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On successful completion of this unit, students should be able to:

1.understand the role of managerial accounting in the management process
2.appreciate how accounting practice can inform management decisions about planning, action and accountability and reduce risk and uncertainty
3.comprehend the language of managerial accounting and its inter-disciplinary nature
4.become familiar with the economic, social, environmental and political context that frames managerial accounting practice
5.apply enhanced problem solving, analytical, communication and interpersonal skills in providing managerial accounting information
6.prepare, analyse, interpret and communicate performance information required for organisational planning, implementation, control and evaluation in terms of:
a.cost accounting systems
b.cost-volume-profit relationships
c.incremental analysis
d.operational and financial budgets investments
f.sustainability reporting and performance management frameworks
7.perform managerial accounting activities using manual and electronic means
8.demonstrate technical literacy in applying statistical methods
9.apply Excel and Tableau technologies to the computation and display of performance information
10.understand and apply ethical considerations in managerial accounting activities effectively and collaboratively in teams
12. be reflective about their knowledge, skills, values and on-going professional education

Further Conclusion

The framework of PWC provides both the internal and external view regarding the decision making and sustainable creation of value of a company’s present performance. The report is based on providing the analytical assessment of the nature and quality of reporting for Trelleborg. The company is originally from Sweden and focuses on providing engineered polymer solutions.

The results of the reflected that both the depth and disclosure principle were in accordance with the framework. There are certain heightened performance disclosure in areas of:

Strategic Elements

  1. Business modelling
  2. Governance
  3. Strategy
  4. Risk

Performance elements

  1. Economic
  2. Operational
  3. Segmental

The report provides a greater disclosure of the company’s strategic elements in respect of the performance and relationship. Certain elements such as financial assets, process and supply chains were easily accessible from the content page.

The degree of disclosure and comprehensiveness of Trelleborg reporting is in agreement with the performance elements that are contained in the PWC value framework. The framework would provide the readers in better understanding.

The majority of PWC framework were easily accessible in the reports. Both the qualitative and graphical presentation is provided in a comprehensive format.

The readers are provided with an insight regarding the following;

  1. Performance targets
  2. Benchmarks
  3. Historical metrics


There are few limitation to the study which includes;

  1. The study is dependent on the research interpretation
  2. Only single reporting is studied
  3. The nature of reporting will be different in other entities

The various types of competitive elements set out in the annual report of the company can be identified with disclosure on comparable competitors (PwC 2018).

This section of the study can be accessed in the annual report published in 2017 under the drivers for market presence in page 41. The name of the section is “few comparable competitors”.

The different aspects of comprehensiveness under this section shows that market mainly comprises of significantly smaller companies having regional specialities in niche markets in several product categories. The company has declared some of the major competitors for Trellborg includes Bridgestone, Continental, Freudenberg, Hutchinson, NOK, Parker Hannifin and Sumitomo Riko.

Overall Conclusion

The overall depiction of disclosure on competitive aspects can be depicted in terms of not only domestic but also international competitors. Therefore, this disclosure the company has evaluated the competitive scenario in a holistic manner making it good.

Regulatory and Geopolitical

The regulatory information is broadly classified under resource efficiency for sustainability, customised solutions to general industry, GRI G4 guidelines and external auditors and regulatory compliance for anticorruption. The geopolitical changes is defined with geoeconomic changes and shifts in power (PwC 2018).

The accessibility of regulatory information and geopolitical information on the annual report of 2017 is identified in pages 40, 48, 49, 51, 52 and 63.

The regulatory compliance of the company is mainly stated with:

  • Compliance with laws and courts under GRI G4
  • Compliance with resources such as energy, climate, emissions
  • Regulatory approach for diversity and social engagement

The geopolitical discussions of Trellborg is depicted with significant information on

  • Information disclosure on Growth factors which are taking place across various global regions
  • Inclusion of factors such as global economic growth on social changes which can influence countries and geographical areas
  • Consideration of developments which can be brought by teams operating in both global and local markets

Overall Conclusion

The company has disclosed a vivid information on both regulatory information and geopolitical changes. Therefore, information quality of these parameters is good.


The report has a moderated on various implications of economic growth influence in the products and solutions offered by Trellborg. Moreover, it has also been able to disclose information with states about strongly linking the demand of transportation with positive economic activities in a particular region or country (PwC 2018).


The basic information pertaining to economic growth implications can be found in resource efficiency for sustainability section in the page 40 of annual report 2017.

