1(a)

The business entity concept (also known as separate entity and economic entity concept)
states that the transactions related to a business must be recorded separately from those of its
owners and any other business entity. In other words, while recording transactions in a
business, we take into account only those events that affect that particular business; the events
that affect anyone else other than the business entity are not relevant and are therefore not
included in the accounting records of the entity.
This concept is very important because if transactions of a business are mixed up with that of
its owners or other businesses, the accounting information would lose its usability.
The business entity concept of accounting is applicable to all types of business organizations
(i.e., sole proprietorship, partnership and corporation) even if a law does not recognize a
business and its owner as the separate entities.
Importance/need of business entity concept
The business entity concept of accounting is of great importance because of the following
reasons:

1. The business entity concept is essential to separately measure the performance of a

particular business in terms of profitability and cash flows etc.
2. It helps in assessing the financial position of each and every business separately on a
particular date.
3. It becomes difficult and impossible to audit the records of a business if they are
intermingled with those of different entities/individuals.
4. The concept ensures that each and every business entity is taxed separately.
5. The employment of business entity concept is very general among business
organizations. If a company ignores this concept, it would not be able to compare its
financial performance with that of others in the industry.

1(b)
What is Money Measurement Concept
Money measurement concept is an important accounting concept that is based on the theory
that a company should be recording only those transactions that can be measured or
expressed in monetary terms on the financial statement.
Money measurement concept is also known as Measurability Concept, which states that during
the recording of any financial transactions, those transactions should not be recorded which
cannot be expressed in terms of monetary value.
Characteristics of Money Measurement Concept
Following are some of the characteristics of the money measurement concept
1. It takes money as a common parameter for the measurement of performance of a company.
2. It records only those transactions that can be recorded in monetary value.
3. Presenting the value of business in monetary terms helps in ease of communication between
management and the stakeholders.
4. It does not take into account the impact of inflation on the recording of transactions.
Importance of Money Measurement Concept
As money is regarded as a common unit of recording transactions related to the income, profit,
loss, capital, assets and liabilities of a business, it becomes easier to record and present
business transactions into the financial statements such as Profit and Loss statement and
Balance Sheet.
Exceptions to Money Measurement Concept
Examples of transactions that cannot be recorded in monetary value
1. Employee skill set and quality
2. The efficiency of the administration
3. Product and service quality
4. Employee and stakeholders satisfaction level
5. Safety measures of the company in order to prevent any hazard.
Advantages of Money Measurement Concept
Following are some of the advantages of the money measurement concept
1. It helps in maintaining business records by recording all transactions that are having
monetary value.
2. It is helpful in preparation of financial statements (such as Profit and Loss Statement, Income
Statement)
3. As the financial transactions are recorded in a proper manner, it becomes easy when two
separate accounting periods are compared.
4. It provides a clear picture of the financial transactions and state of the business which help in
assessing the investors in knowing the status of their investment.
Limitations of Money Measurement Concept
Some of the limitations of the money measurement concept are as follows:
1. It does not take into account the impact of non-monetary events on business.
2. It ignores the impact of inflation on historic costs
This was all about the topic of Money Measurement Concept, which is an important topic of
Accountancy for Commerce students. For more such interesting articles, stay tuned to BYJU’S.

1(c)
The accountants use this concept when there is a significant
concern regarding the liquidation of the assets. The going concern
concept is applied when the chances are high that the company
would be liquidated in the next two or four quarters.
Usually, when keeping books, accountants do not think that the
businesses would soon be bankrupt or be liquidated; this allows the
accountants to put a price on assets that can be correct for a long
time.
But, if there are serious concerns regarding the financial health of
the company, meaning the company is going bankrupt or would be
liquidated or sold, the accounts put a value on the resources of the
company.
What meant by the continuity or going concern principle of
accounting?
Going concern is an accounting term for a company that has the resources needed to continue
operating indefinitely until it provides evidence to the contrary. This term also refers to a
company’s ability to make enough money to stay afloat or to avoid bankruptcy.

What is meant by the going concern convention?

