Good Practices in Corporate Reporting

Contents
1. BT Group Plc - maturity

analysis
2. National Grid - net debt
reconciliation
3. AkzoNobel - market overview
and detailed performance
4. Roche - Granular Segment
Reporting
5. ARM Holdings - non-GAAP
reconciliation
6. Volvo Group - clear
communication
7. Berkeley Group - sustainability
beyond core operations
8. Kingfisher plc - sustainability
and strategy
9. Land Securities - comprehensive
overview
10.Marks and Spencer - board
activities and investor relations
11. Vodafone - link to strategy and
business model
12.ICAP - risk profile and impacts
13.Randstad - risk appetite
14.Berendsen - comprehensive
remuneration report
15.Old Mutual - remuneration 'at a
glance'
16.Go Ahead Group - what the
business does
17.Sasol - value chain
18.Berendsen - strategic priorities

19.Pacific Basin - strategic model
20.Capital & Counties Properties targets and alignment with
strategy
21.Transnet - targets and
performance
22.Metso - market overview
23.Rexam - market analysis
24.Aegon - value chain
25.The Crown Estate - connectivity
throughout the report
26.SAB Miller - 'flow of tax'
27.Unilever - principles and
country by country
Good practices in corporate reporting
Reporting Area:
Cash and Debt
Company:
BT Group plc
Country:
United Kingdom
Industry:
Telecommunications
Investors tell us that they need comprehensive information on cash and debt, including debt maturity, currency profile,
borrowing facility headroom and relevant interest rates.
BT Group show some examples of good practice:
Showing average net debt for the year.

Using a graphical representation to show debt maturity.
Providing maturity information on an annualised basis, separately showing the impact of hedging and interest.
Defining and reconciling a measure of free cash flow.
Starting the cash flow statement from a pre-tax profit line.
Showing the movements in different types of working capital separately on the face of the cash flow statement.
Source: BT Group plc Annual Report & Form 20F 2013

Please refer to the source document for the context of the
example.
If you would like to discuss your cash and debt reporting,

please speak to your usual PwC contact, or email
info@corporatereporting.com
PwC has a strong network of people who can advise on all
aspects of your corporate reporting, as well as share our
unique insight into the needs of the
investment community.
This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information
contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of
the information contained in this publication, and, to the extent permitted by law, PricewaterhouseCoopers LLP, its members, employees and agents do not accept or assume
any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or
for any decision based on it.
2013 PricewaterhouseCoopers LLP. All rights reserved. In this document, "PwC" refers to the UK member firm, and may sometimes refer to the PwC network. Each
member firm is a separate legal entity. Please see www.pwc.com/structure for further details.
130813-165448-JS-OS
Reporting Area:
Cash and Debt
Company:
National Grid plc
Country:
United Kingdom
Industry:
Utilities
Investors say without a good net debt reconciliation, we are flying blind. Companies that provide one can set themselves
Apart.
National Grid plc show some examples of good practice:
Showing each component of net debt separately.
Giving an opening and closing balance for each component.
Breaking down each factor that impacted the movement in the year, in this case cash flow, non-cash movements and
exchange movements.
Providing a reconciliation of net cash flow to movement in net debt.
Showing net debt trend.

Source: National Grid plc Annual Report & Accounts

2012/13
example.
130813-165448-JS-OS
Reporting Area:
Segments
Company:
AkzoNobel
Country:
Netherlands
Industry:
Chemicals
The area of disclosure that is most likely to generate a heated debate among investors is the quality of segment reporting.
Analysts tell us that this essential building-block
block for fundamental analysis is the area that offers the greatest opportunity for
fo
a companys reporting to differentiate itself from its peers. AkzoNobel the Netherlands based chemicals company show some
examples of good practice:
Including a detailed discussion of strategy for each business segment.
Showing performance against key performance indicators on a segmental level, including trend data.
Keeping reported segments consistent throughout the annual report.
Disclosing key ratios on a segmental basis, including trend data restated where necessary.
Including an analysis of key raw materials, price drivers, brands and market positions for each segment.
Source: AkzoNobel Report 2012

Please refer to the source document for the context of
the example.

