Topic _9 Summary - Ben Alexander Pat Ciannella Brett...

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Ben Alexander Pat Ciannella Brett Sweeney Group 9 Executive Summary: Enhanced Business Reporting Introduction Enhanced Business Reporting (EBR) is a way to communicate more easily between organizations and outside users. EBR can do this by using a more concentrated form of XBRL. EBR uses this to create a more meaningful classification to the non-financial portions of the financial statement reports. The AICPA’s website states that “these portions include narrative portions of the 10K including MD&A, proxy statements, and compensations disclosure and analysis.” EBR also has special committees that are broken up between public and private companies. The AICPA has special committees that are for public companies and call this committee the Public Company Task Force. The special committee for private companies is ironically called the Private Companies Enhanced Business Reporting Task Force. EBR also has an association of companies which work together for the public interest to improve the quality of information used in capital markets. This association is called the Enhanced Business Reporting Consortium (EBRC). For the practice of assurance services EBR will help immensely in the transfer of information and disclosure of a company’s credentials to outside users. What is EBR EBR makes disclosures in financial documents simpler, and it enhances the relevancy to users of the financial documents. EBR enhances relevancy of the financial reporting by add critical non financial information that is not already disclosed. This information includes items like: competitive environment risks and strategies value drivers Key Performance Indicators (such as new customers, cycle rates ,or sales forecasts)
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This helps the company become more transparent to potential investors, creditors and the public so that in midst of the current financial crisis we can see what each company is doing. EBR
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Topic _9 Summary - Ben Alexander Pat Ciannella Brett...

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