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Volume : I, Issue : VII, August - 2011 CORPORATE REPORTING PRACTICE IN GLOBALISED SCENARIO Dr. C.M. Thakkar, Published By : Laxmi Book Publication Abstract : Accounting is a process to identify measurer and communicate
economic information to permit informed judgments and decisions by the
user of the information. Its function is to provide quantitative information,
primarily financial in name, about economic entities, that is intended to be
useful in making economic decisions and related choice among alternative
course of action. Financial reporting may be defined as communication of
published financial statement and related information from a business
enterprise to all users. It is the reporting of accounting information of an
entity to a user or group of users. It contains booth qualitative and
quantitative information.
With the rapid change in the economic and industrial scenario, the
role of accounting has also been changed over a period of time. Accounting
Activity is no longer confined to the historical description of financial
activities rather it is now being regarded as service activity i.e. providing
information to various user groups. The user groups are management,
employee, investors, trade unions, tax authorities, creditors, competitors,
public etc. The Financial report made to the insider group is generally
known as internal reporting, while made to the outsider groups is known as
eternal reporting. Keywords : Article : Cite This Article : Dr. C.M. Thakkar,, (2011). CORPORATE REPORTING PRACTICE IN GLOBALISED SCENARIO. Indian Streams Research Journal, Vol. I, Issue. VII, http://oldisrj.lbp.world/UploadedData/387.pdf References : - Pramanik A.K. and Gurusamy S. Corporate Accounting and Financial Analysis, Kanishka Publisher, Distributors, New Delhi, 2000.
- Jawahar lal, Contemporary Accounting Issues, Vision Books, New Delhi, Third Edition.
- Indian Journal of Accounting.
- Indian Journal of Finance
- Annual reports of the selected companies for the year 2006-07
- Van Horne, James C. Financial Management and Policy, Prentice – Hall of India Publications ltd. New Delhi, Twelfth Edition
- 7, Wadhwa Raj. K.Davar Jimmy, Rao Bhaskar P., Management Information System and Corporate Communication, Kanishka Publishers, Distributord, New Delhi, 2002.
- www.corporatereporting .com
- www.iraasa.com
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