May 2021
Intermediate to advanced
146 pages
3h 21m
English
Content preview from Twenty-First Century Corporate Reporting
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The original need for corporate financial reporting arose because of the division between ownership and management. Such reporting was crucial to enable the owners to keep abreast of the financial condition of their companies. With the creation of joint stock companies, investors relied heavily on reporting to evaluate their investments.
This elementary situation evolved quickly with bankers and other lenders demanding comprehensive financial reports and governments developing tax systems that require some form of reporting. The types of stakeholders gradually expanded as companies grew and became more important to their communities, regions, and countries. People also came to realize their impact was beyond financial, ...