Requirements1. The goal of preparing an annual report is to communicate informat

Requirements1. The goal of preparing an annual report is to communicate information from a company to its targeted users. (a) Identify and discuss the basic factors of communication that must be considered in the presentation of this information. (b) Discuss the communication problems a company faces in preparing the annual report that result from the diversity its users.2. Select two types of information found in an annual report other than the financial statements and accompanying footnotes and describe how they are useful to the users of annual reports.3. Discuss at least two advantages and two disadvantages of stating well-defined corporate strategies in the annual report.4. Evaluate the effectiveness of annual reports in fulfilling the information needs of the following current and potential users: (a) Shareholders (b) Creditors (c) Employees (d) Customers and (e) Financial analysts.5. Annual reports are public and accessible to anyone including competitors. Discuss how this affects decisions about what information should be provided in annual reports.