The overall comprehensive understanding can be identified with

  • The products and solutions offered by the company having distinct properties in contributing towards a sustainable environment
  • demand for transportation strongly related with the positive economic activity
  • Effect of economic environment in terms of better yield and power requirements for ploughing

Overall Conclusion

The overall information available on the economic disclosures can be identified with sufficient disclosure of information in terms of both transport industry and materiality impacts on the company. However, there is insufficient scope of information on how the company will manage economic risk in an event of financial crisis. Therefore, such a nature of discourse in the annual report can be depicted as bad.

The social responsibilities of the Trellborg is reported with focus on target and outcomes. The company has also considered corporate social responsibility in terms of tax accounting. The company is also included is information on social engagement which is needed with the key stakeholders (PwC 2018).

The information on social declarations is present under drivers for market presence in page 40, focus of the company in real aspects in page 48, social engagement under materiality aspects in page 49. In addition to this, it is also discussed on target outcomes based on social responsibilities in page 11.

The social initiatives have been clearly defined as per supporting of local communities in which it is seen to be operating with a variety of social activities and also providing support for teaching and educational activities to the young population. The outcome for the social activities has been identified with effective support for child and youth development programs in countries such as India, Sweden and Sri Lanka. The strategy marketing programs have benefited the consumers in terms of marketing automation, web marketing and other digital marketing channels.

Overall Conclusion

The company has considered wide range of social initiatives in terms of tax accounting and strategic marketing therefore, this disclosure can be stated as good.


The technical aspects of reporting are mentioned under support for local technical operations under the subheading strategy supported by four cornerstones. There are also few mentions about technical aspects in terms of sending out the service technicians at the time of inter-fit concept (PwC 2018).

The accessibility of such information can be traced in page 30 of annual report under strategy supported by four cornerstones.

The comprehensiveness of such an information is not only lacking in detail but also application. It can be seen that the only information disclosed is identified with the company using sensors on subsea buoys, aircrafts and tires.

Overall Conclusion

There is a significant gap in information in terms of disclosures made about achievements in the field of technological initiatives along with proposed technological solutions in the future years. This disclosure of information is seen as ugly.


Strategy objectives

The reporting of strategy objectives for Trellborg can be depicted with ERM priorities. In addition to this, it has also stated about long-term incentive program of including instigation of new programs include ongoing three-year programs. Some of the meat reality aspects of strategy is also disclosed with impairment of financial assets.


The information pertaining to strategic objectives can be clearly identified with the excellence in core processes which is depicted in page 33 of the annual report, strategic objective for climate change in page 57 and ERM priorities on page 66 of the annual report.

The strategy could objectives pertaining to ERM priorities can be clearly depicted in terms of eight major risk areas which includes resolution strategy for damage or substantial loss of property within the entire group. The size of provisions for the strategic objectives associated with materiality is consisting of the treatments for differences among the carrying amount and present value of the estimates for the future cash flows.

Overall Conclusion

The overall information pertaining to strategy objectives is seen to be poor in nature. Henceforth, the strategic objectives disclosure is seen to be Ugly.

Business model

There is a prominent information available on the use of business models under areas of growth in Trellborg. In addition to this, some of the other extracts of information on this topic is also present with multi-dimensional growth models adopted in 2017.

The accessibility of information on five years perspective of business model can be identified under areas of growth which is stated in page 4 of the annual report. In addition to this, there is an ample information on business accelerator which is stated under business accelerator. This is present under page 20 of the annual report.

The use of business model consists of increased focus with broadening the offering to the customers and integrating more organic opportunities for new digitalized business models. It has also made significant specifications about the use of multi-dimensional growth of business model in 2017 during the acquisition process of US manufacturer for advanced composites of aerospace applications. This was directly seen with the launch of new products rolled out at the e-commerce platform.

Overall Conclusion

There is a significant information available on business models in terms of business accelerators and new ways to generate value from technologies. However, the lack of information can be clearly depicted in terms of application of business model in strategy framework. Therefore, this section of reporting can be stated as bad.


The corporate governance declarations have been clearly identified with its support for future positioning.

The corporate governance accessibility can be directly seen in page 71 under the section governance and responsibility.

Some of the important aspects associated to the corporate governance supporting daily work and future positioning is stated with the activities which are listed as follows:

  • Efforts in maintaining high level of intensity of sales activities
  • Flexible support provided by the board for adopting to necessary structural changes to accommodate with current market situation
  • Disclosure about external policy instruments and internal policy instruments
  • Disclosure about shareholders, auditors, board of directors, staff functions and controlling precedent and CEO

Overall Conclusion

As per the depiction of the report there is ample information available about corporate governance therefore such a disclosure can be stated as good.


