The case for employee reporting in Malta : an investigation

Abstract

The accountancy field has over the years experienced some changes in its theories, systems and schools of thought. This because, although accounting is a discipline on its own merit, it entails a wide array of issues each with its own rationales. Some of these changes took place in the area of financial reporting. Traditionally, the focal point of accounting has been the needs and the viewpoints of investors - the so called 'stewardship reporting'. In fact the concept of financial management is founded on the premise that the maximisation of shareholders' wealth is an appropriate guide for how the firm should act. However, the main reason for having such a wide disposition of subjects and topics is that accounting is a process of informing not only the owners of a business, but also the other stakeholders in a business, such as lenders, employees, consumers and government just to name a few. These also have the right to be informed on the business's progress (or regress) so as to anticipate the future.