Financial Accounting for Managers, 2/e, 2nd Edition

11

Disclosures in Annual Reports

CHAPTER OBJECTIVES

This chapter will help the readers to:

• Develop understanding about the disclosure requirements under the Companies Act.
• Differentiate between a qualified audit report and a clean report.
• Appreciate the disclosure requirements as per the listing agreement.
• Get familiar with the disclosure requirements under AS 29 ‘Provisions, Contingent Liabilities and Contingent Assets’, AS 17 ‘Segment Reporting’, AS 18 ‘Related Party Disclosure’ and AS 27 ‘Financial Reporting of Interests in Joint Ventures’.
• Understand the voluntary disclosure practices relating to value added statement, economic value added, human resource accounting and brand valuation.

In addition to the financial statements discussed ...