Report On Companies & Their Financial Status

Added on - 03 Feb 2020

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Company and SecuritiesLaw
Table of ContentsINTRODUCTION...........................................................................................................................3PART 1...........................................................................................................................................3Present arrangements regarding Reporting methods of companies............................................3PART 2............................................................................................................................................4Comprehensive analysis of existing corporate reporting............................................................4CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONLaw is a system of rules and regulations which are formed for the betterment of thesociety and its people. Law provides a basic frame work which provides basic guidelines andprocedures in accordance to which the rules are created and enforced through social andgovernmental institutions (Kraska and Pedrozo, 2013). In addition to this, there are differenttypes of law which are framed in different fields. One of them is the company and securities lawwhich provides a legal hypothesis, in accordance to which the company should operate itsfunctions. In this present report various aspects regarding to the companies and their financialstatus have been discussed.PART 1Present arrangements regarding Reporting methods of companiesBusiness organizations in order to conduct their operations in a smooth and legal manner,perform their functions in accordance with the lawful requirements laid down in the laws andlegislations that are framed in this regard. Companies are required to adhere all the rules andlegislations which are framed with a point of view to enhance the legal framework of theirbusiness concern. The Corporation Act, 2001 is framed in Australia, which is a common wealthact of Australia which lays down various legislations, rules and regulations of businessactivities in the said country. It is the principle act which owns the control over the companies inAustralia (Sealy and Worthington, 2013). In accordance to the provisions of act, there arevarious reports which are required to be framed by companies includes financial report, annualreport, CSR report and Director's responsibility statement. It can be further explained as :Financial reportsIn this aspect, annual report of companies are prepared in aspect of rendering the true andaccurate financial position of companies to its shareholders and stake owners. It comprises ofentire activities which are performed by companies for transaction of business. Also, Auditors
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