Essays on Understandability

I.0 Introduction The Farm Bank, just like any other organization must enhance its capabilities to be able to cope with the growing demands of the banking institution. While the top management came up with the right decision in adopting a new Management Information System (MIS), our analysis revealed that the managers should have made the decision after taking every aspect related to the new MIS (Ahmed and Omotunde, 2012) This is especially so in the banking industry where there are complex processes involved in the collection, analysis, summarization and presentation of valuable information that are needed for decision making. ...

Principles of Consolidated Financial Statement Acc to IFRS

Executive Summary International Financial Reporting Standards (IFRS) is governed by a set of principles, which came into effect in the year 2005, and determine how consolidated financial statements are prepared by holding companies residing in the EU. Consolidated financial statements are combined financial statements of both a holding company and its subsidiary. This research paper will focus on the principles that govern the creation and presentation of consolidated financial statements by individual company groups residing in the EU. Previous researches have postulated that presentation of financial statements in a consolidated form aids in creating outlook at both company levels i.e. holding ...