The going concern concept is a fundamental principle of accounting. It assumes that during and
beyond the next fiscal period a company will complete its current plans, use its existing assets
and continue to meet its financial obligations. This underlying principle is also known as the
continuing concern concept.
What is continuity in accounting?
Dictionary of Accounting Terms for: continuity. continuity. accounting assumption that expects a
business to continue in life indefinitely; also called going concern. It is the basis for using
historical cost to value accounts rather than liquidation value since the company will remain in
existence.
What is consistency concept and going concern?
These tips will help to create your budget as a freshman
Going concern and consistency concepts are important in the accounting world The going
concern concept It is one of the most fundamental concepts It forms the assumption on which
all accounting operations are carried out According to this concept all accounting transactions
must be recorded and reported .

1(d)

Accrual Concept
Definition: The accrual concept is one of three basic accounting concept, others are
going concern and consistency. As per this concept, the recognition of the
transactions and events as and when they arise, i.e. on mercantile basis, rather than
on cash basis in which the transaction is recorded in the books of accounts when the
cash is received/paid against it.
In business parlance, accrual implies the recognition of revenue and expenses as
they are earned or incurred and not when they are received or paid. Revenue implies
the overall cash inflow, receivables and other consideration, that arises out of regular
business activities, from the sale of products or rendering of services. On the other
hand, expenses connote the cost incurred in relation to the business operations in a
particular financial year.
In business, it is not necessary that the instant payment is received or made against
any transaction in cash. That is why the recognition of accrued revenues and
expenses is done as they are earned or incurred and not when they are received or
paid. So, it clarifies the difference between receipt of cash and the right to receive it,
and disbursement of cash and obligation to disburse it.
In short, in accrual concept, the recording and reporting of the transactions in the
financial statements is carried out in the accounting year to which they belong.
When a firm follows accrual concept, it helps the readers of the financial statement to
get information about the past and future events, i.e. the transactions on which
receipt is due or received and obligations that are paid or yet to be paid.
Adjustment entries concerning outstanding expenses, prepaid expenses, accrued
income and income received in advance etc. are made on the basis of this concept,
which affects the profit and loss account and balance sheet of the company.
Example
Alex purchases a machinery for Rs. 1,00,000, paying cash Rs. 60,000 and sold it to
Joseph for Rs. 1,10,000. Out of Rs. 1,10,000, Joseph paid only Rs. 70,000. In this
case, the revenue of Alex is Rs. 1,10,000 and not 70,000. Expense is Rs. 1,00,000
and not 60,000. So, the profit earned will be 1,10,000 (Revenue) – 1,00,000
(Expenses) = 10,000 (Profit).
Accrual concept is the foundation of the present accounting system, called as accrual
system of accounting, as it helps in the measurement of income and expenses, and
identification of assets and liabilities.

2(a)

Marginal Costing
Definition: Marginal Costing is a costing technique wherein the marginal cost, i.e.
variable cost is charged to units of cost, while the fixed cost for the period is
completely written off against the contribution.
The term marginal cost implies the additional cost involved in producing an
extra unit of output, which can be reckoned by total variable cost assigned to one
unit. It can be calculated as:
Marginal Cost = Direct Material + Direct Labor + Direct Expenses + Variable
Overheads

Characteristics of Marginal Costing

 Classification into Fixed and Variable Cost: Costs are bifurcated, on the
basis of variability into fixed cost and variable costs. In the same way, semi
variable cost is separated.
 Valuation of Stock: While valuing the finished goods and work in progress,
only variable cost are taken into account. However, the variable selling and
distribution overheads are not included in the valuation of inventory.
  Determination of Price: The prices are determined on the basis of marginal
cost and marginal contribution.
 Profitability: The ascertainment of departmental and product’s profitability is
based on the contribution margin.

In addition to the above characteristics, marginal costing system brings together the
techniques of cost recording and reporting.

Marginal Costing Approach

The difference between product costs and period costs forms a basis for marginal
costing technique, wherein only variable cost is considered as the product cost
while the fixed cost is deemed as a period cost, which incurs during the period,
irrespective of the level of activity.

Facts Concerning Marginal Costing

 Cost Ascertainment: The basis for ascertaining cost in marginal costing is the
nature of cost, which gives an idea of the cost behavior, that has a great
impact on the profitability of the firm.
 Special technique: It is not a unique method of costing, like contract costing,
process costing, batch costing. But, marginal costing is a different type of
technique, used by the managers for the purpose of decision making. It
provides a basis for understanding cost data so as to gauge the profitability of
various products, processes and cost centers.
 Decision Making: It has a great role to play, in the field of decision making, as
the changes in the level of activity pose a serious problem to the management
of the undertaking.

