Should financial statement disclosures be greater? What are the pros and cons fo

Question

Should financial statement disclosures be greater? What are the pros and cons for the increased financial information being disclosed by public companies on their company's Internet websites? What are the pros and cons for increasing the information being supplied by companies in their segment reporting? What are the pros and cons for public companies increasing their disclosures of financial forecasts? Where would you find a company's financial forecasts? Have you found any company's disclosure of its financial forecasts that you would like to share with the class? How will the new IFRS proposed changes impact current U.S. company disclosures?

Explanation / Answer

yes financial disclosures should be greater.

Pros and cons for the increased financial information being disclosed by public companies on their company's Internet websites:

Pros

It is easy to get the financial information from interested parties. Some advantages of IFR are: information can easily access and download, can make a comparison between their ratio and more useful to the potential investor.

The information is easy to access. It saves time and cost. “The practice of IFR is useful for investor and financial analyst but the content should be accurate and comprehensive.

It is easy to get the financial information from interested parties. Some advantages of IFR are: information can easily access and download, can make a comparison between their ratio and more useful to the potential investor.

The information is easy to access. It saves time and cost. “The practice of IFR is useful for investor and financial analyst but the content should be accurate and comprehensive.

This can improve the accessibility of information that results in more equitable information dissemination. Others advantages of IFR from a previous study are that they are attractive for readers, easy to understand and save time in analyzing data . Basically, new technologies introduced like IFR need someone who has knowledge and experience to handle it. Thus brings the limitation to such according to the ways of implementation and compliance and the quality of the overall disclosure may be less effective.

Cons.

The IFR is exposed to unauthorized-access risk when it is not properly managed and then also leads to others to insert errors into the data files which can cause security problem . There are many critical changes since adopting IFR of corporate performance. Some of them are that it will incur some problems such as security problem and authentication, attestation and legal impediments and cost and expertise Several factors contribute to lower effectiveness in using financial reporting, for instance delay in published financial reporting in the current year, lack of trust and lack of adequate information in the credibility of the financial reporting and excessive risk exposures such as being easy to manipulate

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