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PAPER PRESENTATION

Akshaya Katiyar

Assistant Professor

Faculty of Management,Jodhpur National University,JODHPUR.

Two days UGC sponsored National Seminar on Studies inAccounting, Finance & Management.On 19

and 20

March, 2009AtDepartment of AccountingFaculty of Commerce and Management Studies,Jai Narain Vyas University, Jodhpur.

CORPORATE FINANCIAL REPORTING ON INTERNET

Mr. Akshaya Katiyar

Within a short period of less than 15 years, the Internet has grownfrom an essentially academic facility to the backbone of the informationsuperhighway. It is one of the most rapidly growing areas which offer theusers the facility to access documents containing text, graphics, sound, andvideo. It is now widely used in universities, business companies, homes,schools, and public sector organizations for a variety of purposes. India hasthe fourth largest number of Internet users in the world, with over 85 millionusers. The Internet has also become an increasingly attractive market placewith the e-commerce set to grow at a 30 percent pace to touch Rs. 11,900crores in 2008-09 from Rs. 9,210 crores in 2007-08 boosted by strength inthe classifieds, subscription and downloads businesses (IAMAI, 2007).The Internet appears particularly pertinent to financial reporting. First,it is a global network which makes physical and national boundaries lessmeaningful and thus provides a seamless information delivery channel. With

Assistant Professor, Faculty of Management, Jodhpur National University, Jodhpur,Rajasthan2

the advent of World Wide Web, it supports powerful hypertext andhypermedia presentations. In addition, the Internet is capable of integrationwith other information and communication technologies. In particular, itsconvergence with database technology opens many opportunities for improving financial reporting. Indeed, the Internet is increasingly used for corporate reporting.Given the growing importance of the Internet and its evidentrelevance to financial reporting, it is important to investigate the futureimpact of the Internet on financial reporting. As the business world becomesincreasingly dynamic, academics and practitioners have called for improvements in financial reporting. Furthermore, the accounting professionis anxious to gain an insight into its future position in an Internetenvironment.

FINANCIAL REPORTING AND ITS USERS

The reporting process of an entity to a user or a group of users isknown as the reporting of accounting information. Communicating of information both financial and non-financial about the resources and performance of the said entity is defined as Corporate Financial Reporting. It