Reporting and Disclosure

Reporting and Disclosure - International Accounting, 6/e...

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Choi/Meek, 6/e 1 International Accounting, 6/e Frederick D.S. Choi Gary K. Meek Chapter 5: Reporting and Disclosure
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Choi/Meek, 6/e 2 Learning Objectives Distinguish voluntary and mandatory disclosure and the applicable regulatory measures. Identify the broad objectives for accounting disclosure systems in investor-oriented equity markets. Discuss “triple-bottom line” reporting and why it is a growing tendency among large multinational corporations. Have a basic understanding of the following selected corporate financial-disclosure practices: (a) disclosures of forward- looking information, (b) segment disclosures, (c) social responsibility reporting, (d) special disclosures for non- domestic financial statement users, and (e) corporate governance disclosures.
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Choi/Meek, 6/e 3 Development of Disclosure Voluntary disclosure Voluntary disclosures are increasing as investors demand more detailed and timely information. But managers’ incentives for disclosure aren’t always aligned with those of investors. Disclosure regulations and third party certification can improve the functioning of capital markets.
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Choi/Meek, 6/e 4 Development of Disclosure (contin) Regulatory disclosure requirements Stock exchanges want to be sure that investors have enough information to evaluate a company’s performance and prospects. Disclosure protects investors, but shareholder protection varies across countries. Twin objectives of investor oriented markets (Frost and Lang 1996): Investor protection Investors are provided with material information. And are protected through monitoring and enforcement.
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This note was uploaded on 09/11/2011 for the course ACCT 210 taught by Professor All during the Spring '10 term at American University of Beirut.

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Reporting and Disclosure - International Accounting, 6/e...

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