List and explain how integrated reporting is different from traditional financial reporting
What will be an ideal response?
Answer:
- Thinking. Thinking progresses from silo thinking used for traditional financial reporting to integrated thinking about the value creation process and long-term success.
- Stewardship. Stewardship of financial capital shifts to stewardship of all forms of capital, including human and intellectual capital.
- Focus. Focus on the past financial performance shifts to focus on the past and the future,
including the connection between performance and strategic objectives.
- Timeframe. Timeframe moves from short term to short, medium and long-term considerations.
- Trust. Trust is improved by shifting from narrow disclosures to greater transparency.
- Adaptive. Integrated reporting moves from rule-bound reporting to adaptive reporting to respond to individual company circumstances.
- Concise. Long, complex reports are replaced with reports that are concise, covering material
information.
- Technology Enabled. Integrated reporting uses emerging technologies, such as XBRL.
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On January 2, 2017, Mahoney Sales issues $10,000 in bonds for $9,400
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In the FABV approach, if the salesperson is discussing the monetary terms associated with the offering, s/he is talking about ________
A) features B) advantages C) benefits D) value E) macroenvironment