Question: In response to the investing public s demand for greater disclosure

In response to the investing public’s demand for greater disclosure of corporate expectations for the future, safe harbour rules and legislation have been passed to encourage and protect corporations that issue financial forecasts and projections. Access the 2009 annual report for information publisher Thomson Reuters Corporation from the company website (
(a) What general expectation did the company have for the industry in 2010 for each of its divisions? How did the company plan to react to this expectation?
(b) Give examples of hard data forecasts (if any) that the company disclosed for the upcoming year (2010). What assumptions did the company use in preparing this information? What risks are involved in achieving these forecasts?
(c) What is the difference between a financial forecast and a financial projection?

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