While reading the 2017 annual reports of CBA and NAB, I came across certain things which makes the ineffective communication of the above stated annual reports, this leads to more time taken by me in analyzing the reports. These lacking principles of effective communication are as below ("Snapshot: Disclosure InitiativePrinciples of Disclosure", 2018):
Free from unnecessary duplication – the information presented should be free from duplicated information, so that the investors can keep an eye on the important information without wasting much of their time. However, in the given annual report there are lots of information which are duplicated or unnecessary, for example, the report of directors which is 54 pages long and does not contains much required information, this report can be ignored and the management should provide only the relevant information without providing the whole report. Similarly, the management has provided the full remuneration committee report without giving its synopsis or summary. These reports can be ignored and only meaningful summary can be provided.
Organized to highlight important matters – The information presented should be well presented and organized so that the information can be easily read. However, the stated annual reports lacks on this area. The information presented does not contain proper headers specifically in financial reports and the reports are also not in good sequence. Notes are not in proper sequence and are not properly numbered.
Clear and simple – The presented information can be made simple and more understandable with the help of pie charts and graphs, as these pie charts and graphs are more easily understandable and has a long lasting impact on the users. However, in the annual report of NAB, this graphical presentation is missing.
In the annual report of CBA (Commonwealth Bank of Australia) ("Annual Report 2017", 2018)
Free from unnecessary duplication – Similar to above, the annual report of CBA also contains some unnecessary information. For example, the financial statements contains the details of year ended on 30 June 2015 as well. Whereas the companies are required to present the information for one comparative year only i.e. the CBA is required to present the information for year ended 30 June 2017 and 30 June 2016 only.
In an appropriate format - The information presented should be in an appropriate and common format prescribed. However, the income statement presented is not in the format as prescribed by Australian Accounting Standard Board. As per the prescribed format, the income statements should first contain the details of all revenues then all expenses and then should present the profit. Whereas, the company has not presented this in the above stated format. Similarly, the balance sheet is also not in the appropriate format and does not contains details as regard to current and non-current bifurcation.
Comparable – The information presented should be comparable with the information of companies in the same industry, so that the investors can compare the financial information of various companies and can take their investment decisions. Since, the presented information is not in the appropriate and prescribed format, so it makes the information of CBA incomparable with the information of other companies.
Clear and simple – The information is not simple and clear by its presentation as the notes are not in the proper format and sequence. The noted should start from the details of income statements and should end with the derivative instruments and other additional information. Whereas this is not the case in the presented annual reports.
My two biggest suggestions in these annual reports are as below:
Clear and simple presentation – The information should be clearly presented with proper sequencing and added graphical presentations. More and more graphical presentations should be used as it gives a clear picture of the details to be presented.
Appropriate format – The format used for preparation and presentation of financial information should be correct and should adhere with the requirements of relevant AASBs. As the AASBs prescribe the common format and these common formats help the investors to compare the information for various companies with one another and helps in taking the decisions as to which company they need to make the investment.
Snapshot: Disclosure Initiative—Principles of Disclosure. (2018). Retrieved from https://www.ifrs.org/-/media/project/disclosure-initative/disclosure-initiative-principles-of-disclosure/discussion-paper/education-materials/principles-of-disclosure-snapshot-2017.pdf?la=en&hash=46F7C67CABF7B5CE758F9FF2BB8AFECC3C41338C
Annual Financial Report 2017. (2018). Retrieved from https://www.nab.com.au/content/dam/nabrwd/About-Us/shareholder-centre/documents/2017-annual-financial-report.pdf
Annual Report 2017. (2018). Retrieved from https://www.republicast.com/CBA01/2017/CBA01/7dc72817b6424c698aa1cf78342b7bf4/2017%20Annual%20Report.pdf
Earn back money you have spent on downloaded sample
To export a reference to this article please select a referencing stye below.
Assignment Hippo (2022) . Retrive from https://assignmenthippo.com/sample-assignment/effective-communication-annual-reports-cba-assessment-answer
"." Assignment Hippo ,2022, https://assignmenthippo.com/sample-assignment/effective-communication-annual-reports-cba-assessment-answer
Assignment Hippo (2022) . Available from: https://assignmenthippo.com/sample-assignment/effective-communication-annual-reports-cba-assessment-answer
Assignment Hippo . ''(Assignment Hippo,2022) https://assignmenthippo.com/sample-assignment/effective-communication-annual-reports-cba-assessment-answer accessed 24/05/2022.
Talk to our expert to get the help with Effective Communication Annual Reports Cba Assessment Answers from Assignment Hippo Experts to complete your assessment on time and boost your grades now
The main aim/motive of the finance assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignment help Australia. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks.Â The experts of the assignment help services at www.assignmenthippo.com are so much skilled, capable, talented, and experienced in their field and use our best and free Citation Generator and cite your writing assignments, so, for this, they can effectively write the best economics assignment help services.
Want to order fresh copy of the Sample Effective Communication Annual Reports Cba Assessment Answers? online or do you need the old solutions for Sample Effective Communication Annual Reports Cba Assessment Answer, contact our customer support or talk to us to get the answers of it.Assignment Help Australia
Want to order fresh copy of the Effective Communication Annual Reports Cba Assessment Answers? online or do you need the old solutions for Sample Effective Communication Annual Reports Cba Assessment Answer, contact our customer support or talk to us to get the answers of it.
Our motto is deliver assignment on Time. Our Expert writers deliver quality assignments to the students.
Get reliable and unique assignments by using our 100% plagiarism-free.
Get connected 24*7 with our Live Chat support executives to receive instant solutions for your assignment.
Get Help with all the subjects like: Programming, Accounting, Finance, Engineering, Law and Marketing.
Get premium service at a pocket-friendly rate at AssignmentHippo
I was struggling so hard to complete my marketing assignment on brand development when I decided to finally reach to the experts of this portal. They certainly deliver perfect consistency and the desired format. The content prepared by the experts of this platform was simply amazing. I definitely owe my grades to them.