Managerial Accounting BAO5522: Air Traffic Navigation Systems Analysis

This report provides a comprehensive analysis of the managerial accounting practices of Air Traffic Navigation Systems Ltd, evaluating its reporting framework against the PwC Value Framework. The assessment examines various aspects of the business, including strategies and objectives, business models, governance, risk management, remuneration, financial and physical assets, customer relations, people and culture, innovation, brands and intellectual assets, processes and supply chain, operational, economic, social, environmental, and segmental performance. Each element is critically analyzed based on report extracts, providing reporting critiques, assessing extensiveness and accessibility, and evaluating comprehensiveness. The analysis offers conclusions and strengths for each element, determining the overall quality of reporting. The report highlights key areas such as strategies for sustainability, corporate governance, risk management policies, remuneration structures, and financial asset management. The study aims to assess the alignment of the company's reporting with the PwC framework, identifying strengths and weaknesses in the presentation of performance information.

Running head: MANAGERIAL ACCOUNTING
Managerial Accounting
Name of the Student:
Name of the University:
Author’s Note

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Executive Summary
The main purpose of the assessment is to analyze the business of Air Traffic Navigation Systems
ltd which is engaged in managing air traffic in an appropriate manner. The reporting framework
of the business is considered and analyzed if the same is consistent with the PwC framework of
the business. The discussion would be covering different areas of reporting which is managed by
the business.

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Table of Contents
PwC Value Framework Elements....................................................................................................8
1. Value Framework Element: Strategies and Objectives............................................................8
Report Extracts:...........................................................................................................................8
Reporting Critique.......................................................................................................................9
Extensiveness and Accessibility..................................................................................................9
Comprehensiveness.....................................................................................................................9
Conclusion and Strength..............................................................................................................9
2. Value Framework Element: Business Model.........................................................................10
Report Extracts:.........................................................................................................................10
Reporting Critique.....................................................................................................................10
Extensiveness and Accessibility................................................................................................10
Comprehensiveness...................................................................................................................11
Conclusion and Strength............................................................................................................11
3. Value Framework Element: Governance...............................................................................11
Report Extracts:.........................................................................................................................11
Reporting Critique.....................................................................................................................12
Extensiveness and Accessibility................................................................................................12
Comprehensiveness...................................................................................................................13
Conclusion and Strength............................................................................................................13

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4. Value Framework Element: Risk Management.....................................................................13
Report Extracts:.........................................................................................................................13
Reporting Critique.....................................................................................................................14
Extensiveness and Accessibility................................................................................................14
Comprehensiveness...................................................................................................................14
Conclusion and Strength............................................................................................................14
5. Value Framework Element: Remuneration............................................................................15
Report Extracts:.........................................................................................................................15
Reporting Critique.....................................................................................................................16
Extensiveness and Accessibility................................................................................................16
Comprehensiveness...................................................................................................................16
Conclusion and Strength............................................................................................................16
6. Value Framework Element: Financial Assets........................................................................17
Report Extracts:.........................................................................................................................17
Reporting Critique.....................................................................................................................17
Extensiveness and Accessibility................................................................................................18
Comprehensiveness...................................................................................................................18
Conclusion and Strength............................................................................................................18
7. Value Framework Element: Physical Assets..........................................................................19
Report Extracts:.........................................................................................................................19

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Reporting Critique.....................................................................................................................19
Extensiveness and Accessibility................................................................................................20
Comprehensiveness...................................................................................................................20
Conclusion and Strength............................................................................................................20
8. Value Framework Element: Customers.................................................................................21
Report Extracts:.........................................................................................................................21
Reporting Critique.....................................................................................................................21
Extensiveness and Accessibility................................................................................................21
Comprehensiveness...................................................................................................................21
Conclusion and Strength............................................................................................................22
9. Value Framework Element: People & Culture.......................................................................22
Report Extracts:.........................................................................................................................22
Reporting Critique.....................................................................................................................23
Extensiveness and Accessibility................................................................................................23
Comprehensiveness...................................................................................................................23
Conclusion and Strength............................................................................................................23
10. Value Framework Element: Innovation G&S....................................................................24
Report Extracts:.........................................................................................................................24
Reporting Critique.....................................................................................................................25
Extensiveness and Accessibility................................................................................................25