This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice.
adv
You should not act upon the information
contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied)
impli
is given as to the accuracy or completeness of
any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance
rel
on the information contained in this publication or
2013 PricewaterhouseCoopers LLP. All rights reserved. In this document, "PwC" refers to the UK member firm, and may sometimes
sometim refer to the PwC network. Each
130813-165448-JS-OS
Reporting Area:
Segments
Company:
Roche
Country:
Switzerland
Industry:
Pharmaceuticals and Biotechnology
The area of disclosure that is most likely to generate a heated debate among investors is the quality of segment reporting.
Analysts tell us that this essential building-block for fundamental analysis is the area that offers the greatest opportunity for a
companys reporting to differentiate itself from its peers. Roche the Swiss-based pharmaceutical and biotechnology
company show some examples of good practice:
Keeping reported segments consistent throughout the annual report.

Showing operating results for each segment on a IFRS and core basis
Showing detailed breakdowns of line items, for example sales by product and therapeutic area
Giving cash flow information on a segmental basis, including a reconciliation to free cash flow.
Giving key performance indicator information on both a group and segmental basis

Source: Roche Annual Report 2013 and Financial Report 2013

Please refer to the source documents for the context of the
example.
130813-165448-JS-OS
Reporting Area:
Underlying performance
Company:
ARM Holdings plc
Country:
United Kingdom
Industry:
Asset management
Many companies report financial performance measures that are not prescribed by accounting standards, often called nonGAAP measures - for example, adjusted EPS or normalised profit. Investors find these metrics useful, as they can provide
additional insight into the entitys performance, however they also tell us that there are some basic things management can
do to make these numbers more effective. ARM Holdings plc, the UK-based technology company, showed some examples of
good practice in their annual report:
Using a graphical representation to show IFRS vs. non-GAAP performance measures and including historical data for trend
analysis.
Keeping the definition of non-GAAP measures consistent year on year and providing prior year information for trend
analysis.
Providing a reconciliation of each non-GAAP metric to the IFRS number, breaking down the adjustment by each impacting
factor.
Source: ARM Holdings plc Annual Report & Accounts 2012

example.

130813-165448-JS-OS
Reporting Area:
Underlying performance
Company:
The Volvo Group
Country:
Sweden
Industry:
Automotive
Investors often tell us they dont necessarily want more information in financial statements; but more effective information.
We hear that key messages can get buried in some of the notes to the financial statements. Management can help to address
this problem with a few simple improvements to their financial statements. The Volvo Group uses some of these approaches
in their reporting:
Positioning key elements of the financial review alongside the financial statements, referring to relevant further
information that may be needed by the user of the accounts.
Topping and tailing the notes with commentary about what the numbers mean for the business, explaining the numbers
in the note in the context of the business and pointing investors to the headline items.
Integrating accounting policies and key estimation uncertainties within each note to the financial statements.
Using simple charts within the notes to the financial statements to highlight key information.
Using clear signposting to create links throughout the financial statements, increasing cohesiveness.
Source: The Volvo Group Annual Report & Accounts 2013

example.

130813-165448-JS-OS

Reporting Area:
Sustainability
Company:
The Berkeley Group Holdings plc
Country:
United Kingdom
Industry:
Real estate
Companies can set themselves apart in Sustainability Reporting by looking beyond their core operations to assess
their sustainability impacts both in their supply chain (upstream) and from their products (downstream).
Disclosing how sustainability governance and sustainability strategy are integrated into the core structure of a
business shows how sustainability is embedded into the companys operations.
The Berkeley Group Holdings Plc (Berkeley) has demonstrated effective communication on some of these ideas in
their Annual Report and on their website:
Berkeley highlights that the majority of its environmental impacts occur in its supply chain. It works closely with
its suppliers to increase their performance on sustainability. An assessment of the sustainability of products and
suppliers forms part of the selection process.
Berkeley looks downstream by conducting post-occupancy evaluations to measure effectiveness of sustainability