The various domains of risk faced by the company has been discussed with supply -related risk, major potential risk impacts, financial risk, confidence risk and sustainability related risk (PwC 2018).

The information on the major risk impediments can be easily identified under value generation section of the annual report in page 28 and 29. The management of group level risk factors are stated in page 66-69.

Overall Conclusion

The comprehensiveness in the information can be identified with disclosure of supply related risk which shows that company have taken several initiatives to control the direct upstream activities in the value chain which can have a negative impact on the performance. Moreover, it has also taken number of risk initiatives which are managed at group level. The focus on the primary financial risks are carried out by focusing on foreign exchanges, financial credit risk, interest rate risk and liquidity risks.

Overall Conclusion

It can be concluded that there is a wide range of information available pertaining to risk management measures. Therefore, such a portrayal of information is seen to be good


The relevant disclosures about remuneration is stated in the section of the remuneration committee under the corporate governance structure. The report is also disclosed auditor’s remuneration.

The auditor’s remuneration can be accessed in page 98 of the annual report. The information pertaining to employee benefits and payroll overheads can be obtained in page 126 of the annual report. The information on remuneration committee can be accessed from page 73 of the annual report.

the relevant information about remuneration matters shows that, this is related to disclosure of matters which are related to employment conditions for the purpose of succession planning, leadership development and consideration of other employability factors. A significant component is under auditor’s remuneration is specified with audit activities, tax consultancy services and other services. Some of the other depictions can be identified with employee benefits, other remuneration and payroll overheads.

Overall Conclusion

There is only a limited amount of information available on the remuneration which is paid to the manager and executives of the company. Therefore, such a disclosure can be identified as ugly in nature.

Report Critique:

Characteristics of the report that derive the PWC Financial Assets elements of framework

  1. Values of the financial assets – financial derivative instruments, financial liabilities, debt and securities.
  2. Financial health
  3. Credit risks in receivables

Extensiveness & Accessibility:

With respect to the framework of PWC it is difficult to obtain the information regarding the financial assets since it thin in nature (De Villiers et al., 2014). The financial assets are stated under the financial instrument context that are explained under the notes section. For an international company like Trelleborg there must be extensive amount of information regarding the policies of assets and debt.


The financial instruments provides information regarding the company steps towards reduction in risk and sufficient liquidity but the same is not done with any particular targets or benchmarks. There is nowhere in the report the details regarding the past performance has been discussed for financial assets.

Conclusion & Strength:

The financial assets of Trelleborg is not communicated property under the notes section of financial instruments. A low emphasis has been placed by the company in this area and overall quality of reporting the information of financial information is ugly.

Reporting Critique

Characteristics of the report that derive the PWC Physical Assets elements of framework

  1. Disclosing book value of assets
  2. Present, past and future values discussion
  3. Effectiveness and efficiency of assets

Extensiveness & Accessibility

The explanation regarding the Physical Assets techniques of measurement that are used by Trelleborg is easily accessible company’s accounting policies (Cheng et al., 2014,). The annual report of Trelleborg exclusively provides description regarding the accounting policies, amended accounting standards and interpretation as well as identification of the assets methods with supportive calculations.


The reporting of Trelleborg property, plant and equipment is wide

There are certain attributes of the physical that are communicated below;

  1. Techniques of asset valuation that involves subtracting the historical cost with the impairment and depreciation provisions
  2. Schedules of depreciation and amortization
  3. Rates of depreciation and amortization

However, there is a lack of comparative rates of depreciation with the applicable rate of taxation.

Conclusion & Strength:

The physical assets of Trelleborg provides supportive explanation to the consolidated financial position of the company with detailed calculation of fixed assets. The overall quality of presenting the Physical Assets of Trelleborg is good.

Reporting Critique:

  1. Percentage of customers and breadth of customer base
  2. Percentage of geographically customer revenue
  3. Relationship with vital customers

Extensiveness & Accessibility:

The annual report of Trelleborg does not provides any specific information regarding the customers. But being an international company it provides segmental information regarding the customers which is easily accessible. A large part of the customer’s information is obtained from the geographical distributions reporting the geographical location of the customers.


The comprehensiveness of the geographical customer segments is very much extensive and some are listed below;

Net sales per geographic market

Revenue Growth Analysis

Net Sales Per Segment

EBIT Margin

Operating Cash Flow

Percentage of the total company revenue

 However there is an absence of country wise budgets and targets. The reports also lacks a comparative view of revenue from each segments.