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Comprehensiveness...................................................................................................................25
Conclusion and Strength............................................................................................................25
11. Value Framework Element: Brands and Intellectual Assets..............................................26
Report Extracts:.........................................................................................................................26
Reporting Critique.....................................................................................................................26
Extensiveness and Accessibility................................................................................................27
Comprehensiveness...................................................................................................................27
Conclusion and Strength............................................................................................................27
12. Value Framework Element: Processes and Supply Chain..................................................27
Report Extracts:.........................................................................................................................27
Reporting Critique.....................................................................................................................27
Extensiveness and Accessibility................................................................................................28
Comprehensiveness...................................................................................................................28
Conclusion and Strength............................................................................................................28
13. Value Framework Element: Operational Performance.......................................................29
Report Extracts:.........................................................................................................................29
Reporting Critique.....................................................................................................................29
Extensiveness and Accessibility................................................................................................30
Comprehensiveness...................................................................................................................30
Conclusion and Strength............................................................................................................30

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14. Value Framework Element: Economic Performance.........................................................31
Report Extracts:.........................................................................................................................31
Reporting Critique.....................................................................................................................31
Extensiveness and Accessibility................................................................................................32
Comprehensiveness...................................................................................................................32
Conclusion and Strength............................................................................................................32
15. Value Framework Element: Social.....................................................................................32
Report Extracts:.........................................................................................................................32
Reporting Critique.....................................................................................................................32
Extensiveness and Accessibility................................................................................................33
Comprehensiveness...................................................................................................................33
Conclusion and Strength............................................................................................................33
16. Value Framework Element: Environmental.......................................................................33
Report Extracts:.........................................................................................................................33
Reporting Critique.....................................................................................................................33
Extensiveness and Accessibility................................................................................................34
Comprehensiveness...................................................................................................................34
Conclusion and Strength............................................................................................................34
17. Value Framework Element: Segmental..............................................................................35
Report Extracts:.........................................................................................................................35

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Reporting Critique.....................................................................................................................35
Extensiveness and Accessibility................................................................................................36
Comprehensiveness...................................................................................................................36
Conclusion and Strength............................................................................................................36
Reference.......................................................................................................................................37

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PwC Value Framework Elements
1. Value Framework Element: Strategies and Objectives
Report Extracts:
(Page 81, Integrated Report 2017/18)
The assessment aims to present the strategies which are formulated by the management
of Air Traffic Navigation Service Ltd is to ensure that the business is able to operate with
sustainability in the operational framework of the business Atns.com. (2019). The organization
aims to promote sustainability by bringing about technological development in ATM

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Community. Further, the management aims to implement continuous improvements for
managing resources and climatic changes.
Reporting Critique
The reporting critiques which are presented in the annual report of the business are shown
below in point form:
 The management of Air Traffic Navigation Service Ltd has shown its strategies in details
focusing on sustainability and innovation.
 The business has also set out a proper timeline for achieving the goals of the business.
Extensiveness and Accessibility
The annual report of the business shows a whole section on strategies and
implementation of the same and the same is covered on page 81. The business has presented
appropriate charts and explanation for proper understanding of the strategies.
Comprehensiveness
The strategy section of the annual report of the business shows the future perspective of
the business so that the services of the business are of the best quality. The focus of the business
is sustainability approach in the business.
Conclusion and Strength
The business is focusing on maintaining efficiency in the organization by putting more
emphasis on sustainability practices in the business. The business also focuses on continuous
improvement and innovation for enhancing the operational capabilities of the business.
Therefore, it can be said that the quality of strategies and objectives for the business is ‘good’.

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2. Value Framework Element: Business Model
Report Extracts:
(Page 14, Integrated report 2017/18)
Reporting Critique
The report critique for the business model which is followed by the company is shown below:
 The extract which is considered provides a clear picture of the process which is to be
followed by the business for the purpose of creating value in the business.
Extensiveness and Accessibility
The business of Air Traffic Navigation Service Ltd has effectively presented the business
model of the company in page 14 of the annual report both in the form of chart and explanations.