Marginal Costing assists the managers in taking end number of business decisions,
such as replacement of machines, discontinuing a product or service, etc. It also
helps the management in ascertaining the appropriate level of activity, through break
even analysis, that reflect the impact of increasing or decreasing production level, on
the company’s overall profit.

2(b)

What is activity-based costing?

Activity-based costing is a process of calculating the cost of
products that accounts for indirect costs. It's a process of
tracking resource use and pricing final outputs. The goal of
activity-based costing is to assign specific resources to
objects. It specifically identifies the activities that cause
production costs to increase, helping team leaders make
more informed pricing and manufacturing strategies.
Activity-based costing includes the following steps:

1. Identify activities that are required to complete a

product.
2. Trace costs to activities and objects and then assign
them to different pools.
3. Assign specific drivers to each pool, like an hour or unit.
4. Calculate cost driver's rates by dividing overhead costs
by total cost drivers.
5. Divide the total overhead of each pool by total cost
drivers to get the cost driver rate of each.
6. Multiply your cost driver rate by the number of cost
drivers.

You can compare activity-based costing to absorption-

costing. Absorption-costing refers to equally assigning the
value of overhead costs across all inventory. This accounting
method doesn't account for products that may have higher
indirect costs, but activity-based costing does.

Activity-based costing
advantages
There are several advantages to using activity-based costing,
such as:
It gives you a realistic and more accurate
production cost of specific items
Activity-based costing gives managers more accurate
production costs. This can help businesses make more
informed decisions about which products to produce or help
them find cheaper methods of production. It can also help
when determining pricing for individual products.
In addition to having a clearer understanding of the
manufacturing costs, the process of gathering the data is
also easy with activity-based costing. Most management
members can identify the costs of each activity once they
have the necessary data. This may also help with making
production decisions that affect pricing.

It allows you to assign specific overhead

costs to more expensive products
Instead of assigning an equal value to all products, you can
allocate the necessary budget in each area when using
activity-based costing. Some products may be costlier to
produce, depending on their indirect costs. This can also help
with identifying costs that apply to more than one pool of
manufacturing products, which can make resources more
valuable.

It allows you to evaluate the efficiency of

productions and make improvements
This method allows managers to assign value to indirect
costs, treating them as if they were direct costs. By breaking
down the indirect cost of each activity, they can make
improvements. Managers can use the activity-based costing
method to evaluate things like management influence,
efficient processes and the overall cost of different
departments.

It gives you more accurate data for profit

margins
Because activity-based costing accounts for non-
manufacturing costs or indirect costs that you may not have
otherwise considered, it can help with improving profit
margins.
Having more accurate profit margins can help business
leaders make important decisions. It can also help reduce or
transfer production costs, allowing management to improve
their profit margins even further with effective pricing
strategies.
Managers can easily identify products of little to no value
when using activity-based costing. They can use this
information to remove products from inventory and to
allocate those manufacturing resources to more profitable
items.
It also makes it easier to identify products that can be
wasteful when it comes to required resources. Some
products may not only be of low value but also use necessary
resources.

It provides benefits in industries that other

methods don't work
Traditional costing methods don't always work in certain
industries, such as the service industry. This is because
service industries have minimal direct costs.
However, you can use activity-based costing in these
industries since you apply the cost directly to the type of
service. This means you can use it to improve results and
pricing in industries that are otherwise left out.

Activity-based costing
disadvantages
It's important to consider the potential disadvantages of
activity-based costing when choosing the right method. Here
are a few potential disadvantages to consider:

It can be more time-consuming

Activity-based costing can be a more time-consuming
process. Instead of calculating total costs and dividing them
equally over all products, team members have to evaluate the
costs of each product manually. They have to go through the
process of dividing products into different pools.
Businesses may need to assign a team to this specific task,
but they may also choose to outsource it. This can be a
better method as this process usually requires a team of
management-level employees. Additionally, when you
outsource this task to a team that specifically focuses on
activity-based costing, the team is usually already familiar
with the programs.

It can require more resources to gather

accurate data
Gathering data for individual products can be time-consuming
and costly. Businesses may have to hire or assign team
members for the task, affecting payroll, and you may also
need to purchase data collection software.
Some businesses choose to outsource the process, which
can also cost the business. However, there may be options
available to help streamline the process for a more efficient
and cost-effective process.