related designs and influence the design of future homes.
Berkeley shows how sustainability fits into its overall governance structure. It explains where the sustainability
and health committee sits within the board structure.
If you would like to discuss your sustainability

reporting, please speak to your usual PwC contact, or
email info@corporatereporting.com
PwC has a strong network of people who can advise
on all aspects of your corporate reporting, as well as
share our unique insight into the needs of the
Source: The Berkeley Group Holdings plc, Annual Report 2014.
contained in this publication without obtaining specific professional advice. No representation or warranty (express or impli ed) is given as to the accuracy or completeness of
the information contained in this publication, and, to the extent permitted by law, PricewaterhouseCoopers LLP, its members, employees and agents do not accept or
assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this
publication or for any decision based on it.
2014 PricewaterhouseCoopers LLP. All rights reserved. In this document, PwC refers to PricewaterhouseCoopers LLP (a limited liability partnership in the Uni ted
Kingdom) which is a member firm of PricewaterhouseCoopers International Limited, each member firm of which is a separate legal entity.

Reporting Area:
Sustainability
Company:
Kingfisher plc
Country:
United Kingdom
Industry:
Retail & Consumer
Companies who truly integrate sustainability into their core business will have a clearly outlined sustainability
strategy over the short, medium and long term. They demonstrate how this is integrated into their core corporate
strategy and permeates throughout the business. Sustainability risks and opportunities are highlighted and are linked
to the strategy. These companies also demonstrate a broader understanding of the companys impacts and are seeking
a new type of growth that is inclusive of societal and environmental needs.
Kingfisher Plc has demonstrated effective communication on some of these ideas in their Net Positive Report.
Kingfisher provides a detailed description of its sustainability strategy and how it relates to the companys overall
business model. It sets short, medium and long terms targets as part of its strategy.
The strategy is based on Kingfishers Net Positive approach, through which the company aims to have a positive
impact on society and the environment while also growing its business.
The report is very clear on the key sustainability opportunities and plans to maximise these.
If you would like to discuss your sustainability

reporting, please speak to your usual PwC contact,
or email info@corporatereporting.com
Source: Kingfisher Net Positive Report 2014.
2014 PricewaterhouseCoopers LLP. All rights reserved. In this document, PwC refers to PricewaterhouseCoopers LLP (a limited liability partnership in the Uni ted

Reporting Area:
Governance
Company:
Land Securities
Country:
United Kingdom
Industry:
Real Estate
Governance reporting in the UK has been the focus of a number of regulatory changes designed to provide more
transparency around the actual role and activities of the board and its committees. The UK real estate company, Land
Securities have adopted a number of areas of good practice:
Showing how governance has been applied to the key aspects of the business, through a number of meaningful
case studies on the property cycle and key developments
High degree of insight into important areas including property valuation, the board evaluation, and investor
relations
The report is succinct and clearly laid out, making good use of charts and tables for standing data and specific
disclosure requirements.
If you would like to discuss your reporting, please

speak to your usual PwC contact, or email
Source: Land Securities Annual Report 2014

Please refer to the source document for the
context of the example.
any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication
or for any decision based on it.
2014 PricewaterhouseCoopers LLP. All rights reserved. In this document, PwC refers to PricewaterhouseCoopers LLP (a limited liability partnership in the United

Reporting Area:
Governance
Company:
Marks and Spencer
Country:
United Kingdom
Industry:
Retail
Governance reporting in the UK has been the focus of a number of regulatory changes designed to provide more
transparency around the actual role and activities of the board and its committees. The UK retailer , Marks and
Spencer have adopted a number of areas of good practice including:
Showing how governance was applied to key strands of the business, including Plan A and other strategic
initiatives
High quality implementation of the reporting changes for audit committees, including auditor effectiveness
and significant issues and the committees role in advising the board on the fair, balanced and understandable
statement
The importance of investor relations and engagement with shareholders is well-handled, addressing both
institutional and the groups many private shareholders
Source: Marks and Spencer Annual Report 2014

