Intergraded Reporting Framework

ACC303 Advance Management Accounting Major Assignment Question1
ACC303 ADVANCE MANAGEMENT ACCOUNTING MAJOR ASSIGNMENT
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ACC303 Advance Management Accounting Major Assignment Question2
Intergraded Reporting Framework
Introduction
Corporate reporting ought to keep pace with developing world and deals with needs of broad
stockholder’s audience by offering non-financial and financial information having long-run
and short-run focus (Lodh 2018). The latest framework to the corporate reporting known as
the integrated reporting was suggested by IIRC. Basically, the IR is new but is considered a
powerful hint to corporate reporting; enhancing the manner in which firm think, report and
plan stories of their operations. A good number of entities are using the IR in communicating
concise, clear, and integrated stories which demonstrates how all the resources are adding
some value (Moolman, Oberholzer & Steyn 2016). As a result, the paper assesses relevance
of the IR in modern corporate world. It aims to offer clear explanation on whether IR has had
any form of influence on control and tactics on firm’s operational model including strategic
control and value creation. Additionally, the paper highlights as to whether the framework is
utilised by numerous public and private firms in the corporate reporting. Finally, it presents
analysis on how the six capitals under the IR framework might affect role of the strategic
management accounting.
Relevance of IR in Modern Corporate World
IR is viewed as the means of improving financial stability as well as rebuilding trust in the
capital market and their capacity in serving real economy. Therefore, IR is a process
established on an integrated intelligent, which leads to period integrated reporting by an
entity on value creation over specific period (Lodh 2018). Besides, IR is the concise or
precise statement on how firm’s governance, forecasts, performance as well as plan bring
about value establishment in the long-, short- as well as medium-term. This has changed

ACC303 Advance Management Accounting Major Assignment Question3
corporate reporting process in the modern world. Integrated reporting brings together the
non-financial plus financial measures in a single price of report. Besides, IR displays links or
association amongst the non-financial and financial performance measures (Villegas 2017).
Furthermore, IR offers performance financial information in more integrated manner on
organization’s websites alongside with offering detailed financial info on specific interest to
stockholders.
The framework expands excellence of financial information readily accessible to the financial
capital suppliers in empowering more creative and competent capital allocation. Moreover, it
promotes more effective and consistent technique to corporate reporting that appeals on
diverse reporting aspects as well as communicates wide-range of aspects which materially
impact capacity of a company to create some values. It also boosts stewardship and
responsibility for different forms of capitals as well as promotes their interdependencies
understanding.
IR moves far beyond the silo technique of information reporting and gathering towards more
comprehensive examination and presentation of the firm’s performance and value (Sofian &
Dumitru 2017). In fact, IR is relevant since it offer more holistic view point of an entity
information significant to their business model, strategy as well as capacity to tolerate and
create worth in long-, short- and medium-term. It offer probable benefits like offer greater
transparency of and access to financial information from broader range of both the external
and internal information sources via integrated procedures and standardisation of the
financial information. Besides, IR is relevant since it offer streamlined corporate reporting via
more reuse of the reporting components, collaboration and transparency of the financial
reporting as well as analytical concepts utilised by both the external and internal financial
analysts. It is also relevant since it offer more understandable and relevant financial