It may be difficult without data readily

available
Depending on the manufacturing systems or programs that
you use, the information you need may not always be readily
available. Collecting the data you need may require the use
of specific software.
Also, the reports you use when collecting this type of data
don't always follow the traditional guidelines for accounting
principles , which can make things harder to track for some
teams.
All production and manufacturing teams may need to train on
the new activity-based costing process and programs.
However, once they do, the process typically becomes easier
for everyone. Gathering the data you need, as long as you
have the right resources and team members, can be
beneficial.

It may not be an option for smaller

companies
Smaller companies that have small overhead costs may find
that using activity-based costing is not as efficient as other
options. They are also more likely to use market-based costs
when calculating data, which doesn't always align with
activity-based costing.
You may most often find activity-based costing in the
manufacturing industry. However, it is proving to be
beneficial in other industries, too.

3
Before making any final decisions, it's important for
organizations to consider the potential financial effects of
their actions. For example, they may compare the possible
costs and forecasted revenue to determine the viability of
their decision. Cost-volume-profit (CVP) analysis, or break-
even analysis, is a common method used to help with this
process. In this article, we answer some frequently asked
questions about CVP analysis, such as what it is, what
assumptions it makes, how to calculate it and what the
limitations of this analytical method are.

1. What is CVP analysis in cost

accounting?
CVP analysis helps determine whether there's economic
justification to manufacture a product. It helps uncover what
the breaking-even point is, which is the point at which the
organization recovers all of its relevant costs without
generating a profit or experiencing a loss. It identifies how
many units the organization needs to sell to so the
production can achieve its target sales volume so it's able to
earn its desired profit.
CVP analysis is beneficial in helping companies understand
the relationship between their costs and revenue and how
they may affect profit generation. This is essential in the
decision-making process. If an organization would need to
sell an extremely high number of units to break even, it may
not be a good financial decision for them to manufacture the
product. Conversely, if the organization may be able to reach
its break-even point quickly, this may indicate that it's a good
product to manufacture.

2. What assumptions does CVP

analysis make?
CVP makes several assumptions that primarily relate to
costs. These assumptions may affect the reliability of the
analysis. CVP analysis also requires the organization to
identify all costs, including administrative, manufacturing
and selling costs, as either fixed or variable. While CVP
analysis typically doesn't account for semi-variable
expenses, an organization may use the high-low method, a
scatterplot or a statistical regression to display and organize
them.
Some assumptions that CVP analysis makes include:

 Changes in expenses only occur because of changes in

activities.
 If organizations sell multiple products, then they sell
them in the same mix.
 The organization sells everything that it produced.
 The sale price per unit remains consistent.
 The variable costs per unit stay consistent.
3. How is CVP calculated?
Here's the formula to use for calculating CVP:
Profit = selling price - variable costs - fixed costs
In this formula, profit refers to the total amount of money
remaining after accounting for all expenses. Fixed costs refer
to all expenses the organization pays regardless of the
number of products it sells, and variable costs refer to costs
the organization pays depending on how many products it
produces. The selling price refers to how much the
organization charges for a particular product.

4. What other calculations does

CVP analysis involve?
Performing a CVP analysis involves several components and
calculations, which are:

Contribution margin (CM) ratio and variable

expense ratio
The CM ratio and variable expense ratio are helpful for an
organization to evaluate how significant variable costs are. In
general, the combination of a high CM ratio and a low
variable expense ratio suggests production required low
levels of variable costs. It's important for the contribution
margin to exceed the total fixed costs for an organization to
generate a profit.
Here's the formula to use for calculating contribution margin
ratio:
Contribution margin ratio = (sales revenue - variable costs) /
sales revenue
Here's the formula to use for calculating variable expense
ratio:
Variable expense ratio = total variable costs / sales

Break-even point
An organization may express the break-even point (BEP) in
dollars or units. In dollars, the BEP represents the amount of
sales required for the company to generate to cover all its
production costs, which includes all fixed and variable costs.
In unites, the BEP represents the number of items required
for the organization to sell to cover its total production costs.
Here's the formula to use for calculating the BEP in dollars:
Break-even sales volume = fixed costs / contribution ratio
Here's the formula to use for calculating the BEP in units:
Break-even sales volume in units = fixed costs / unit
contribution margin

