Question

Different administrative cultures have differing views on the use of online financial reporting. Explain.

Answer 1

At a time and age when enterprises are increasingly seen as critical components of the social system, they are accountable not merely to their shareholders from a revenue and profitability perspective but also to the larger

society which is also its stakeholder. Hence, adoption of responsible business practices in the interest of the social set–up and the environment are as vital as their financial and operational performance. This is all the more relevant for listed entities which, considering the fact that they have accessed funds from the public, have an element of public interest involved, and are obligated to make exhaustive continuous disclosures on a regular basis.

Internet Financial reporting made easy to mostly every stakeholders. Every stakeholder get financial information of corporate on internet rather than physical visiting registered office.

It is a portal by which the organisation communicates a holistic view of:
• Its Current position
• Where it’s going And
• How it intends to get there
The report enables readers to make an assessment of the organisation’s ability to create value in the future, with value creation referring to the value created for both the organisation and for others. Which includes

A.GENERAL INFORMATION ABOUT THE COMPANY
B.FINANCIAL DETAILS OF THE COMPANY
1. Paid up Capital
2. Total Turnover
3. Total profit after taxes
4. Total Spending on Corporate Social Responsibility (CSR) as percentage of profit after tax (%).

Different Administrative cultures,views on the use of online financial reporting are:

• Enhancement of reputation and brand.

• Securing a social license to operate.

• Attraction and retention of high calibre employees.

• Improved access to investor market.

• Establish position as a preferred supplier.

• Aligning stakeholder needs with management focus.

• Creation of sound basis for stakeholder dialogue.