Manage Budgets and Financial Plans ntroduction
In this project, I will analyze the financial reports of commonwealth bank Australia.
1. To whom is this report disseminated and how this will be done?
This report will be disseminated to;
* Board of directors
This will be done in any of the following ways;
* Through E-mail
* Through post
* Through newsletters
* Through publishing on website
2. Why do these people need information contained in annual report? There are various reasons that this report to be presented to above mentioned people; 1. Management:
It is the management of any organization which is responsible for planning strategies, developing operational plans and plan for future business, so management should know the performance of organization. 2. Shareholders:
As shareholdrs are the only source of funding for any business so annual reports must be presented to them.So they know their business and keep investing confidently. 3. Investors:
Annual reports help investors to decide whether it is safe to invest in any business or not. 4. Creditors:
The creditors need to know annual reports as to decide providing funds for smooth operations of business. 5. Board of Directors:
Because the board of directors of any organization make all important relevant decisions for the future of organization. 6. Employees:
Annual reports keep employees motivated when they know that their efforts for organization are fruitful. 7. Government:
Government needs to know whether tax is being paid or not and also if legal procedures set by government are followed or not. 3.
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