Consolidated reporting – beyond financial statements
Consolidated reporting – beyond financial statements

Summary/Abstract: Annual reports are outdated. They inform users about the history of the company, past events and financial results of those events, but there is not any information about future, strategy directions, intangibles, intellectual capital, sustainability and social responsibility. To manage companies managers must use a lot of different sources of information and perceive financial reports as something that must be but is not necessarily useful. They search for in- formation they need and spend hours on searching, but not on managing. Professional bodies have noticed this problem and have started to search solutions. The most important part of those searches was to identify information needs of report users. Then the avalanche started and a lot of different reporting initiatives appeared on the market from The Balance Scorecard to Triple Bottom Line, from financial recommendations to non-financial reporting systems. Now managers can choose among those multi-dimensional reporting solutions, but still one thing is missing. Almost there are not any consolidation frames that would help to prepare one report for all kind of users apart from one report initiatives. The author has reviewed international literature to find factors which would help create reporting frames for one report in the nearest future.

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