Please refer to the source document

for the context of the example.
any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication
or for any decision based on it.
Reporting Area:
People
Company:
Vodafone
Country:
United Kingdom
Industry:
Telecoms
People are a key element of almost every company, but few companies provide any detailed reporting about their human
capital strategy or how they manage their people. Vodafone, the UK based telecoms company, have included a number of
good practice elements in their reporting:
Employee engagement and senior management diversity included as Group KPIs
People shown alongside business model as key resource
Detailed narrative discussion of people strategy and people management, supported by data
If you would like to discuss your business model reporting,

Source Vodafone Annual Report 2013

the example.
130813-165448-JS-OS

Reporting Area:
Risk
Company:
ICAP
Country:
United Kingdom
Industry:
Banking and Capital Markets
UK risk reporting has steadily evolved over the past few years with a number of companies pushing the
boundaries of traditional reporting to give a clearer and more honest assessment of their risk profile.
ICAP plc, the UK based markets operator, provides a comprehensive risk section within their report,
some examples of good practice shown here include:
Clearly stating the risk rating and risk appetite for each key risk.
Providing an overview of how risks have changed in the period.
Being clear on the importance of managing risk for their business and linking directly to the business
model.
Setting out the risk impact time horizon.
Source: ICAP plc Annual Report & Accounts 2013

Please refer to the source document for the context of the example.
If you would like to discuss your risk reporting,

Reporting Area:
Risk
Company:
Randstad
Country:
Holland
Industry:
Business Services
Globally risk reporting is most commonly a legal overview of any possible risk that may occur to a business. However,
leading reporters recognise that this is unhelpful to investors who are looking for better quality information on a focused set
of key risks. Randstad, the Dutch recruitment company, have a detailed risk section within their annual report which clearly
highlights some areas of good practice:
The clear articulation of the Groups risk appetite, including quantification of sensitivities
Clear layout and explanation of key risks and how these are mitigated
Acknowledgement of the related opportunity linked to each risk
If you would like to discuss your risk reporting, please

Source Randstad Annual Report 2012

the example.
130813-165448-JS-OS

Reporting Area:
Remuneration
Company:
Berendsen
Country:
United Kingdom
Industry:
Textile and services
Berendsens directors remuneration report is comprehensive and detailed, yet remains accessible and
easily navigable through clear structuring and strong use of language and graphics.
The letter from the remuneration committee chairman is clear and concise, highlighting up front the key
changes during the year. The remuneration policy table is equally well presented, supplemented with a
table linking performance conditions to strategic objectives. Berendsen also discloses corporate and
individual bonus targets in greater detail than most of its peers, including reconciliation to single total
figure.
Source: Berendsen Annual Report & Accounts 2013

Please refer to the source

document for the context of
the example.

Reporting Area:
Remuneration
Company:
Old Mutual
Country:
United Kingdom
Industry:
Insurance
Clear transparent reporting on what the management of a company is remunerated and how that has
been determined has always been of interest to shareholders. Old Mutual, the international investment,
savings, insurance and banking group demonstrates good practice reporting in the following ways:
The at a glance section provides the reader with a swift insight into executive directors pay structure
and outcomes.
The Directors remuneration policy table is a succinct but comprehensive overview of future pay
arrangements.
There is clear insight into the vesting of long-term incentives with details of KPI weight and targets
together with outcomes and an explanation of how LTI amounts in single total figure are derived.
Source: Old Mutual Annual Report & Accounts 2013


the example.

