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KPMG Annual Reporting Model

KPMG has posted an updated version of its differential reporting Model Annual Report 2003 on the Web, as a toolkit for businesses producing their annual reports.

www.kpmgmodels.co.nz is one of the most popular guides of its kind and is a free-to-access model annual report in html format. The tool has been widely used by both small- and medium -sized entities companies and organisations wanting to apply differential reporting, as well as larger entities which prepare full GAAP accounts.

The site uses fictional companies – ClearCut Limited a company which qualifies for differential reporting) and Diverse Group Limited (listed on the New Zealand Stock Exchange) which provide real life models for businesses to follow when preparing their own annual reports.

Features of the updated ClearCut and Diverse sites include:

Commentary on where financial reporting is heading An overview of the changes to financial reporting standards in 2003 First time adoption of new standards A set of model financial statements, notes to those statements and reference to the corresponding financial reporting standards Examples of Chairman and CEO reports, governance statements and other regulatory disclosures required in an annual report A guide to analysts’ expectations in annual reporting The eight things that make a good annual report A timeline showing what is involved in producing an annual report A guide to triple bottom line reporting Links to other business and accounting sites around the world An option of joining KPMG’s financial reporting mailing list.

www.kpmgmodels.co.nz was initially launched in 2000. KPMG undertakes a major revamp of the site every year and in between continuously updates the site with the latest financial material.

Over the past year www.kpmgmodels.co.nz has received about 700,000 hits from over 40 countries around the world.

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