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Financial Reporting and Analysis for Decision Making - Essay Example
Author : lela04
Finance & Accounting
Pages 12 (3012 words)
Financial Reporting and Analysis for Decision Making Name Student ID Professor Course Date Introduction Financial reports integrates the use financial statements, stock exchange documentation to deliver the financial information required. The efficiency and effectiveness of financial reporting under the government of Hong Kong appears governed by; The Companies Ordinance (Chapter 32), the dominant sections appears as Sections 121-145 [Sections 373-446 working under the proposed companies Ordinance 2012]…
There appears no true definition under the ordinance or the HKAS. Most cases require the knowledge of the accountant discretion. When companies comply with the Company’s Ordinance the HKAS depicts the situation as true and fair. The moment there appears a problem; the term comes straight from the legislative or the investment discretion (Oporowski, 2005). Hong Kong citizens tend to analyze the connection found among corporate operation reporting releases. Basing the argument to the results of a, certain company in, Hong Kong years 2011 shows that, Firms experiencing a high earning level, rarely releases the information to the yearly press disclosure. Companies that end up releasing their press disclosures display a heightened impression management. The implication here proves that managers who handle their practices engage in it at varied levels related to the firms’ communications. The ultimate information found in such communications proves that the corporations release information that lures the outsiders to view the firm’s performance in a way that they desire (Chartered Institute of Management Accountants, 2011). ...