Reporting Area:
Business Models
Company:
Go Ahead Group
Country:
United Kingdom
Industry:
Transport
Business model reporting has been a hot topic in the last couple of years as regulation has pushed companies to
provide an explicit overview of what their business does and how it makes money. The Go Ahead Group, the UK based
transport company have outlined their business model comprehensively and included a number of good practice
elements:
Clear overview of what the Group does and its divisional breakdown
Explanation of how revenue is generated for each of these divisions
Discussion on how value is created and shared
If you would like to discuss your business model reporting, please speak to your usual
PwC contact, or email info@corporatereporting.com
PwC has a strong network of people who can advise on all aspects of your corporate
reporting, as well as share our unique insight into the needs of the investment
community.
Source: Go Ahead Annual Report & Accounts 2013


Reporting Area:
Business Models
Company:
Sasol
Country:
South Africa
Industry:
Energy and chemicals
Business model reporting has been a hot topic in the last couple of years as regulation has pushed companies to provide an explicit overview of what their business does and
how it makes money. Sasol, the South African energy and chemicals company have outlined their business model comprehensively and included a number of good practice
elements:
Unpacks a complicated product clearly
Clearly displays the value chain, from inputs used to products
Draws out what is intended for the future outlook and sustainability of the model
If you would like to discuss your

business model reporting, please
speak to your usual PwC contact, or
email info@corporatereporting.com
PwC has a strong network of people
who can advise on all aspects of
your corporate reporting, as well as
share our unique insight into the
needs of the investment
community.
Source: Sasol Annual Report & Accounts 2013

the example.
This publication has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No
representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, PricewaterhouseCoopers LLP, its members, employees and agents do not
accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraini ng to act, in reliance on the information contained in this publication or for any decision based on it.
2014 PricewaterhouseCoopers LLP. All rights reserved. In this document, PwC refers to PricewaterhouseCoopers LLP (a limited liability partnership in the United Kingdom) which is a member firm of PricewaterhouseCoopers International Limited,
each member firm of which is a separate legal entity.

Reporting Area:
Strategy
Company:
Berendsen
Country:
United Kingdom
Industry:
Textile and services
Clear outlining of strategic priorities and linkage to other sections of the Annual Report are effective ways to communicate a Groups strategy and
long term positioning. Berendsen, the British textiles and services company, demonstrates good practice reporting in the following ways:
Describing its strategy from both a financial and non financial perspective - showing an integrated approach to achieving long term growth
Clearly linking each priority to remuneration, corporate responsibility and principal risks
Providing detailed discussion on each section and clear alignment to key performance indicators.
Source: Berendsen Annual

Report & Accounts 2013
If you would like to discuss your strategy reporting, please speak to your usual PwC contact, or email
PwC has a strong network of people who can advise on all aspects of your corporate reporting, as well as share our
unique insight into the needs of the investment community.

the example.

Reporting Area:
Strategy
Company:
Pacific Basin
Country:
Hong Kong
Industry:
Shipping
A good strategy section is a solid foundation of an Annual Report. Pacific Basin, the Hong Kong-based shipping company, demonstrates good practice
reporting by:
Outlining upfront a strategic model section and using this model to underpin the following sections on strategy.
Describing how the Group defines material issues and identifying 6 key strategic priorities which link back to the strategic model.
Discussing performance against each of these priorities, including objectives for the coming year and linkage to key risks.
Source: Pacific Basin Annual

Report & Accounts 2013
If you would like to discuss your strategy reporting, please speak to your usual PwC contact, or email
PwC has a strong network of people who can advise on all aspects of your corporate reporting, as well as share our
unique insight into the needs of the investment community.

the example.
Reporting Area:
KPIs
Company:
Capital & Counties Properties
Country:
UK
Industry:
Real Estate
The extent of alignment between strategy, reported KPIs and remuneration policy is a good test of the quality of
managements strategic thinking. When the alignment is lacking it raises questions. UK based real estate company, Capital
and Counties Properties, have a very clear KPI disclosure which highlights the following elements of good practice
Explicit identification of KPIs, with benchmarked performance data and clear description
Clear quantified targets for each measure

Alignment between KPIs and measures for executive remuneration
If you would like to discuss your KPI reporting, please