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The business model also sets out the plans of the business for improving quality of services and
also lists out any assumptions which are taken by the management.
Comprehensiveness
The business of Air Traffic Navigation Service Ltd appropriate uses modern technology
and user information for properly maintaining the air traffic. The company considers the
development of aviation industry and is trying to make continuous improvements in the business
structure and performance (Atns.com. 2019).
Conclusion and Strength
The management of the company has implemented proper strategies considering the
business model which is formulated by the business and therefore the reporting quality of the
same is ‘good’.
3. Value Framework Element: Governance
Report Extracts:
The board of directors of the business is responsible for maintaining the governance
standards of the business. The board is trying to make continuous improvement in the corporate
governance structure of the business. An extract which is presented below shows the extracts of
the governance strategies of the business

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(Page 33, Integrated report 2017/18)
Reporting Critique
The reporting critique for the reporting which is conducted is related to the governance of
the business are listed below:
 The corporate governance situation for the business is appropriately represented in the
annual reports pinpointing all weaknesses and issues.
 The responsibility and role to be played by the boards is effectively chalked out by the
management and shown in the statement.
Extensiveness and Accessibility
The corporate governance weaknesses which can be identified are shown in the annual
report. The business aims to follow the leading practice standards which are maintained as
recommended by the King Code of Governance. The board of directors follow their
responsibilities as per King IV principles stated and ensure that different committees are
maintained in the business.

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Comprehensiveness
The management of the company intends to follow the process of King IV principles for
effectively establishing corporate governance principles of the business Cheng et al.. The reports
of the different committees are being considered in the decision-making process of the business.
The corporate governance settings of the business is not appropriate at present scenario but the
management of the company is trying to make amendments to the same.
Conclusion and Strength
The corporate governance principles of the business need significant improvements
which needs to be done and the roles of different committees and even the boards of directors
need to be properly arranged. The business has not specifically stated the governance
requirements of the business. Therefore, the quality of reporting for corporate governance is
‘bad’.
4. Value Framework Element: Risk Management
Report Extracts:

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(Page 39, Integrated report 2017/18)
The risk management framework is the responsibility of the senior management of the
business and the same formulates effective strategies for the purpose of ensuring that the
negative impacts of the risks in the business is minimized. The business has its own risk
management committee which looks after the risks which is faced by the business.
Reporting Critique
The reporting critique which is followed under this criterion as consistent with the PwC
framework of reporting and some of the features of the same are listed below in details:
 The risks which are related to the business are identified on the basis of the area of
performance of the business.
 The risks are identified and impacts of the same are discussed in details in the annual
report.
Extensiveness and Accessibility
The risk management policy of the business is appropriate and the same is covered in
Page 39 of the annual report of the business. The discussion identifies certain risks which affects
different segments of the business.
Comprehensiveness
In order to manage the risks of the business, the company undertakes internal audits and
also applies proper risk management framework for the purpose of ensuring that the risks which
are related to the business are managed in an appropriate manner.

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Conclusion and Strength
The major risks which are faced by the business is related to changes which might tke
place in climate and some of the major aspects which are reported by the business in the annual
report are regulatory compliance, safety management, environmental compliance, reputation
management, operational efficiency, and project and financial risk management. In an overall
analysis, the quality of reporting for risk management can be deemed to be ‘good’.
5. Value Framework Element: Remuneration
Report Extracts:
(Page 68, Integrated report 2017/18)

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The human resource committee of the business, recommends the annual remuneration
which is to be provided to the executive and non-executive directors of the business. The
remuneration policy which is applied by the management has a direct impact on sustainability,
policies, profitability of the business as a whole.
Reporting Critique
The reporting critique for remuneration policy of the business shows the following
characteristics:
 The reporting framework of the business reveals the process through which remuneration
of the employees and directors are finalized.’
 The business also provides appropriate disclosures regarding the remuneration of the
business.
Extensiveness and Accessibility
The remuneration policy which is applied by the management of the company is
appropriately shown in Page 66 which shows the salaries, wages which is payable to the
directors and employees of the business. All the directors and employees of the business are
entitled to remuneration following the recommendation of human resource committee.
Comprehensiveness
The annual report contains a recommendation section which appropriate shows the
remuneration break-up in terms of salaries and wages of the business and also discloses quality
information regarding the policies of the business. The report also provides an opportunity for
comparing the remuneration of the business.

