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Woolworth Integrated Reporting - ACCY 115

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Victoria University of Wellington

   

Added on  2020-03-01

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The integrated report refers to a brief correspondence that represents how organization system, governance, execution and prompt the creation of value over the short, medium and long term. The first part of the report explains the role of integrated reporting by identifying the problems related to traditional financial reporting. The second part describes the Woolworth Company listed on the ASX and determines whether the company is incorporated or non-integrated.

Woolworth Integrated Reporting - ACCY 115

   

Victoria University of Wellington

   Added on 2020-03-01

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RUNNING HEAD: Integrated reporting1Corporate Reporting
Woolworth Integrated Reporting - ACCY 115_1
Integrated reporting2Table of ContentsIntroduction......................................................................................................................................3Critically discussion of statement and role of integrated reporting.................................................3Woolworth Integrated reporting......................................................................................................4Conclusion.......................................................................................................................................5References........................................................................................................................................6
Woolworth Integrated Reporting - ACCY 115_2
Integrated reporting3IntroductionThe integrated report refers to a brief correspondence that represents how organization system, governance, execution and prompt the creation of value over the short, medium and long term. Organizations are using the idea of incorporated reporting to show clear, brief, coordinated data that portrays how all the resources of the business are creating value. Integrated reporting enables the business to contemplate their systems and plans, settle on educated choices and oversee the key problems to construct financial professionals and investor certainty and enhance future performance. Integrated reporting is outlined by a various coalition including business pioneers and speculators to drive an overall advancement in corporate reporting. The first part of the report explains the role of integrated reporting by identifying the problems related to the traditional financial reporting. The second part describes the Woolworth Company which is listed on the ASX and determines the company is integrated or non-integrated.Critically discussion of statement and role of integrated reportingAccording to Wild & van Staden, (2013), a feedback of stand-alone reports related to social and environmental exercises is that they demonstrate non-monetary data which is non-incorporated and categorized. Thus, they are not fit for furnishing stakeholders that are imperative to successfully surveying business execution, technique and potential for future value creation. Integrating reporting is considered as a response to this feedback. The Integrated Reporting Council communicates that the standard concentration of incorporating announcing is to give performance, methodology and potential for future value creation. Integrated reporting is considered as an answer to this criticism. The Integrated Reporting Council expresses that the principle focus of integrating reporting is to give the data around an organization's system, plans,administration, performance, and prospects such that will mirror the business, social and ecological conditions inside which it works. Integrated reporting additionally goes beyond environmental and sustainability reporting. The reason behind this is that integrated reporting is arranged at the future and hopes to get interconnections between the monetary and non-monetaryrelated drivers of execution. Integrated reporting does not need aspiration. The Integrated Reporting Council has assembled a system of organization exploring different avenues regardingintegrated reporting. For instance, these organizations are driving the path in adopting integrated
Woolworth Integrated Reporting - ACCY 115_3

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