fifthly, the extent of trust is different. Integrated reporting lays emphasis on transparency. Traditional reporting primarily focuses on a narrow series of mandated disclosures.


Sixthly, adaption of integrated and traditional reporting is different. Integrated reporting offers a principle-based approach which drives greater focus on factors that are material to particular sectors and organizations.


Seventhly, the extent of conciseness of integrated and traditional reporting is different. Integrated reporting is concise and material. It only focus on the most important matters, therefore the format of the integrated reporting is very short and concise. On the contrary, the traditional reporting is long and complex. It has to reveal all the mandated information in accordance with the laws and regulations, no matter how important the information is.


Last but not least, the application of technologies on integrated and traditional reporting is different. Integrated reporting applies new and emerging technologies to link formation within the primary report and to facilitate access to further detail online. Integrated reporting can be analyzed for many purposes. However, traditional reporting is sole purposed and it cannot be used to analyze other matters. Traditional reporting also doesn’t apply many technologies. Therefore, integrated reporting is more suitable for the contemporary time. Online analysis and e-data sharing is a trend, which could make the transmission of data more efficient.


From the above eight points, it can be inferred that integrated reporting has incorporated the features of traditional reporting. Meanwhile, integrated reporting also adds a lot new functions and makes the reporting frame work more complete. In a word, the integrated reporting has made the reporting more useful.


Challenges of integrated reporting

Due to the functions of the integrated reporting, there are five challenges, which will weaken the effect of the integrated reporting.


Firstly, local regulations are not so complete in the perspective of integrated reporting. The concept of integrated reporting is new and it has not been widely used. Regulations are varied in different countries due to the different country backgrounds. For a single company and organization, the implementation of the integrated reporting is easier because the company could handle the government regulations and conform to the local laws. However, to the multinational corporations, different countries have different regulations and it is a challenge to combine all the subsidiaries and formulate a united reporting framework.


Secondly, the incentives of management will limit the function of the integrated reporting and the management need to balance the short-term rewards and long-term perspective. More often, the management will focus on the short-term results, especially on the perspective of profits. The result of profits is directly related to the reward of the management. Therefore, the management will tend to use traditional reporting, which could reflect the profit and loss directly. For the integrated reporting, it focuses more on the long term strategy. Therefore, the focus of traditional and integrated reports is different and it is also a dilemma for the management to choose which reporting framework should be implemented.


Thirdly, Confidentiality is also a challenge to the integrated reporting. Integrated reporting focuses reporting strategy, sourcing, allocation of resources and sustained value, which reflect a holistic view about the company and organizations. However, confidential information should be protected. On the one hand, integrated reporting will give all the related parties more information about the development of the company. On the other hand, it is also an important matter to protect some confidential information. One company needs some secrets to avoid the severe competition from its rivals. Therefore, the transparency of the reporting is a key concern.


To summarize the challenges, more relevant laws and regulations should be formulated; the management should balance the benefits of the short-term and long-term rewards; the transparency of the reporting is a matter need to be discussed and decided by each company and organization.


Future of integrated reporting

There is a foreseeable future for the integrated reporting. It will show its functions in the following aspect.


Firstly, more international companies will introduce integrated reporting. Some companies may implement both the integrated and traditional reporting framework for different purpose. For the supervision purpose, it will still use traditional report. For the management and stakeholder’s purpose, it will implement integrated reporting because it will contain more information. Even, integrated reporting will replace the traditional reporting gradually, because the integrated reporting has incorporated the function of the traditional one.


Secondly, the technologies will be developed to make the integrated reporting more convenient. Many companies will invest more in developing integrated reporting system and the system will connect all the information sources.


Last but not least, the concept of the reporting will be changed. The reporting will be more strategy-oriented. It will not only reflect the financial performance but also show a wide range of other information. The management will balance the target of short-term and long-term and the incentive system will also be adjusted in accordance with the application of the integrated reporting.


In a nutshell, the future of integrated reporting is bright. It is sure that it will be introduced by more and more companies.


Conclusion

This essay introduces many aspects of integrating reporting. 


Firstly, it introduces the background information of the turning up of integrated reporting. The turning up of the integrated reporting is conformed to the development of the time.


Secondly, meaning of integrated reporting is discussed in six parts and integrated reporting focusing on the appreciation of capital. 


Thirdly, there are five guiding principles, including strategic focus and future orientation, connectivity of information, stakeholder relationships, materiality, conciseness, reliability and completeness and consistency and comparability. 


Fourthly, key issues of integrated reporting are analyzed in three perspectives. It could make the management focus on long-term business performance and company strategy. It will also meet the needs of investors and other stakeholders. It will help allocate resources.


Fifthly, a detailed comparison is made between the integrated and traditional reporting framework. There are mainly eight parts of differences. Generally speaking, the integrated report contains the features of traditional reporting.


Sixthly, three challenges of integrated reporting are discussed in local regulations, incentive systems and confidentiality.


Finally, a bright future of integrated reporting is depicted in three parts. The coverage of the integrated reporting will be wider. Advance technologies will be implemented into the integrated reporting system. People’s mind of reporting will be adjusted.


In a nutshell, integrated reporting is a useful tool to manage a company or an organization. It keeps pace with the times and it is about to be widely implemented.


Reference

Introduction of Integrated Reporting, website of IIRC<www.theiirc.org>


Robert G. Eccles, Michael P. Krzus (2010) One report: integrated reporting for a sustainable strategy, John Wiley & Sons


Ioana- Maria Dragu (2013) The Integrated Reporting Initiative from an Institutional Perspective: Emergent Factors, Procedia - Social and Behavioral Sciences, 92:275-279


Robert G. Eccles, Beiting Cheng, Daniela Saltzman (2010) The Landscape of Integrated Reporting, Harvard Business Review


简而言之,综合报告是管理公司或组织的有用工具。它与时俱进,即将被广泛实施。文章由51due英国论文代写网提供。


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