What can the OFR initiative achieve?

Article Abstract:

An operating and financial review (OFR) is to provide a balanced and comprehensive analysis of the past, current, and future development of the business, prepared so as to enable the members of the company to assess the strategies adopted, and the potential for those strategies to succeed. The OFR emphasizes the need for directors to think and manage in this broader context and report accordingly the capacity to enhance corporate performance.

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Confusion reigns over AN G

Article Abstract:

Controversy over the Application Note G, the statement on revenue recognition, among the accountancy profession continues and the major concern is that it would bring forward profits, meaning an earlier tax hit for accountancy and other professional firms. The ICAEW has promised to issue guidance on the rule for revenue recognition at professional firms, by the end of March 2006.

United States, Legal issues & crime, Government regulation (cont), Government regulation, Legal/Government Regulation, Reporting & Disclosure, Laws, regulations and rules, Financial statements

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Forecasting: Time to come out of the shadows

Article Abstract:

The objectives of accurate forecasting in business are discussed. Accurate forecasting capabilities are useful for improving effectiveness in behavior and process and for achieving improved overall performance for the business.

Financial Forecasting, Forecasting, Business forecasting

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