United Kingdom

Individual Accounts
  • T. E. Cooke
  • R. S. Olusegun Wallace


This contribution looks at the state of corporate financial reporting in the UK and the deliberate efforts that have been made and are being made to improve the level of reporting. Corporate financial reporting is an abstract concept which means a variety of things for a variety of users. In a competitive market, such as the business environment of the UK, customers, suppliers, employees, managers, investors, lenders and government (including tax authorities) need constant streams of information to assist them in their respective roles. In a regulated market, the regulator that serves as a surrogate for competition requires similar flows of information so as to regulate the market and stimulate customers, suppliers, employees, managers, investors and lenders to respond in that market in a way that is not dissimilar from a competitive market. Financial reporting is one constant stream of information available to these different constituencies.


Balance Sheet Generally Accept Accounting Principle Financial Account Standard Board Historical Cost Annual Account 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 1995

Authors and Affiliations

  • T. E. Cooke
  • R. S. Olusegun Wallace

There are no affiliations available

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