Rural Micro Entrepreneurship

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Integrated Reporting:
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A one step ahead towards Corporate Reporting
*Dr.Manisha S.Bhatt,

Abstract:
The annual reports are long and are getting longer. But, because reporting has evolved in separate, disconnected strands, critical interdependencies between strategy, governance, operations and financial and non-financial performance are not made clear. To provide for the growing demand for a broad information set from markets, regulators and civil society, a framework is needed that can support the future development of reporting, reflecting this growing complexity. Such a framework needs to bring together the diverse but currently disconnected strands of reporting into a coherent, integrated whole, and demonstrate an organization’s ability to create value now and in the future. Integrated Reporting brings together the material information about an organization’s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it operates. It provides a clear and concise representation of how an organization demonstrates stewardship and how it creates value, now and in the future. Integrated Reporting can reduce the reporting burden on organizations while improving investors, and other stakeholders, insight and understanding.

Key words:
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Integrated reporting, Corporate Governance, Corporate reporting

*Dr.Manisha S.Bhatt, Assistant Professor, C.Z.Patel College of Business and Management, Vallabh Vidyanagar

Introduction:
Now a day’s start the era of convergence in corporate reporting. Traditionally company reporting primarily consists of financial information of the organisation. The balance sheet, Income statement and the accompanying directors’ report together outline the company’s performance. In the past decades a shift has occurred in how companies report on the impact they have on their stakeholders. Companies started to explain their impact on the environment and wider society in Corporate Social Responsibility reports and a growing number of companies are now following their example. Over the last decade corporate social responsibility reporting has grown significantly – from 35 percent in 1999 to 80 percent of the companies listed in the Global Fortune 250 in 2008. Over the last years, a selected number of companies have started to integrate corporate social responsibility reporting into the annual report. An Integrated Report displays an organization’s stewardship not only of financial capital, but also of the other capitals like.. manufactured, human resource, intellectual, natural and social, their interdependence and how they contribute to success. This broader perspective requires reflection of resource usage and risks and opportunities along the organization’s full value chain. Long and complex reports are often impenetrable for many readers. The main aim of integrated reporting is to simplify the primary report so that it covers, concisely, only the most material information Integrated Reporting:

Integrated Reporting brings together the material information about an organization’s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental situation within which it operates. It provides a clear and concise illustration of how an organization demonstrates stewardship and how it creates value, now and in the future. Integrated Reporting combines the most material elements of information currently reported in separate reporting strands like.. financial information, chairman and director reports, corporate governance and remuneration, and sustainability in a coherent whole, and importantly shows the connectivity between them and explains how they affect the ability of an organization to create and sustain value in the short, medium and long term. Integrated Reporting reflects...
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