The following is an extract from a newspaper article in the financial press. 

‘Investors are becoming increasingly dissatisfied with annual reports because these are backward-looking, historical accounts. They also know that analysts working for the big investment funds can attend presentations by the finance director which may give insight into forward strategy. What we need in the annual report is a strong forward looking approach where companies disclose their forecasts for the year ahead. Then all shareholders and potential investors can share in the company’s vision of the future’.

Write a short essay of 500 words discussing this opinion.