Question

In: Accounting

When reporting, why is it necessary to provide evidence to support your statements or conclusions? Discuss...

When reporting, why is it necessary to provide evidence to support your statements or conclusions? Discuss in 80–100 words.

Solutions

Expert Solution

- WHEN YOU ARE REQUIRED TO PREPARE A REPORT ON ANY SPECIAL ISSUE, YOU NEED TO ANALYSE THE MATTER.
- ANALYSIS CAN BE BASED ON SOME CALCULATIONS, BASED ON COLLECTION OF SOME DOCUMENTS MAY BE PROVIDED BY THE MANAGEMENT OR BY OTHER PARTY, IT MAY BE BASED ON EXPERT ADVISE ETC.
- AFTER ENOUGH ANALYSES YOU REACH TO CONCLUSION.
- WHEN YOU PRESENT A REPORT OR GIVE YOUR CONCLUSIONS, IT BECOMES VERY NECESSARY THAT YOU SATISFY THE AUTHORITY ABOUT HOW YOU DERIVE THE CONCLUSION OR WHY YOU ARE ISSUING SUCH A REPORT.
- TO MAKE THEM SATISFIED ABOUT YOUR OPINION OR CONCLUSION, YOU HAVE TO SHOW YOUR WORKING AND SUPPORTING DOCUMENTS CALLED THE EVIDENCE BASED ON WHICH YOU HAVE DERIVED THE CONCLUSION ON THE SPECIFIC MATTER.
- SOMETIMES IT MAY HAPPEN THAT INFORMATIONS OR DOCUMENTS PROVIDED TO YOU WAS INCORRECT OR FRADULANT AND YOU HAVE SUBMITTED THE CLEAN REPORT OR GIVEN CONCLUSIONS BASED ON THAT. AFTERWARDS WHEN THE MATTERS GOT THE LIGHT THEN IT WILL BE CONSIDERED LIKE YOU HAVE PROVIDED WRONG OR FRADULANT REPORT
- IN SUCH CIRCUMSTANCES, TO PROVE YOUR SELF INNOCENT, YOU HAVE TO SHOW YOUR WORKING PAPPERS OR DOCUMENTS OR EVIDENCES PROVIDED BY THE PARTY FOR YOUR WORKING AND HAVE TO ESTABLISH THAT YOU HAVE MADE YOUR WORKING CORRECTLY BASED ON THAT DOCUMENTS WHICH WERE FRADULANT AND PROVIDED TO YOU INTENTIONALLY TO MISLEAD YOUR REPORT OR CONCLUSIONS.

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