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Benefits of Using Accounting Report

Uploaded by srheric on Apr 23, 2007

Benefits of Using Accounting Report

Accounting Report is the leading provider of competitive intelligence for accounting firms. It is renowned for its straight reporting and analysis of the news, developments, and trends that have defined the profession for over 20 years.

Topics covered include breaking news, in-depth firm profiles, mergers and acquisitions, office closings, auditor changes, key personnel moves, legal and regulatory issues, competitive intelligence, niche practices and product launches, and much more.

Here are several comments of what some people say about public accounting report:

"Insightful information you don't see anywhere else." Says Sean Egan, Managing Partner, KPMG.

"I look forward to every issue." Says Robert Leavy, Partner, Grant Thornton.

"Superior job of capturing current events." Says Dennis Hanno, Professor, Department of Accounting, University of Massachusetts.

An interesting issued that came across the Wall Street Journal the last month was regarding Internet Financial Accounting Reporting. How can companies improve the usefulness of their financial accounting reporting practices? Many companies are using the power and reach of the Internet to provide more useful information to financial statement readers.

Recent surveys indicate that over 80% of large companies have Internet sites, and a large proportion of these companies’ Web sites contain links of their financial statements and other disclosures. The increased popularity of such reporting is not surprising, since the costs of printing and dissemination of paper reports could be reduced with the use of Internet reporting.

How does Internet financial accounting reporting improve the overall usefulness of a company’s financial reports? First, dissemination of reports via the Web can allow firms to communicate with more users that is possible with traditional paper reports. In addition, Internet reporting allows users to take advantage of tools such as search engines and hyperlinks to quickly find information about the firm and, sometimes, to download the information for analysis, perhaps in computer spreadsheets.

Finally, Internet reporting can help make financial reports more relevant by allowing companies to report expanded disaggregated data and more timely data then is possible through paper-based reporting. For example, some companies voluntarily report weekly sales data and segment operating data on their Web sites.

Thus, although Internet financial reporting is gaining in popularity, until issues related to differential access to the Internet and the reliability of information disseminated via the Web are addressed, we will continue to see traditional paper-based reported, states Michael Fox,...

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Uploaded by:   srheric

Date:   04/23/2007

Category:   Accounting

Length:   6 pages (1,365 words)

Views:   6633

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