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Conclusion and Strength
The remuneration policy of the business is appropriately chalked out by the management
of the company and the same is also disclosed on page 66 of the annual report of the business.
The overall reporting for remuneration of the business is shown to be ‘good’.
6. Value Framework Element: Financial Assets
Report Extracts:
The company has the tendency of classifying its financial assets in terms of loans and
receivables and the process of classification depends on the purpose for which the financial asset
was acquired in the first place. The directors have an important role in recognizing the financial
assets of the business and re-evaluate this designation at each balance sheet date.
(Page 29, annual report 2017/18)
Reporting Critique
The reporting critique for financial assets showing its characteristic are listed below:

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 The financial assets of the business are properly identified and classified.
 The impact of financial assets on the financial health of the business considering the
nature of the asset.
Extensiveness and Accessibility
The financial assets reporting is done in the annual report of the business and the same is
shown in Page 28 of the annual report. The financial assets of the business are recognized in the
form or either loans or receivables of the business.
Comprehensiveness
The company is engaged in the business of managing airline traffic in the country and
considering the nature of the business and therefore, the management needs to maintain control
over the reporting framework which is applied for financial assets and liabilities of the business.
Further the same is also shown in the notes to account section of the financial reports of the
business.
Conclusion and Strength
The reporting framework which is used for financial asset and liabilities of the business
are limited and not much details are provided by the management of the company. Therefore, the
reporting quality for financial assets of the business is ‘ugly’.

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7. Value Framework Element: Physical Assets
Report Extracts:
(Page 26, annual report 2017/18)
The physical assets of the business refer to the tangible assets which is shown in the
above chart in an appropriate manner. The physical assets of the business mainly comprise of
equipment and different system which is used by the business (Zhang and Andrew 2014). The
management of the company uses straight line method of depreciation for charging depreciation
of the business.

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Reporting Critique
The reporting characteristics considering the PwC framework of reporting for physical
assets are:
 Proper representation of the tangible assets of the business in the balance sheet of the
company and the same also involves presentation of current assets.
 The book value of the assets and respective depreciation charges is also shown in the
notes to account section of the annual reports of the business.
Extensiveness and Accessibility
The physical assets of the business are properly treated in the financial statements which
is prepared by the business and also proper disclosures relating to the same is shown in the notes
to accounts section of the financial statements. The disclosures relating to physical assets of the
business ate shown on page 68 of the annual report.
Comprehensiveness
The reporting requirement of the fixed assets relating to the business equipment are
properly shown in the annual reports. In addition to this, the notes to account section of Air
Traffic Navigation Service Ltd contains details regarding the depreciation charges and
impairment charges of the business. Further the assets which are not in use or have expired are
also shown.
Conclusion and Strength
The management of the company has appropriately shown all the physical assets in an
appropriate manner and in-depth presentation is shown for the physical assets of the business.

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The same is shown to be good in terms of reporting and therefore meet the expectations of the
shareholders.
8. Value Framework Element: Customers
Report Extracts:
The reporting framework of the business does not cover much information regarding the
target segment which the business would be targeting. However, the annual report of the
business shows that the services which is provided by the business are customer centric. The
revenue of the business is recognized when the rewards and risks associated with the business is
transferred to the customers and the same can be measured reliably by the business.
Reporting Critique
The characteristic of the PwC framework element of Customers are:
 The customer information for the business ate not much covered in the annual report or
the integrated report of the business.
Extensiveness and Accessibility
The reporting area for the customers are not shown in the appropriate manner and the
major information relating to the client is not covered in the annual report of the business. The
main activities of the business are related to flight maintenance and air traffic control.
Comprehensiveness
The annual report of the business appropriately identifies the strategies and framework
which is used by the business for the purpose of appropriate reporting for the services which is
provided by the business. The analysis does not show anything regarding the customer
satisfaction level of the business.

