Change Is Coming

REACTION PAPER

The article talks about the improvement of storing data or information for the integrated reports of an organization or companies. Integrated reporting is enhancing the way organizations think, plan and report the story of their business. Organizations are using Integrated Reporting to communicate a clear, concise, integrated story that explains how all their resources are creating value. Integrated Reporting is helping business to think holistically about their strategy and plans, make informed decisions and manage key risks to build investor and stakeholder confidence and improve future performance. It is shaped by a diverse coalition including business leaders and investors to drive a global evolution in corporate reporting. Integrated reports address the long term viability of the enterprise and accounts must draw upon a wide variety of qualitative and quantitative information in order to prepare relevant disclosures. Those data from different sources of the organization which are necessary in formulating the integrated report must be fuse into an internally consistent information system. It is said that sustainability is central to integrated reporting so if the organization desired or wanted to produce a sustainable value over the long term then it will need to create an Integrated Information Management system with extremely diverse sets of quantitative and qualitative data.

The proposal is intended to the management accountant because they are the one who prepares relevant information which is very useful in every aspects of an organization. The purpose of the integrated report framework is to support organizational efforts to develop sustainable value over the long term. An integrated information management schematic may provide a helpful supplement for an enterprise resource management system. By reporting data from integrated information management system, a management accountant can produce metrics with significant degree of inherent credibility; they can ensure that their organizations will be able to access the diverse data elements required to make complex decisions.