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Discuss: "Arguably the Annual General Reports are a poor aid to economic decision making" By Catherine Syder "Arguably the Annual General Reports are a poor aid to economic decision making" The annual report is the most important way of communicating with the share-holders to let them know the financial situation of the company. It is also used by management and employees to help decision making about the strategic goals of the firm. The annual report usually consists of a Profit and Loss account and a Balance Sheet, but can also contain other reports and items of financial information that the users may find helpful. It is governed by the Accounting Standards Steering Committee to make sure that the Standard Accounting Processes (S.A.P.'s) are adhered to and there is the possibility of disciplinary action if these are not followed strictly. This is to standardise each company's reports and eliminate bias as much as possible. Specific...

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