Question

• What are the perceived benefits of simplifying financial reporting requirements?
• In your professional and personal experiences, what advantages do you see from making the financial statements more accessible and less complex?

Answer 1

What are the perceived benefits of simplifying financial reporting requirements?: Financial Reporting always flashed with requirement which leads to better presentation of transactions, Better information and above the all transparency in the financial Statement which leads to informed decision making for the investors and the other stakeholders.

Another Benefit is Comparision, Uniformity and able to take investing decision.

In your professional and personal experiences, what advantages do you see from making the financial statements more accessible and less complex?:

When the financial Statement os more accessible and Less complex, Understanability of particular area , Further obligation can be easily interpreted.

Helps in Making Investing decision, Helps in determining the furtehr Revenue required to be genrated

Helps in setting target for coming fututres.

If the performances is not as per expectations then restructing or merging options can be taken care off.

With Less complexity and easy accessibility helps to meet the statutory reporting compliances on timely basis , More complex requires more time to present the data as per the statutory requirements.

Crux is simple, simple presentation leads to be more informative and easily accessible.