Usefulness of the annual report for investment decision making Essay

Usefulness of the annual report for investment decision making purposes - Essay Example Certain investors have gained knowledge in accountancy and they use the figures provided in annual reports before coming up with an investment decision. Others use information that is related to organization’s financial conditions and does not contain figures but only facts to make investment decisions. Annual reports and their structures have changed over time to facilitate both kinds of investors. Now annual reports contain information about profit and loss, cash flows and overview of the finances of organizations. The length of these reports has increased as the required number of details has grown. Annual reports contain statements provided by management (Bartlett 1997). All these kinds of information were not previously a part of annual reports. Investment decisions are not only based on analysis provided by management and directors of an organization; the profit and loss information provided through annual reports is superior while making investment decisions. These statements are highly important for those who are literate in accountancy. Individuals having literacy in accountancy are investment analysts who provide information to investors on how well a company has performed and how well it will perform in future, and through this analysis, investors make their investment de cisions. ... is characteristic of annual reports increased the uncertainty amongst investment decision makers because they had no idea how organizations would perform in future and what initiatives the organization would take to make the company operate successfully in future years. Due to lack of information about future activities, investment decision makers used to be dependant on old data and their confidence in their investment decision used to lack confidence in success. This led to the introduction of management’s statements within annual reports. In these statements management provides insights into what future steps the management is going to take to make the company successful in future. This information helped investors and investment decision makers make investments on the basis of future operations, and these investment decisions lacked uncertainty. For example, during 1996, a study conducted by Abrahamson and Amir (1996) proved that annual reports containing the presidentâ₠¬â„¢s letter are a useful insight for the investor trying to predict future performance of the organization. Similarly, a study conducted by Bryan (1997) states that the management of a company is required to disclose information about future operations through annual accounting reports of their organization, and these disclosures help investors in assessing whether the firm will make profit in future and align investment decisions accordingly. Information that profit and loss statements provide is quite limited, for example: Rogers and Grant (1997) argue that financial statements are limited to providing information regarding only one quarter of a company’s operational period. On the contrary, information provided by management gives insight into a longer period of time including past performance

The Trojan War Linked to Mythology Research Paper

The Trojan War Linked to Mythology - Research Paper Example This work compliments the rest of the work collected from the epic cycle, a reference of various ancient literature. The Trojan War is largely reflected in several of these stories. This paper pertinently discusses the Trojan War and its relation to myths. Analysis The central event, which is also mythological, is the cause of the Great Trojan War. Many accounts points on the existence of a conflict amongst the Greek goddesses. The conflict was based on partnerships and prophesies of the time. However, this was so staid to arouse a war that lasted about ten years. Most accounts place the conflict at the failure of Eris to attend the wedding of Peleus and Thetis, after being invited. However, the conflict seems to have sourced further. The unique thing about the marriage was the attributes of the involved parties. Thetis was a goddess while Peleus was a mortal. This did not augur well with the rest of the Gods, hence the existence of a resistance in preferences. It had been recorded t hat two of the most powerful gods were interested in the beautiful goddess and at some point had forced her to lay with them. The two, Zeus, and Poseidon had degenerated into bitter rivals as they sought Thetis’ hand in marriage. Amongst the driving factor behind this quest was a prophecy by Themis, (also referred to as Prometheus), over the child bored by a union with Thetis. He had stated that any son born from the union will exceed the greatness of his father. This statement was translated along various perceptions, in Zeus’ case implying that the son might eventuate into ruling Olympus. This possibility discouraged the quests of the two gods, and Zeus opted to marry the goddess to a mortal (Thomas, 56). This decision called for further scrutiny of the appropriate candidates that could suit the hand of a goddess. The opportunity was accorded to Peleus, who was described as the most worthy of the other mortals. The wedding was grandiose, with all gods and goddesses i n attendance, all except Eris. She (Eris) was associated with discord, hence was commonly referred to as Eris, the goddess of discord. She seemed not to assent to the wedding. Out of this fury, she threw a golden apple in the midst of the guests that had attended the occasion. The apple had on its inscription the phrase ‘for the fairest’. This brought rift in the whole event, putting in mind that the rest of the goddesses were in attendance, as well. The battle for the apple was left to the three fairest goddesses, Aphrodite, Athena and Hera. The decision at hand was so intense to be decided on the spot, or by either of the three. Therefore, the three chose an arbitrator to assist in the development of the final decision. The appropriate individual for the task was thought to be Zeus, putting in mind that he was the organizer of the risky wedding. Upon this consideration, the three goddesses sought his intervention in the making of the critical decision (Thomas, 67). Ho wever, Zeus was rather too wise to accept such an overwhelming and sensitive task; instead he relegated the task to Paris, who was officially referred to, as the prince of Trojan. This he directed Hermes to conduct, and the case was sent to Paris to arbitrate. The young prince was rather overwhelmed by the zealous goddesses, who proceeded to offer him a couple of gifts which he was to receive upon making favourable judgements. Athena proposed to make him a reputable Hero or eminent General that commanded honour across all generations. Hera based her bribes on