The ‘OBJECTIVE’ of IFRS 1 is to Ensure that an Entity’s first IFRS financial statements, and its Interim financial reports for part of the period covered by those ‘Financial Statements‘, contain high quality information that: IFRS 1 Effective Date An entity shall apply this IFRS if its first financial statements are for … Read More
The Concept PESTEL Analysis Example(s) STATES it is a ‘structured approach‘ to analyzing the External Environment of an entity. The influences (current influences and possible future influences) of the environment on the entity are grouped into categories. PESTEL Analysis There are SIX categories of environmental influence: PESTEL Analysis Example(s) – … Read More
The Concept Stakeholder Expectations Examples STATES that each stakeholder or stakeholder group has different expectations from a company. They expect to benefit from their association with the company and the benefits they expect are different. Stakeholders According to ‘Traditional View of Corporate Governance‘ these are: Stakeholder Expectations Examples – Explained … Read More
Intended Strategy Examples DEPICTS ‘Intended Strategy‘ is a strategy that is planned in advance through a formal planning process. Intended Strategy – Definition ‘Intended Strategy‘ is a strategy that is planned in advance through a formal planning process. The choice of strategy is a conscious decision by Senior Management. Intended … Read More
What is the Purpose of a Mission Statement a Concept that STATES ‘Mission‘ is the purpose of an organisation and the reason for its existence. What is the Purpose of a Mission Statement? (6 Key Purposes) A ‘Mission Statement‘ can have SEVERAL different purposes:
Vision and Mission Statement a Concept that STATES ‘Vision’ Represents a desired optimal future state of what the organisation wants to achieve over time; AND ‘Mission’ is the purpose of an organisation and the reason for its existence. Vision and Mission Statement of the Organization – (Including Examples) 1. Vision … Read More
IFRIC 16 DESCRIBES Hedges of a Net Investment in a Foreign Operation, and STATES that the Presentation Currency does NOT create an exposure, the hedging instrument May-be held by any entity, IAS 21 to be applied in respect of the hedged item. IFRIC 16 – Key Terms 1. Foreign Operation … Read More
Strategy Implementation in Strategic Management MEANS Implementing the chosen strategies i.e the 3rd Element of ‘Strategic Management’ by Johnson, Scholes and Whittington. Elements of Strategic Management Johnson, Scholes and Whittington STATE that Strategic Management consists of three Elements: Strategy Implementation in Strategic Management – Three Aspects It MEANS Implementing the … Read More
Strategic Choice in Strategic Management STATES Identifying different possible strategies that the entity Might adopt and Making a choice of the preferred strategies i.e 2nd Element of ‘Strategic Management’ by Johnson, Scholes and Whittington. Elements of Strategic Management Johnson, Scholes and Whittington STATE that Strategic Management consists of three Elements: Strategic Choice … Read More
What is Strategic Position STATES an Analysis or Assessment of the Strategic Position of the entity i.e the first Element of ‘Strategic Management’ by Johnson, Scholes and Whittington. Elements of Strategic Management Johnson, Scholes and Whittington STATE that Strategic Management consists of three Elements: What is Strategic Position? An ANALYSIS … Read More