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Conclusion and Strength
The reporting for a customer segment has not been shown in an appropriate manner in the
financial statements and therefore the quality of reporting of the same is ‘ugly’.
9. Value Framework Element: People & Culture
Report Extracts:
The management of the company appropriately follows appropriate reporting framework
for the purpose of reporting people and different cultures and the recruitment policies which is
followed by the management of the company.
(Page 102, Integrated report 2017/18)

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Reporting Critique
The features of reporting for people and diversity are shown below:
 The employees of the business are managed by promoting equal pay, good remuneration
strategy and helps in maintaining skills of the employees of the business.
Extensiveness and Accessibility
The reporting regarding the human resources of the business is covered under page 102
of the integrated report. The management of the company has formulated appropriate polices for
maintaining gender diversity in the business and also promotes equality in the operations of the
business.
Comprehensiveness
The annual report does not provide clear information regarding the employee force and
the diversity which is employed in the business but some information regarding the internal
policies of the business is shown by the management of the company.
Conclusion and Strength
The reporting requirements as per the PwC framework is not complete and thereby it can be said
that appropriate details have not been provided regarding the cultures of the business. The
quality of the reporting for people and culture aspect can be regarded as ‘bad’.
10. Value Framework Element: Innovation G&S
Report Extracts:
The management of the company focuses on maintaining continuous development
standard in the business and thereby the focus of the management of the company is on
innovation and development of the business processes.

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(Page 100, Integrated report 2017/18)
Reporting Critique
The characteristic for reporting which is followed as per the PwC framework for the
purpose of innovation are listed below:
 Identification of innovative practices of the business and policies of the business.

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 Changes and positive impacts associated with such an innovation.
Extensiveness and Accessibility
The annual report of the business provides detailed information regarding the information
which is to be significant for innovative practices in the operations of the business (Junior, Best
and Cotter 2014). The innovative activities of the business are further promoted by research units
and training units which are established by the management.
Comprehensiveness
The report provides appropriate information regarding the innovative model which is
applied by the management of the company for the purpose of reporting different strategies
related to the business.
Conclusion and Strength
The business of Air Traffic Navigation td has perfectly reported activities of innovation
in the annual reports and integrated reports and this would help the business to generate
competitive advantage or the business. The reporting framework for Innovation G&S is ‘good’.
11. Value Framework Element: Brands and Intellectual Assets
Report Extracts:
The intangible assets or the business and even the intellectual properties for the business
is considered to be more important considering the nature of the business. The business focuses
more of developmental activities and use of more modern resources for supporting the operations
of the business.

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(Page 100, Integrated report 2017/18)
Reporting Critique
The reporting characteristics which is followed for intellectual assets and brands of the
business are shown below:
 Effective utilization of intangible assets of the business.
 Building up proper brand image and reputation among the customers.
Extensiveness and Accessibility
The intangible assets section which is provided in page 100 of the annual report of the
business and the business has research and development activities of the business. The intangible
assets of the business are shown in the balance sheet of the company and the same is also
appropriate covered in the notes to accounts of the business. The intangible assets of the
company are equipment and software.

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Comprehensiveness
The annual report of the business does not provide appropriate disclosures when it comes
to intellectual property. The report has detailed explanation for the intellectual property of the
business. The business has provided appropriate disclosures in the financial statement of the
business.
Conclusion and Strength
The annual report of the business provides appropriate disclosures regarding the
intellectual property of the business. The disclosure of the business could have more presentation
and numerical and therefore the same can be deemed to be ‘bad’.
12. Value Framework Element: Processes and Supply Chain
Report Extracts:
The annual report for the business does not show appropriate information relating to
supply chain management and it is further stated that the business does not have a proper supply
chain management in the organization.
Reporting Critique
The key feature for reporting of process and supply chain element is shown below:
 Identifying the internal processes and supply chain strategies of the business.
Extensiveness and Accessibility
The supply chain policies of the business have not been properly shown in the annual
report of the business. The management of the company is trying to make improvement in the
strategies which are formulated by the business.

