Trends 2006

Good Practices in Corporate Reporting*

This example is from our website www.corporatereporting.com which examines the common themes emerging around narrative reporting and provides real-life examples of what good narrative reporting looks like.
Company: Wells Fargo & Company Corporate Reporting Framework Market Overview Strategy & Structure Managing for Value Performance Country: US Industry: Financial Services Competitive Environment, Regulatory Environment Goals & Objectives, Risk Framework Customers, People Operating, Segmental

Description

Compellingly communicates and reports on the measures, financial and nonfinancial, that matter to management. Wells Fargo, the US financial services group, candidly addresses and explains what it views as the deficiencies in the framework underpinning Globally Accepted Accounting Principles in reporting performance for a financial services business and provides an alternative set of 15 financial and non-financial measures that matter. The report explains how and why the new measures were developed and how each contributes to a clear understanding of Group performance. These key performance indicators are directly linked to ten strategic initiatives. The report uses a consistent structure for each initiative, as shown in the example for cross-selling, explaining in detail with quantifiable trend data for the relevant performance indicators provided to illustrate progress towards objectives.

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Wells Fargo & Company

Financial Services

Market Overview Strategy & Structure Managing for Value Performance

Competitive Environment, Regulatory Environment Goals & Objectives, Risk Framework Customers, People Operating, Segmental

Summary
A B Clearly summarises the Groups market position in each of its product lines Describes the Groups business model, explaining how it benefits various stakeholders and the management of cyclical risk in each segment of its industry

Wells Fargo & Company Annual Report 2004

US

Summary
C D Provides an honest assessment of why the framework underpinning GAAP is inadequate for assessing the Groups performance Supports this honest assessment, with an explanation of why the Group chooses to use a different set of value creation measures, giving candid descriptions of where traditional measures, such as total number of customers, fail Summarises the fifteen key performance indicators that management use to measure success

Wells Fargo & Company Annual Report 2004

Wells Fargo & Company

Financial Services

Summary
F G H Sets out the ten strategic initiatives in place to achieve the Groups overall objective and which build on the key performance measures set out on the previous page Provides a consistent structure for each initiative, comprising of a summary explanation of the initative and progress made during the year Supports this discussion with quantifiable trend data for the key performance measures most pertinent to each initiative and, where applicable, a target for future performance

Wells Fargo & Company Annual Report 2004

US

Summary
I J Describes the development of new measures and their importance to overall Group performance, as shown here for measures that track the value of team members Supports this discussion by reporting performance during the year, and establishing goals for the measures identified above

Wells Fargo & Company Annual Report 2004