Source Capital & Counties Properties Annual Report 2012

example.
130813-165448-JS-OS
Reporting Area:
Key Performance Indicators
Company:
Transnet
Country:
South Africa
Industry:
Logistics
Clear and transparent reporting on financial and operational KPIs , and the alignment of these to strategic priorities and
executive pay provides a good test of the quality of managements strategic thinking. Transnet the South African logistics
company show some of the components of good practice reporting:
Key performance indicators explicitly linked to strategic priorities
Clear, specific targets stated for each indicator
Acknowledgement that KPIs have been audited
If you would like to discuss your KPI reporting, please

Source: Transnet Integrated Report 2013

the example.
130813-165448-JS-OS

Reporting Area:
External Drivers
Company:
Metso
Country:
Finland
Industry:
Business services
Reporting on external drivers sets the scene for all other elements of reporting. By providing a clear
picture of the marketplace in which a company operates , the investor can understand what external
pressures the company faces, how they are addressing them and why the Groups priorities should
succeed.
Metso Corporation, the Finnish based business services company, provides a good overview of a number
of the key elements of their different segmental market places. Some examples of good practice shown
here include:
Providing a clear sense of the future market conditions with insight into the short term market outlook
Supporting this with an overview of market drivers and trends
Giving good insight into key customer groups
Source: Metso Corporation Annual Report 2013

If you would like to discuss your external drivers


Reporting Area:
External Drivers
Company:
Rexam
Country:
United Kingdom
Industry:
Consumer Products
Reporting on external drivers sets the scene for all other elements of reporting. By providing a clear
picture of the marketplace in which a company operates , the investor can understand what external
pressures the company faces, how they are addressing them and why the Groups priorities should
succeed.
Rexam PLC, the UK based global beverage can maker, provides a comprehensive insight into why they
believe their marketplace gives them a great opportunity to be a successful business. Some examples of
good practice shown here include:
Providing a clear picture of the total market size and opportunity for the company
Setting out a comprehensive picture of the competitive landscape, and quantifying this
Exploring market trends and explaining how Rexam is acting to respond to these
Source: Rexam PLC Annual Report & Accounts 2013

If you would like to discuss your external drivers


Reporting Area:
Integrated Reporting
Company:
Aegon
Country:
The Netherlands
Industry:
Insurance
Progress towards Integrated Reporting remains an ongoing a journey. The leading reports make a great effort to paint
a coherent picture of the organisations broader external context economic, social and environmental. They keep
their integrated reports as concise as possible, in order to avoid their underlying story being obscured by a wealth of
detail. They explain what their stewardship of the six capitals in the IIRCs Framework really means for their
organisation. Aegon has demonstrated elements of effective integrated reporting, specifically:
Concise report (annual review format) with a simple depiction of the value chain that links clearly to the rest of the
report and makes it easy to follow the narrative.
Concept of value is strong throughout with clear integration of financial and non-financial priorities and
performance.
Creative interconnectivity between description of 5 key trends and impact on the value chain, demonstrating
future orientation.
If you would like to discuss your integrated reporting,

Source: Aegon NV 2013 Integrated Review


Reporting Area:
Integrated Reporting
Company:
The Crown Estate
Country:
United Kingdom
Industry:
Real Estate
Progress towards Integrated Reporting remains an ongoing a journey. The leading reports make a great effort to paint
a coherent picture of the organisations broader external context economic, social and environmental. They keep
their integrated reports as concise as possible, in order to avoid their underlying story being obscured by a wealth of
detail. They explain what their stewardship of the six capitals in the IIRCs Framework really means for their
organisation. The Crown Estate has demonstrated elements of effective integrated reporting, specifically:
Evident that the business is focused on the concept of value beyond financial return throughout the integrated
report and the accompanying Total Contribution report.
Integrated report includes clear depiction of the business model that addresses value creation, key capitals, and
inputs and outputs, as well as evolution over the year.
Good connectivity with strategic objectives linked to KPIs, and KPIs linked to material issues and
resources/relationships, including need for strategic partnership capital.
If you would like to discuss your integrated reporting,

