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The Accounting World Magazine:
Segmental Disclosures and Corporate Governance : The Road Ahead
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Good corporate governance promotes the well-being of all stakeholders. In addition to profits, which result from the symmetry between the stakeholders in the near term, balancing interests guarantee the organization's survival and growth in the long-term. A good corporate governance engenders good financial reporting, which results in the production of efficient segmental reports. This in turn facilitates good governance. Quality segment reporting protects investors and inculcates confidence in the company's performance by overseeing and assessing management's stewardship. Segmental disclosures are regarded as one of the most useful revelations of financial reporting.

 
 
 

Corporate governance espouses maximizing value to the shareholder in conjunction with being fair to all the other stockholders. They include customers, bankers, suppliers, employees, government and society at large.

Corporate governance practices mainly focus on corporate fairness, transparency and accountability in the companies' accounting policies, and are primarily concerned with ethical conduct of the businesses. Corporate governance in financial reporting favors substance over form. Good corporate governance facilitates the harmonization of interests of all the stakeholders. Large profits can be made by the advantage of this symmetry among the stakeholders in the short run and also balancing interests guarantee long-run survival and growth. Increased need for corporate governance demands good financial reporting, which results into the production of efficient segmental reports. Good segmental reporting in turn fulfils the need of corporate governance. Corporate reporting is the voluntary public presentation of information about an organization's non-financial performance—environmental, social and economic for a specific period, usually a financial year. The reporting of the results of separate divisions or subsidiaries of a business enterprise is "Segmental Reporting".

 
 
 

The Accounting World Magazine, Corporate Governance, Financial Reporting, Accounting Policies, Corporate Reporting, Business Enterprises, Segmental Reporting, International Accounting Standards Board, IASB, Global Capital Markets, Global Products, Indian Software Firms.