Conclusion & Strength:

As anticipated there is no such customer specific information presented in the report but geographical trend of the customers are presented. The overall quality of presentation regarding Trelleborg Customers reporting is bad.

Reporting Critique:

Characteristics of the report that derive the PWC People & Culture elements of framework

  1. Extent of workforce competency
  2. Workforce motivation and indulgence
  3. Career advancement opportunities
  4. Work culture regarding employee behaviour, communication and co-operations

Extensiveness & Accessibility

There are certain details that are easily available from the content page of the corporate social responsibility for Trelleborg is given below;

  1. The policy of Trelleborg gender diversity
  2. Goals of the gender diversity that comprises of the recognition of women talent both within and outside of the organization
  3. Development of the current employees by link company’s strategy with the employees development
  4. Company’s ethics and integrity

The overall of people and culture is better and covers wide range of information.


As the extensiveness of the information that is covered mostly involves qualitative and it is related to the policy instead of performance.

The company has reported gender ratios by breaking down the senior management and board but lacks reporting regarding the specific targets and benchmarks. This provides readers with less information in determining performance.

Conclusion & Strength:

The reporting of Trelleborg people and culture is bad since it involves very little depth of directions and values from numerous policies.

Reporting Critique:

Characteristics of the report that derive the PWC Innovation G&S elements of framework

  1. New quality goods and wide range of products and services
  2. Innovations in system and procedure

Extensiveness & Accessibility:

Trelleborg pushes to be the leader in innovation as the company publicly expressed the business strategies and extensiveness in communication all through the document. However there is no such specific references towards innovative performance and this significance of accessibility to readers diminishes.  


The innovative sections is regarded as most comprehensive and consolidated reporting for the Trelleborg. The company makes the qualitative changes by rolling out its new products as the drive towards business growth along with the basis of innovative spending. While portraying the strategic business positioning, Trelleborg did not provided any forecast benefit from the innovative investment.  

Conclusion & Strength:

Trelleborg innovation in its products and services can be extracted from the strategic context of the report but lacks measurement of the performance. There is very minimal focus expressed towards medium and long term targets. The overall quality of presentation is ugly.

Reporting Critique   

Characteristics of the report that derive the PWC Research and Development I&A elements of framework

  1. Creating brand protection and value
  2. Use of intangible assets

Extensiveness & Accessibility:

Trelleborg has surprisingly provided very little information on brand recognition and intellectual property assets. The only reference that is made in the annual report is under the heads of Research and Development which is not easily accessible to readers.


There is no such performance related information is conveyed through the intellectual property and does not comprises of any specific values or positioning of company.

Conclusion and Strength:

The overall quality of Trelleborg Brands and Intellectual Asset reporting is ugly.

Reporting Critique:

Characteristics of the report that derive the PWC Process and Supply Chain elements of framework

  1. Uniform purchase of purchasing procedure
  2. Reduced waste
  3. Recognizing and selecting marketing segments

Extensiveness & Accessibility:

Trelleborg provides detailed information regarding the supply chain and process which is easily accessible under portfolio optimization. The company has exclusively provided an explanation regarding the supply chain that contributes to business growth and improved sales. The company makes extensive reference to purchasing, manufacturing and sales excellence.


There are certain aspects of the Trelleborg reporting of Processes and Supply chain that is listed below;

  1. Working proactively to optimize the core processes
  2. Systematically assuring competitiveness in purchase functions
  3. Concentrated distribution of logistics and supply chain

Conclusion and Strength

The overall quality of reporting for supply chain and processes is good for Trelleborg.

Reporting Critique:

Characteristics of the report that derive the PWC Operational Performance elements of framework

  1. Compliance with business operations
  2. Resources of business
  3. Social indulgence
  4. Gender diversity

Extensiveness & Accessibility:

Trelleborg provides a detailed metric of operational performance with solutions for better sustainability. The area of operational focus for Trelleborg includes the regulatory compliance and material aspects of business.


The company uses the targets to relatively measure its business performance. Its reporting provides value to the readers that can be added with the inclusion of explanation of how the target is computed as well as the direction of performance in respect to prior year.

Conclusion & Strength:

Trelleborg has provided highlights of operative performance and the overall reporting of Trelleborg Operational Performance is good.

Reporting Critique:

Characteristics of the report that derive the PWC Economic Performance elements of framework

  1. Communication of economic performance by setting targets and outcome
  2. Accounting based business ratios

Extensiveness & Accessibility:

Trelleborg economic performance has been widely reported which is easily accessible to the readers within the annual report. Trelleborg vital economic performance has been communicated at page 15 that draws the attention of the readers in the financial statement. In support of each company accounts there is a records of Notes to Accounts. Considering the financial ratios there is no such devoted sections but they are included in scattered that are relevant all through the report.