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Comprehensiveness
The supply chain process of the business is inefficient as per the annual report of the
business and therefore proper strategies needs to be implemented for making improvements in
the same.
Conclusion and Strength
The supply chain management of the business has not been properly reported in the
annual report of the business. The quality of the reporting for supply chain of the business is not
appropriate and therefore deemed to be ‘ugly’.
13. Value Framework Element: Operational Performance
Report Extracts:
(Page 119, Integrated report 2017/18)

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Reporting Critique
The reporting critique for operating performance of the business which can be stated are:
 Service quality of the business.
 The cost segregation of the products which the business offers represented with the help
of KPIs of the business.
Extensiveness and Accessibility
The operational activities of the business are managed by the board of directors of the
business. The operational structure of the business appropriate considers the of the business also
plays an important role in taking major decisions relating to the business.
Comprehensiveness
The reporting which is undertaken on operational performance of the business is not
appropriately shows as some of the major portions are not covered which have an impact on the
quality of reports which is prepared by the business.
Conclusion and Strength
The reporting is incomplete and there is no separate heading provided for explaining the
operational performance of the business and thereby the quality of reporting is considered to be
‘bad’.

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14. Value Framework Element: Economic Performance
Report Extracts:
(Page 28, annual report 2017/18)
Reporting Critique
The reporting framework characteristic for economic performance of the business are:
 Economic performance of the business disclosures and reporting regarding the same in
annual report.
 Financial ratio analysis.

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Extensiveness and Accessibility
The economic performance of the business can be judged from the financial statements of
the business especially the profit and loss statement which is prepared by the management of the
company.
Comprehensiveness
The economic performance of the business is appropriately shown in the reports which is
prepared by the management of the company and also the same shows revenue and expenses of
the business during the period.
Conclusion and Strength
The economic performance is appropriately represented in the financial statements and
the quality of reporting is shown to be good as detailed explanation is provided by the business.
15. Value Framework Element: Social
Report Extracts:
The business of Air Traffic Navigation systems ltd is a business which has a business
model based on sustainability and social benefits. Further, the business is dedicated to limit fuel
utilization and also monitor the climatic changes which are taking place in the business.
Reporting Critique
The reporting critique for the framework is listed below in details:
 The activities which are undertaken by the management of the company for the benefits
of the society and sustainable practices in the business/

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Extensiveness and Accessibility
The business puts great emphasis on corporate responsibilities and effective management
of sustainability practices in the business. The steps which are taken by the management of the
company for welfare of the employees and society as a whole is appropriately shown.
Comprehensiveness
The annual report of the business effectively points out the steps which needs to be
followed by the management for ensuring that sustainability practices are followed in a business.
Conclusion and Strength
The CSR responsibilities of the business are appropriate and outlined in the report in
details which shows that the business has maintained quality in reporting of the business.
Therefore, the reporting framework which is applied is ‘good’.
16. Value Framework Element: Environmental
Report Extracts:
The business of Air Traffic Navigation system for the business is shown to be appropriate
in terms of environmental compliance of the business. The nature of the business is to maintain
air traffic and therefore atmosphere pollution and climatic changes are major concerns for the
business.
Reporting Critique
The features for environmental performance as per PwC framework is:
 The procedures which the company undertakes in order to control environmental impacts.

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Extensiveness and Accessibility
The reporting framework which is disclosed by the management of the company pays
special attention to activities which can affect the environment.
Comprehensiveness
The reporting for the business in terms of environmental activities are properly shown in
the annual report of the business and the same involves air pollution, climatic changes which is
affecting the environment as a whole.
Conclusion and Strength
The reporting framework for environmental activities considering PwC framework is
appropriate and thereby it can be said to be ‘good’.

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17. Value Framework Element: Segmental
Report Extracts:
(Page 74, annual report 2017/18)
Reporting Critique
The characteristic of the segmental reporting as per PwC framework is
 Performance of the segments of the business along with marketing segments.

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Extensiveness and Accessibility
The accessibility of the segments is quite easily available from the annual reports of the
business and the information is covered in an appropriate manner.
Comprehensiveness
The segments which are covered includes market segments and the segments which
generated maximum revenue for the business.
Conclusion and Strength
The reporting for the different segments are of ‘good’ quality as shown in the annual
report of the company.

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