Joachim Wolbert

"Shortcomings in conventional corporate reporting"

Conventional corporate reporting is not aligned with the information interests of investors and has considerable deficits as a basis for a meaningful company valuation. A one-sided focus on quarterly results and the non-consideration of future cash flows as a valuation basis for the company value can, in the worst case, lead to value destruction.

"Value orientation as a trend in future corporate reporting"

Value-oriented reporting should make it easier for investors to value companies. As the report structures used to date (balance sheet, income statement) can only provide this assistance to a limited extent, a future-oriented, multi-period planning calculation is required with details of the assumptions used in the planning.

"Too much regulation contradicts the aim of regulation"

When developing adapted report structures in favor of value-based corporate reporting, regulators must keep an eye on the conflicting goals of their activities. On the one hand, too much regulation must not make corporate reporting unnecessarily complex and, on the other hand, too little regulation must not reduce the comparability of companies.

Status: Beginning of 2006