The financial statements provides the comparative performance against the previous year that allows the readers to understand the performance trend. In order to provide an added granular view an insight of the financial structure is added in the notes section that includes;

  1. Geographical segment wise sales revenue
  2. Financial adjustments
  3. Implications regarding taxation
  4. Information regarding key acquisitions

Conclusion & Strength:

The economic performance of Trelleborg is clearly communicated that provides readers with better insight of business. The overall quality of Economic reporting is good.

Reporting Critique:

Characteristics of the report that derive the PWC Social Performance elements of framework

  1. The target and focus that business creates in relation to the social performance

Though not the main focus on the yearly report, Trelleborg reporting of the social performance is included in the company’s corporate social responsibility.

The company mainly reports is social performance on the below stated areas;

  1. Trelleborg reports on the health and safety by linking its business with strategy and culture
  2. Trelleborg places focus on its people by developing group culture under the inclusive business environment
  3. Trelleborg talks about the diversity through qualitative view
  4. Trelleborg participates with the community by promoting educational activities in schools 

Conclusion & Strength:

The company has transparently included the social elements in the corporate social responsibility report to establish Trelleborg commitment towards social performance. The overall quality of Social Performance is good.

Characteristics of the report that derive the PWC Environmental Performance elements of framework

  1. The values and results that Trelleborg creates in relation to the environmental performance 

Trelleborg reporting of environmental impact is included as the element of the wider corporate social responsibility. The company provided a detailed one page demonstration of the environmental protection activities with bread down of emission that are occurred and related commentary.

The environmental aspects of the reporting is given below;

  1. Qualitative view of Trelleborg environmental strategy
  2. Effects that the company’s manufactured products have on the environment
  3. Environmental control procedure of reducing environmental effects

Conclusion & Strength:

As understood the environmental effect and reporting is not the central focus on the annual reporting. The information provided is extensive but lacks product segment contribution. The overall reporting of Environmental performance is bad.

Reporting Critique:

Characteristics of the report that derive the PWC Segmental Performance elements of framework

  1. Segment wise performance includes the geographical segments based on the business units or area of products.

Trelleborg geographic wise product segments is communicated comprehensively both in terms of the quantitative and qualitative all through the annual report. Trelleborg highlights the performance of each segments through segment wise reports.


Each segment of the sector is reviewed based on the following information

Depth of Reporting

Description of Focus

Performance indicators

a. Growth in revenue

b. Growth in profits



Market trends

Yearly performance of the segment

Geographical trends

Qualitative descriptions of the vital growth drivers

Conclusion & Strength:

The details that is provided by the Trelleborg product segment is very much extensive because it is a blend of historical context, performance targets with relevant future outlook for the readers. The overall quality of reporting is good.

Trelleborg is regarded as the leader of the engineered polymer solutions. The company seal, damp and protect the appliances of critical nature in the demanding environments. The innovative solutions of the company speeds up the performance focus for its customers in a sustainable manner.

The definition of materiality represents the information that is required to be stated or omitted or any misstatement that would result misinformation for the investors (Messner, 2015). Trelleborg has addressed the investors with necessary information by highlighting the sections from the start of the report. Later it addressed the shareholders by reporting on the corporate social responsibility. The approach undertaken by company has created a reader focused information for increasing the comprehensiveness.


Cheng, M., Green, W., Conradie, P., Konishi, N., & Romi, A. (2014). The international integrated reporting framework: key issues and future research opportunities. Journal of International Financial Management & Accounting, 25(1), 90-119.

De Villiers, C., Rinaldi, L., & Unerman, J. (2014). Integrated Reporting: Insights, gaps and an agenda for future research. Accounting, Auditing & Accountability Journal, 27(7), 1042-1067.

Messner, M. (2015). Lobbying on the integrated reporting framework. Accounting, Auditing & Accountability Journal, 28(3), 365-402.

Presentations - Investors - Trelleborg AB. (2018). Retrieved from

PwC, P. 2018. Pricewaterhouse Coopers (PwC) | Integrated Reporting. [online] Available at: [Accessed 26 Sep. 2018].

PwC. 2018. Our Purpose. [online] Available at: [Accessed 26 Sep. 2018]. (2018). Implementing Integrated Reporting [online] Available at: [Accessed 26 Sep. 2018]. (2018). Our integrated reporting framework [online] Available at: [Accessed 26 Sep. 2018].

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