Report on Company’s Board of Management

Added on - 22 Jul 2020

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REPORT ONCOMPANY’SBOARD OFMANAGEMENT
Table of ContentsINTRODUCTION.................................................................................................................................3MAIN BODY........................................................................................................................................3Part A....................................................................................................................................................3Part B.....................................................................................................................................................4CONCLUSION.....................................................................................................................................5REFERENCES......................................................................................................................................6
INTRODUCTIONCompany board management is the function which plays an crucial role for anyenterprise. It is the situation of discussion where the chief members of organisation discusssuccess of business operations. The report will outline involvement of stakeholders in boardmeeting of firm and construction of financial statement. Also, it will identify advantages anddisadvantages of absorption and marginal costing and use of costing method in differentcompanies.MAIN BODYPart Aa) Relevant stakeholders as per conceptual frameworkShareholder engagement in board meeting is the most crucial part of meeting as ithelps the directors in determining interest of every individual with companies operations Likein case of Tesco board meeting engagement of 7 members is must in meeting whichcomprise, shareholders because these are the investors and the value of companies servicescan directly impact their value of shares (Horngren, Bhimani and Horngren, 2012). Further,involvement of auditor is mandatory because he or she is the person who helps the firm indetermining cost functions of enterprise. The manager is the person who has control over allthe financial information regarding business and its profits and losses. Apart from this, therewill be managerial head will share information regarding manpower requirement. In addition,risk management team gets involve in meeting to share details about areas of business whichinvolves risk and can become threat. The board meeting also comprise of member from, bankwho analyse the firm ability to payoff liabilities and loans on time, creditors, and governmentwho seeks information about functioning of business environment as per interest ofenvironment and publicb) The construction of financial statement to meet needs of company board managementThe construction of financial statement to meet the needs of board management requiredocumentation which comprise,statement of financial position (balance sheet), which determinesthe balance of assets and liabilities of organisation.In addition it includesStatement of activities
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