Neutrality in MD&A, or: good but a little devilish?

At a recent meeting of the Accounting Standards Advisory Forum, the group discussed the ongoing Management Commentary project. Among the issues set out in the underlying agenda paper was the staff’s proposal “that the revised Practice Statement will describe how management could apply (various) aspects of neutrality that could alter a user’s assessments.” The concept…

Straight talk! More on character in financial reporting

Let’s return to our recent reflections on how an entity might manifest “character” in its financial reporting. The Canadian National Instrument 51-102F1 says in the second paragraph of its introductory section that the issuer’s objective when preparing an MD&A includes “openly reporting bad news as well as good news.” Of course, in corporate reporting as…

A better model, for disclosing the model

“FRC Lab report confirms the importance of business model disclosure to investors,” announces a recent news release: Here’s more: “The Financial Reporting Council’s (FRC) Financial Reporting Lab has published a report on Business Model Reporting which provides valuable insight for companies on the importance of business model information to investors, and the type of information they are…