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Business Report Virgin Australia Reporting Business Performance And Value - What if Money Was Meaningless.

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Organisations need accurate, timely, objective and concise information to make effective decisions. One way they can obtain such information is from a business report. This document can be defined as “an organised presentation of information to a specific audience for the purpose of helping an organisation achieve an objective” (Bowman & Branchaw, 1988, p. 12). While business reports share similar characteristics, they also need to be customised for their particular purpose. An informal report may be a brief summary while longer reports follow a more complex and formal structu...

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Question Preview:

Organisations need accurate, timely, objective and concise information to make effective decisions. One way they can obtain such information is from a business report. This document can be defined as “an organised presentation of information to a specific audience for the purpose of helping an organisation achieve an objective” (Bowman & Branchaw, 1988, p. 12). While business reports share similar characteristics, they also need to be customised for their particular purpose. An informal report may be a brief summary while longer reports follow a more complex and formal structure. Informal reports may feature: • letter or memo format • minimal use of headings and visual aids • personal pronouns and contractions • a length from a few paragraphs up to five pages • content primarily for internal audiences More formal reports however tend to have: • a more standard format organised into separate sections • front and back matter (sections) along with the body of the report • a greater number of headings (including subheadings) and visual aids • third person pronouns and no contractions or slang • a length from five pages to several hundred • content designed for internal and/or external audiences Please download the attached file.

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It is required by the current IASB Conceptual Framework for Financial Reporting that the financial reports of the companies be mandatorily presented in financial terms. However, it remains that the money is not backed by any real value since October 1976. every $100 of foreign exchange transactions in A$ roughly only A$1 is traded for real goods and services, and the central banks in the so-called ‘developed’ western countries have, since the Global Financial Crisis in 2008, pumped trillions of $ into the monetary system to avoid the collapse of financial institutions. These concerns have directed us to research and present a business report, which explains the way that the current IASB Conceptual Framework for Financial

Reporting compels the companies towards reporting in monetary terms, includes a draft a qualitative section that can be integrated in the company’s annual report that depicts the performance of the company as well as its value creation in non-monetary terms, and recommendations on the way that the organisation can offer increasingly consequential reports to the stakeholders. The report is the initial step towards searching the alternative ways to report the value creation and performance.

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