1. The annual report is considered by some to be the single most important printed document that companies produce. In recent years, annual reports (10-K) have become large documents, time consuming and costly to produce.....". (IMA/CMA)

Required: (20%)

1. Identify and discuss the basic factors of communications that must be considered in the presentation of this information.
2. Discuss the communication problems a company faces in preparing the annual report due to the diversity of the uses being addressed.
3. Identify ways that the SEC uses to protect investors and maintain efficient stock markets in the United States.
4. Would you encourage producing information if its expected costs exceeded benefits.