Changes in net income

Changes in net income, or a what-if analysis, can help
organizations estimate how changes in sales behavior may
affect their net income. Organizations may use their net
income targets or sales performance targets to assess how
they may affect one another. It may help them better
understand how many dollars it must earn or how many units
it must sell to earn a specific profit.
Here's the formula to use for calculating changes in net
income in dollars:
Required sales = (fixed costs + targeted income) /
contribution margin ratio
Here's the formula to use for calculating changes in net
income in units:
Required sales = (fixed costs + targeted income) /
contribution margin per unit

Margin of safety
The margin of safety helps organizations better understand
how variables may affect their profits. It represents how
much sales may decline while still allowing the organization
to break even on its expenses. This may be beneficial to
calculate if an organization thinks a potential decision may
be risky and it's attempting to discern whether the decision
is worth the risk.
Here's the formula to use for calculating the margin of safety:
Margin of safety = actual sales - break-even sales

Degree of operating leverage

The degree of operating leverage (DOL) represents how
changes in sales numbers affect changes in net income. A
higher DOL represents a higher risk for the company. A higher
DOL indicates a small decrease in sales may cause a large
decrease in net income and profitability.
Here's the formula to use for calculating the DOL:
Degree of operating leverage = contribution margin / net
income
5. What are the limitations of CVP
analysis?
Most of the limitations of CVP analysis relate to how it
approaches costs. For example, it assumes all costs are
variable or fixed. However, some costs may be semi-fixed.
For example, there may be a facility that charges a fixed
base rate for using their facility and a variable charge based
on how many hours that you use it.
CVP analysis also assumes that fixed costs remain constant.
However, at a certain level, the fixed cost of an item may
change. Additionally, it assumes that variable costs vary
proportionately, but this may not typically occur.

4
Shareholders, investors and analysts receive information
from companies in different formats. An annual report is one
of these key documents. This report contains varying
amounts of information, depending on the business and
provides investors with updates on the company's financial
position along with its performance. In this article, we
discuss what is an annual report, understand some of its
components, find out its importance and review some steps
on how to use one.

What Is An Annual Report?

A better understanding of "What is an annual report?" can
help stakeholders and customers make better investment
decisions. Companies publish their annual reports to
summarise their previous year's activities. It is a regulatory
report that gives shareholders and investors all the financial
and operating details of a company. Annual reports can show
how a company is progressing towards its objectives and the
state of its finances. To reduce future debt, the internal
leadership of the company reviews the annual report each
year.

Contents Of An Annual Report

In general, annual reports follow a specific format that
organises the information in a simple and comprehensible
manner. It includes the following items:

 Letter from the CEO: It provides a summary of the

company's performance and achievements in the
previous year.
 Basic information about the company: The first page of
an annual report usually features information about the
company, its location and the management structure.
 Risk factors: This section provides a detailed overview of
the company's risk factors and their impact on its
financial position. A risk assessment may also examine
potential risks the company anticipates arising in the
coming year and ways to avoid them.
 Property information: The information in this section
relates to all of the company's properties, both owned
and leased. There may be a description of each property,
what the company uses it for and how much it costs to
maintain, rent or pay other associated expenses.
 Important changes to operations: An analysis of business
operations generally includes any significant changes
over the past year.
  Important changes to finances: Most businesses also
report any notable changes in the company's financial
position over the past year.
 Stockholder information: It provides information about a
company's shares, dividends, shareholders and any other
information regarding market equity. The share price of
the stock and who owns it are important factors for
investors.
 Analysis of financial condition: This section summarises
the company's financial condition and future prospects.
This section is also known as management discussion
and analysis (MD&A).
 Cash flow statement: The cash flow statement gives
details of the amount of cash that is available for use.
The statement helps analyse investments, operations
and financing activities.
 Auditing report: Auditors audit companies to determine
whether their accounting systems meet the necessary
requirements and industry standards.
 Market segment information: Depending on the report,
companies may also choose to include customer
segment information, which analyses and provides
information regarding the company's customer base.
This can help businesses target the right audience and
position their brands accordingly.
 Research and development goals: Businesses may use
this report to share their research and development
goals for the next year. A strategic plan describes the
goals and the resources the company requires for
accomplishing its mission.

