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Encyclopedia of Networked and Virtual Or... > Web-Based Business Reporting in Virt... - Pg. 1864

1864 Web-Based Business Reporting in Virtual Enterprises Raif Parlakkaya University of Selçuk, Turkey Adem Öüt University of Selçuk, Turkey M. Tahir Demirsel University of Selçuk, Turkey thE Evolution of BusinEss REpoRtinG Knowledge-based companies are transforming ev- erything: the way they are organized and managed, the way they do work and develop new products, the way they manage risks, and their relationships with other organizations in order to survive and compete in the rapidly changing business environment. The accomplished companies in this harsh competition sive than financial statements as it also includes both financial and nonfinancial information with financial statements as one of those elements. Traditionally, financial reporting by firms was print-based, and finan- cial information was also released to media via press releases. The printed annual report has been a unique medium for the disclosing of corporate information to the public formally. Before, business information access was available only through the hard copies of annual reports. Not everyone had access to business