THE NON-FINANCIAL REPORTING-THE STORY BEHIND THE NUMBERS

Bobitan Roxana-Ioana and Stefea Petru
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Bobitan Roxana-Ioana: FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, WEST UNIVERSITY OF TIMISOARA
Stefea Petru: FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, WEST UNIVERSITY OF TIMISOARA

Annals - Economy Series, 2017, vol. 3, 94-100

Abstract: Reporting is a part of the life of companies, an essential business management tool. In a free market system, in order to make rational rational and informed decisions, the organisations must provide information as per stakeholders need. The disclosure must be public, accurate, timely, understandable, complete and objective. Annual reports are used by the companies in order to communicate information your stakeholders. These reports contain information specified by the relevant company’s legislation, most often based on financial information which cannot to provide sufficient information to potential investors in order to make a correct investment decision. Because shareholders want clearer information and “right to know” takes precedence over risk to the corporation, cost and inconvenience, a new form of corporate reporting is emerging to overcome the limitations of to day’s reporting model. A new form of corporate reporting is emerging to assist organisations to tell their story. The next step in the journey is to incorporate key performance indicators and the forward-looking informations. The journey to better business reporting is continuing with new directiveadopted The EU Parliament. The aim of this discussion paper is to describe this new directive, European Directive 2014/95/EU on disclosure of non-financial and diversity information in order to ensure that large public interest entities in Europe provide a comprehensive and meaningful view of their position and performance, its scope of application and also analyses the likely impact of the Directive, what should be disclosed according this.

Keywords: Corporate reporting; non-financial reporting; financial reporting; integrated reporting (search for similar items in EconPapers)
Date: 2017
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