Why Is An Annual Report

Important?
The following are some reasons why a company's annual
report is important:

Business communication
Annual reports are imperative for business communication. It
serves to introduce the Board of Directors to key
stakeholders and personnel within the company. The chief
executive officer (CEO) or board chairperson shares a morale-
boosting message through the report. The message
addresses the employees thanking them for their hard work
during the past year. It also provides them with
encouragement for the succeeding year. Such a report sets a
positive tone. The article also discusses the marketing
strategies adopted, adaptation to changing business
conditions and the company's future plans.

Marketing tool
Annual reports can serve as a marketing tool for the
company. A common theme used in annual reports is one that
focuses on a historical milestone or how their technology is
improving lives. Including positive stories about the
company's employees, customers and key moments in its
history can appeal to investors and customers.

Focus on key milestones

Annual reports provide a summary of the company's
achievements and information about its mission and history.
A timeline of key company milestones depicts the company's
progress over time. It also lists the company's research
advancements, market share gains and honours received.
Stakeholders and customers can use this information to
make informed investment decisions.
Company financial information
In their annual reports, companies retain award-winning
designers to showcase financial information to appeal to
investors. Reports contain balance sheets, cash flow
statements, income statements and financial summaries in
an organised manner. Some reports may also include
contributions to provident funds or stock options. The
financial information in this section assists the reader in
understanding how the company operates, revenues it
generates and the company's growth trajectory.

Who Uses Annual Reports?

An annual report is a valuable resource for anyone
considering or currently holding financial investments in a
business. Shareholders receive annual reports that contain
pertinent information about the company's financial
performance and changes to its operations over the past
year. These reports are available for anyone to read:

 Current shareholders: Annual reports help shareholders

to understand the current state of the company and
make investing decisions. In addition, it expresses the
company's future goals and objectives, which
encourages current shareholders to invest long-term.
 Potential shareholders: Aside from providing information
to existing shareholders, annual reports can also attract
new shareholders. Potential investors use annual reports
to make investment decisions.
 Employees: Many employees are also shareholders of a
company because of stock option plans and other
investment schemes. Employees can learn of a
 company's different focus areas through an annual
report.
 Customers: The purpose of annual reports is to provide a
comprehensive overview of companies and help
prospective customers decide which to invest in. Annual
reports allow companies to highlight the company's core
values and objectives to attract customers interested in
working with them.

How To Use An Annual Report?

You can maximise the information you get from reading an
annual report by following these steps:

1. Examine debts carefully

Investors may examine your debts before contributing to the
company. A company with low-interest rates or few debts
may present less of a risk to investors in the long term. The
annual report details the company's debts, its lenders, the
interest rates and its plan to repay those debts. In addition, it
is pertinent to consider if the company can generate enough
income to pay off its debts and begin turning a profit within a
reasonable timeframe. By paying off its debts early, a
company can become more profitable.

2. Analyse the executive structure of the

organisation
Leadership in a company can have a significant impact on its
performance. Consider the team's credentials, their outlook
on the company and their strategies for reducing debt and
increasing profits. A company's long-term goals, along with
information about its management team, can help investors
decide whether they want to invest.

3. Assess the company's risk factors

A risk factor is any factor that affects a company's financial
health, such as debts outstanding or legal cases. Investors
may prefer companies with fewer risks. The information in
the annual report of a company can help investors make
informed decisions.

4. Review the company's market

performance
Analysing a business's financial factors also requires
consideration of the company's market performance. An
excellent track record of steady growth and low debt can
result in a higher stock price for a company. As a form of
liquidity, a company can buy or sell company shares quickly,
allowing it to cover unexpected expenses or supplement its
cash flow. It is also important to consider the stock's change
in value over the last year. Trends that indicate good growth
often signal strong company fundamentals.

5. Examine the debt-to-equity ratio

By dividing a company's total liabilities by its shareholders'
equity, the debt-to-equity ratio (D/E) reveals a company's
financial leverage. Corporate finance uses D/E ratios to
measure performance. This ratio indicates to what extent the
company is borrowing money to finance its operations as
compared to wholly owned funds. It is a measure of debt
coverage provided by shareholder equity in a downturn.

6. Ensure consistency
For a complete understanding of how the company's various
sectors interconnect and contribute to its success, read the
report in full. The uniformity of the report indicates the
content is accurate and well-written. It ensures that all
information is accurate and transparent. Furthermore, it
makes the information more accessible to all readers.