PRESENTATION OF ACCOUNTS

Press, Volume XCVI, Issue 28438, 19 November 1957, Page 7

PRESENTATION OF ACCOUNTS

“Demand For More Information”

Over a period or years mere had been greater interest in the presentation of accounts because of the small investors, said Mr H. E. Strickett, of Auckland, in an address to the CanterburyWestland branch of the New Zealand Society of Accountants last evening. His subject was: “The presentation of accounts under the Companies Act, 1955.” "There is a demand for more information, and it is essential to take into account the persons who will be reading the report.” he said. "Some overseas companies are now employing advertising agencies to display their accounts, and in New Zealand some of our progressive firms are giving more consideration to the: piesentation.” Some of the overseas firms were, overdoing their reports, and they j were becoming an advertising j medium for more staff. “Accounts i are surrounded by photographs i of happy staff members.’’ he said. N.Z. Accounts A study of 100 New Zealand accounts showed 45 were folded sheets. 30 were small booklets., and 20 were over 20 pages with I colour, said Mr Strickett. In the interests of simplicity some firms were omitting pennies and shillings from the final published accounts, and some overseas firms were going to the nearest £lOOO. One New Zealand company had adopted this procedure 'last year, and made its published figures to the nearest £lOOO. However, this year it had reverted to the nearest £1 again, he said. The Auckland Gas Company was the oldest company in New Zealand. It was formed in 1862. and in those days the Companies Act was only two pages. “I wish we had an act like that today,” said Mr Strickett.