Source: The Crown Estate Annual Report and Accounts 2014


Reporting Area:
Tax
Company:
SABMiller plc
Country:
United Kingdom
Industry:
Beverage Manufacturing
Investors need to understand the tax paid by companies. They need information on all aspects of tax, including tax
strategy and risk management, tax performance and the wider impact of tax.
SABMiller plc shows some examples of good practice by:
The flow of tax diagram, which shows how taxes are generated and paid throughout the different stages of its
operations.
Reconciliation of taxes paid to tax charge in the income statement, with clear and easy to follow descriptions.
Explanation of aspects of their approach to tax.
If you would like to discuss your tax reporting, please

Source: SABMiller Approach to Tax report 2014


Reporting Area:
Tax
Company:
Unilever N.V.
Country:
Netherlands
Industry:
Personal & Household Products & Services
Investors need to understand the tax paid by companies. They need information on all aspects of tax, including tax
strategy and risk management, tax performance and the wider impact of tax.
Unilever N.V. show some examples of good practice by:
Disclosing tax as a proportion of economic value added.

Presenting a comprehensive set of tax principles.
Including a chart which shows a snapshot of tax by country and region.
If you would like to discuss your tax reporting, please

Source:
Unilevers
UNDERSTANDING OUR ECONOMIC IMPACTS and
OUR APPROACH TO TAX Webpages
Please refer to the source document for the context
of the example.

Good Practices in Corporate Reporting

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Contents

1. BT Group Plc - maturity

18.Berendsen - strategic priorities

Good practices in corporate reporting

Cash and Debt

Showing average net debt for the year.

Source: BT Group plc Annual Report & Form 20F 2013

If you would like to discuss your cash and debt reporting,

Good practices in corporate reporting

Cash and Debt

National Grid plc

If you would like to discuss your cash and debt reporting,

Source: National Grid plc Annual Report & Accounts

Good practices in corporate reporting

Source: AkzoNobel Report 2012

If you would like to discuss your cash and debt reporting,

Good practices in corporate reporting

Pharmaceuticals and Biotechnology

Keeping reported segments consistent throughout the annual report.

If you would like to discuss your cash and debt reporting,

Source: Roche Annual Report 2013 and Financial Report 2013

Good practices in corporate reporting

ARM Holdings plc

Source: ARM Holdings plc Annual Report & Accounts 2012

If you would like to discuss your cash and debt reporting,

Good practices in corporate reporting

The Volvo Group

Source: The Volvo Group Annual Report & Accounts 2013

If you would like to discuss your cash and debt reporting,

Good practices in corporate reporting

The Berkeley Group Holdings plc

Berkeley looks downstream by conducting post-occupancy evaluations to measure effectiveness of sustainability

If you would like to discuss your sustainability

Source: The Berkeley Group Holdings plc, Annual Report 2014.

Good practices in corporate reporting

Retail & Consumer

If you would like to discuss your sustainability

Source: Kingfisher Net Positive Report 2014.

Good practices in corporate reporting

If you would like to discuss your reporting, please

Source: Land Securities Annual Report 2014

Good practices in corporate reporting

Marks and Spencer

Source: Marks and Spencer Annual Report 2014

If you would like to discuss your reporting, please

Please refer to the source document

Good practices in corporate reporting

If you would like to discuss your business model reporting,

Source Vodafone Annual Report 2013

Good practices in corporate reporting

Banking and Capital Markets

Source: ICAP plc Annual Report & Accounts 2013

If you would like to discuss your risk reporting,

Good practices in corporate reporting

If you would like to discuss your risk reporting, please

Source Randstad Annual Report 2012

Good practices in corporate reporting

Textile and services

Source: Berendsen Annual Report & Accounts 2013

Please refer to the source

Good practices in corporate reporting

Source: Old Mutual Annual Report & Accounts 2013

Please refer to the source

Good practices in corporate reporting