Critical assessment of annual report of Wm Morrison Supermarkets Plc

Topics: Corporate governance, Management, Board of directors, Morrisons, Annual report, Financial statements / Pages: 8 (1867 words) / Published: Mar 9th, 2014
Critical assessment of annual report of Wm Morrison Supermarkets Plc

Word count: 1711 words

Table of Contents

Introduction 3
1.0 Overview of the Annual Report of Morrisons 4
2.0 Performance and Strategy Review 4
3.0 Governance 7
4.0 Reliability of the Annual Report of Morrison 8
5.0 Conclusion 8
References: 9

Introduction
An annual report is a portrait of the business of a firm. In fact, it is the most important way for a company to disclose information to the public (Dainelli et al., 2013). Such information includes both financial and non-financial information, which might be quite useful for investors and potential investors of the company to make their decisions. Wm Morrison Supermarkets Plc (abbreviated as “Morrisons” below) is “the UK’s fourth largest food retailer by sale” (Morrisons, 2013). This report will use Morrisons as an example to make a critical evaluation of corporate annual report. There will be mainly four parts in this report. First of all, an overview of the annual report of Morrisons will be provided. On this basis, the second part will critically assess the section of “Performance and Strategy Review” of the annual report of Morrisons. The third part asses the section of “Governance”. Then, the fourth part will evaluate the reliability of the annual report of Morrisons. Finally, a conclusion will be given.

1.0 Overview of the Annual Report of Morrisons
The annual report 2013 of Morrisons includes 116 pages and comprises of mainly three parts, 1) performance and strategy review, 2) governance, and 3) financial statements. The first and second parts are mainly qualitative information while the third part is mainly quantitative information about the financial accounts of the company. This report focuses on the qualitative information of this annual report.

2.0 Performance and Strategy Review
This part is intended to provide investors with useful information about



References: Abraham, S. and Shrives, P. J. (2014) Improving the Relevance of Risk Factor Disclosure in Corporate Annual Reports, The British Accounting Review, In Press Corrected Proof, Available online 2 November 2013. Alves, H., Rodrigues, A. M. and Canadas, N. (2012) Factors Influencing the Different Categories of Voluntary Disclosure in Annual Report, The British Accounting Review, vol.10, no.1, pp.15-26. Ashcroft, P. (2012) Extent of Environment Disclosure by Annual Report, Advances in Accounting, vol.29, no.2, pp.279-292. Dainelli, F., Bini, L. and Giunta, F. (2013) Signaling Strategies in Annual Reports: Evidence from the Disclosure of Performance Indicators, Advances in Accounting, vol.29, no.2, pp.267-277. Lee, T. (1994) The Changing Form of the Corporate Annual Report, Accounting Historians Journal, vol.21, no.1, pp.215-232. Morrisons, (2013) Annual Report 2013, Available from: http://www.morrisons-corporate.com/investor-centre/Financial-reports/ [access date: January 28, 2014]

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